What are you guys paying????

[skidsteerloader]

Hello, I am looking at purchasing an F 550 Dump, and am getting some pretty high rates on insurance. I have a great driving record, decent credit etc. and am still getting quotes of 5 grand or better. Was wondering what you guys are paying for a similar vehicle and who the carrier is? Are there any tricks to keeping the rate low? IE: only used commercially a certain percentage of time, truck under cdl etc. Any help/info and advice are GREATLY appreciated. I am in LI NY. Thanks.

[cat320]

I can see you paying around $1500 give or take a few hundred. I have three trucks for like $3800 a 1 ton van a 1 ton p/u and a 1 ton cube van 15" long plus a dump trailer. You should try to shop around maybe the place your dealing with does not have enough comercial and they get a high rate.

It almost sounds like they are giveing you an under 20 yo rate. A truck like that should or must be restered commercial .

[Jeff D.]

I've Progressive Commercial Insurance for my dumptrucks and trailer.For a $500k liability policy to cover a 34k dumptruck(with extra coverage for snow plowing),a 54k dumptruck,and and a 25k trailer,altogether is $2574/yr.

That is without any "full coverage" on that equipment.

For a $1mil policy for my 80k semi truck,it's $2253/yr for full coverage.That's through Adriatic Insurance Co.,and has a $1000.00 deductable for the full coverage.

Those are considered commercial 100% of the time,and any other drivers must be listed on the policy before operating them,or there's no coverage if they have an accident.I've never had my rates go up when listing other drivers with good records,on the policy though.

What you're being quoted does seem high.Check the yellow pages for agents that deal with commercial vehicles.The only other thing I would guess will increase your rates,after what you've mentioned,would be your age,and your experience with these vehicles.

Good Luck!!