JPSouth
Well-Known Member
So last fall I get a call from my insurance agent requesting all the maintenance and inspection records for my dump truck, a '97 Ford L8000 tandem. This hadn't happened before on my '97 IH 2554, so I asked why. She said insurers were weaning away from insuring anything older than 2005 models, considering them a safety risk. As I've been with the company and claim-free for some time now, I'm evidently grandfathered in. For now.
The other shoe dropped last week, as I got a polite notice in the mail that the biz liability on the truck had increased 3 times what it was. Apparently the reason being it's over 250K and over 20 years old. I called my agent, with whom I have a long history and is very good at her job, and asked for mediation, citing that the rig undergoes an annual DOT inspection, and at least one unannounced weigh station inspection plus an average of two surprise parties on the side of the road every year. Additionally, I've got a good relationship with a diesel shop nearby, and anything I don't see and they do, Tom knows to fix it.
Anybody else with older rigs have their insurance skyrocket lately? For a number of reasons, I don't want any part of anything newer than what I've got, suits me and my work just fine. But if the insurance industry is leaning towards slamming the door my options get real limited.
The other shoe dropped last week, as I got a polite notice in the mail that the biz liability on the truck had increased 3 times what it was. Apparently the reason being it's over 250K and over 20 years old. I called my agent, with whom I have a long history and is very good at her job, and asked for mediation, citing that the rig undergoes an annual DOT inspection, and at least one unannounced weigh station inspection plus an average of two surprise parties on the side of the road every year. Additionally, I've got a good relationship with a diesel shop nearby, and anything I don't see and they do, Tom knows to fix it.
Anybody else with older rigs have their insurance skyrocket lately? For a number of reasons, I don't want any part of anything newer than what I've got, suits me and my work just fine. But if the insurance industry is leaning towards slamming the door my options get real limited.