Commericial Truck Insurance

Discussion in 'Business Operations' started by Turtle II, Dec 6, 2002.

  1. Turtle II

    Turtle II LawnSite Member
    Messages: 152


    I currently have two vehicles on an auto ins. policy. One has full coverage and the other liability only. The preium is 730.00 per year.
    Adding a commericial truck "full coverage" to the policy would increase the preium to aprox. 1450 per year.

    So the difference of 720.00 is what it is going to cost for a commericial truck policy with full coverage.

    Am I missing something here??? I always heard how outrageous insurance preiums were, that seemed alittle low to me,,,after hearing other business owners talk about their preiums.......

    Any advice/thoughts are appericated.........

    Hope everyone is doing well,,,,

    Turtle II
    Eastern, NC
  2. J&R

    J&R LawnSite Senior Member
    Messages: 835

    You need to check with your insurance Co. if you have a wreck pulling your mowers your insurance might not cover you.
  3. Turtle II

    Turtle II LawnSite Member
    Messages: 152

    J & R --- all others,,,,

    Thats what I'm talking about.....

    I told them it would would be a brand new truck and it would need full coverage insurance and that it would be for commericial use....They understood completly & wanted to quote me for a million dollar biz. insurance libality policy too.

    This seemed way low to me....Well---not that low---but allot less then I expected after reading this site and talking to others the last six months.......This is a big name company too......National exposure.........

    Is this 720.00 "PER YEAR" quote simuliar to what others are paying out there??? Or is this way low and something must be wrong???

    Thanks for the help / advice........

    Turtle II
    Eastern, NC:cool:
  4. Bigfoot

    Bigfoot LawnSite Member
    Messages: 167

    Theres quite a bit of differance in prices on commerical insurance from company to company. Everyone needs a reliable company and a agent that will take the time to work with you to come up with a policy that fits your needs at a reasonable price.
  5. gusbuster

    gusbuster LawnSite Bronze Member
    Messages: 1,932

    One of the reasons commercial policies are more expensive is the fact that you will be on the road more driving, therfore more of a risk to the company, likely to cause more damage.... something along those lines.

    Forget the fact that I maybe drive my work truck less than 20 miles a day and my personal truck more than 30 usualy.

  6. Randy Scott

    Randy Scott LawnSite Bronze Member
    Messages: 1,915

    Hey, if they offer that price with the coverage you need, don't complain, that's a good deal!

    Also, my friend works for an insurance company and I actually just talked to her this afternoon to get the process going to have her qoute me for insurance now that my current policy is nearing the end of it's term. She also suggested that I put my wifes truck under the business name because current rates for standard auto insurance are getting quite pricey and I may be better off having it through the business. When I went to commercial insurance on the work truck, we lost the group rates on standard auto insurance in our home, therefore her truck went back up.

    There are so many variables with this insurance BS it gets crazy. If you feel you get a good price and service just go with it. 10 guys will reply here and you'll get 10 different situations and prices.
  7. Turtle II

    Turtle II LawnSite Member
    Messages: 152

    Randy Scott---
    I really like that line allot---

    "There are so many variables with this insurance BS it gets crazy. If you feel you get a good price and service just go with it."

    Plug it into the plan and roll........roll on to the next task,,,,,,,,,till I have everything set------then I can get out there and make stripes as good as Mr. Eric Elm and manacure lawns for coustomers who pay weekly for top notch craftsmanship.........

    I cant wait to get started.........

    Turtle II
    Eastern, NC
  8. dmk395

    dmk395 LawnSite Bronze Member
    from Ma
    Messages: 1,006

    100/300 liab coverage, 3 trucks, 2 pickups 1989 3/4 ton, one 1 ton dump truck. basic coverage except for glass coverage, runs me $4200 per year.....kinda high, anyone can drive employees are covered

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