Carriers
It's always best to run a quote through this carrier's online rater to secure the market. Unless they are a UIIA risk, of course.
Who is Progressive?
GA, new venture, owner is a driver, single power unit, UIIA
Canal, Lancer, Berkshire, Coverwhale
This endorsement allows the carrier to insure leased/non owned trailers for physical damage.
What is trailer interchange
TIV
What is total insured value?
What is average physical damage percentage for a new venture (TIV) ?
About 6% of the declared value.
In a MC's first two years in business, this carrier offers a program called "Test Drive" that fluctuates rates based on mileage.
Who is Canal Insurance Company?
PA, new venture, UIIA, single unit, 6 month CDL
Berkshire, PRIME
This endorsement covers spoiled refrigerated food due to mechanical failure.
What is reefer breakdown coverage?
APD
Auto Physical Damage
What is the required down payment percentage for new ventures with First Insurance Funding?
15%
3+ Years in business with a short radius and simple commodities? This 107 year old insurance carrier will offer 16.5% commission! But please, no Atlanta.
Who are Auto Owners?
Box Truck, non - cdl, bad payment history with Berkshire.
Who are Progressive? (NiCo is a sister company of Berkshire. They won't write business with bad history)
This endorsement allows for multiple third parties without having to specifically name or request additional insured status for each one. GL
Blanket additional insured
UIIA
United Intermodal Interchange Agreement
This type of coverage will extend liability and physical damage to your tractor when not running a load for your MC. (owner operator)
What is Bobtail Insurance
(non-trucking liability & physical damage coverages)
This MGA offers all lines of coverage, but we mainly go after the AL and GL. No short hauls allowed - but very competitive rates.
Who is Brazos?
NC, two years in business, single unit, power only, UIIA, owner is not a driver.
Incline, Canal, Obsidian, Northland
This endorsement will allow you access into port authorities and railyards, if containers are your thing.
What is the UIIA/UIIE endorsement?
FMCSA
What two codes do we need form the insured to complete their UIIA registration?
SCAC and AGENT codes?
Great opportunity for new venture to 2 years in business. Love 1-3 unit accounts, owners as drivers and will even write an auto hauler here and there.
Who is Lancer Insurance Company?
SC, two years in business, Sand and Gravel rear dump
Canal, Northland, Occidental, Progressive
This endorsement is designed to protect the motoring public by guaranteeing a minimum level of compensation for injured claimants (currently $750,000)
What is the MCS-90
IFTA
International Fuel Tax Agreement
What is the cutoff for GVW to distinguish whether or not the driver must hold a CDL license?
26,000 GVW