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Does anyone know of a commercial insurance provider for my dump trucking company?
Question : Does anyone know of a commercial insurance provider for my dump trucking company?
I am in search of a new commercial insurance provider. My current provider doesn’t treat me very well, even though I pay around $ 40,000 a year for worker’s compensation and coverage for my trucks and trailers.
I run a small dump trucking company in Illinois. Does anyone know of a commercial insurance provider that might work for me ?
Thanks!
commercial insurance
Best answer:
Answer by mbrcatz17
Well, as you know, it’s not the kind of risk companies are eager to insure.
My guess is, the auto will end up someplace like Progressive, and you could try your state workers comp fund for the comp part of it.
Your options are limited, due to the size of your account – it’s a lot of money to you, I know, but in the insurance world, it’s generating about $ 3,000 of commission – and classified a small account. Sorry.
She Said:
**but in the insurance world, it’s generating about $ 3,000 of commission – and classified a small account. Sorry.**
My response: it’s not always about the *commision* the estimated premium needs to cover the potential loss costs of the risk (your business) and as you know your liability on all lines is around $ 1MM so, the premium is just not enough in some cases.
Back to your question: Take lots of competative quotes at renewal. In addition to your State Fund try some large Direct Writers (Liberty Mutual, Hartford, Allstate etc) You may also want to look at agencies that specialize in your line of business.
RLI Insurance (transportaion risks)
http://www.rlitransportation.com/