Insurance Renewal

#1
Insurance is asking for Summary in Excel broken down by Commercial drivers and Private passenger drivers. Who are private passenger drivers can someone explain please.
 

loaders

Site Supporter
#2
Does your fleet policy include any coverage for sales staff in company cars? Perhaps they are asking for a list of any drivers other than the actual commercial truck drivers.
 
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#4
Private passengers drivers are anyone who is an “exposure” or who you’ll allow to drive the light commercial vehicles. All your “G” classed drivers plus any A class driver who also drive these light vehicles is who you should list. ALso, why aren’t you asking your broker this question? Lol
 
#9
He asks as he senses blood in the water ...
Lmao well put. I can smell it from a mile away, most the times it’s too late. Seen so many carriers who ask for advice and don’t follow it. Then they’re calling me a week or two prior to renewal looking for options when they find out they’re being nonrenewed.

Insurers are ruthless this time around folks. It’s “pass/fail” mentality. And pricing is almost always on their terms without much reductions in negotiating.
 

Michael Ludwig

Well-Known Member
#10
What I don't understand is why carriers go to such great lengths to be pissed off at insurance renewal time.
Everyone has to have insurance. It's going to cost you money. Why would you not go to the same efforts to mitigate that cost as you would to land a new customer?
A penny saved is a penny earned ... right?
And as far as rates go, you have to earn lower rates. You don't just get them because you're a "swell guy", or because you know a guy that knows a guy.
Most insurance brokers, the ones that do your house, life, and wife's car, don't have a clue about commercial truck insurance, and wouldn't know how to write a policy if their lives depended on it ... all they see is the commission cheque, and are in no way motivated to reduce your premium cost.
The ones that make me laugh are the ones that say "Yes, of course I do commercial trucking. I have a guy with two dump trucks and a backhoe in Otter Rapids, Ontario.".
However, as long as carriers continue to care only about their insurance renewal rates, keep bouncing around from company to company to company every 6 months or year, and paying top dollar rates, people like me will take advantage of that market structure ALL DAY LONG :)
 
#11
What I don't understand is why carriers go to such great lengths to be pissed off at insurance renewal time.
Everyone has to have insurance. It's going to cost you money. Why would you not go to the same efforts to mitigate that cost as you would to land a new customer?
A penny saved is a penny earned ... right?
And as far as rates go, you have to earn lower rates. You don't just get them because you're a "swell guy", or because you know a guy that knows a guy.
Most insurance brokers, the ones that do your house, life, and wife's car, don't have a clue about commercial truck insurance, and wouldn't know how to write a policy if their lives depended on it ... all they see is the commission cheque, and are in no way motivated to reduce your premium cost.
The ones that make me laugh are the ones that say "Yes, of course I do commercial trucking. I have a guy with two dump trucks and a backhoe in Otter Rapids, Ontario.".
However, as long as carriers continue to care only about their insurance renewal rates, keep bouncing around from company to company to company every 6 months or year, and paying top dollar rates, people like me will take advantage of that market structure ALL DAY LONG :)
Thanks Michael, I should refer more carriers to you to have those up front conversations. Usually they get it, only after a hard lesson is learned (most the times it’s too late anyways).
 

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