How To Get Cheaper Trucking Insurance

Hey, I'm Hunter with Nellis Insurance. I'm going to go over how you guys can save on your truck insurance, what you guys can do today, what insurance companies are looking at and insurance options out there for you guys that might be a really good fit. So right off the bat I'm just going to give you guys like a quick tip on just a discount available and that is going to be the ELD and, and dash cam discounts. So some of these insurance companies are just going to give you a discount for having a dash cam. I have plenty who just say here's 5%, here's a dash cam, we'll give you a dash cam for free. Or if you go buy a dash cam, we'll give you 5% off. Someone to say here's 5% and a dash cam for free. All sorts of different perks out there for dash cams and stuff like that. But yeah, there's 5% off right there. Sometimes with the ELD, you're going to realize a lot of these companies are going to use that ELD deal a lot differently. Some you got to have a good ELD that they'll connect to to even get a quote from them. But they'll be stupid cheap if you have a good eld, like Nirvana for example. Nirvana is going out there and smoking everybody on, on insurance rates. I mean I have a guy paying 40 some thousand right now. I quote him with nirvana, $26,000. I find it all the time. I, they're probably beaten rates by 40% on most of people. But a lot of people are not in the state that Nirvana's in. They don't have any LDs compatible or they're just like, I don't want you hooking up to my eld, blah blah blah. They're gonna be spying on me. There are people out there like Berkshire Hathaway Homestay companies. Hey, connect your eld, we'll give you 5% off. We're not even gonna touch your rates on the date for, for the data regardless. We just want the data so we know how to underwrite better. And we're gonna give you 5% for your data. Your renewal is not gonna, is not gonna move remotely. None of these insurance companies maybe said like one or two out there, I don't even have access to them. Will touch your rates throughout the year by any means. Your renewal might go down, might go up most times going down for having the ELD data. But like Berkshire doesn't even use the data for your premium whatsoever. Progressives Got a huge discount for motive. If you guys have progressive, they give you 5% off for having a motive VLD. You might get 15% off or up to 15% off at renewal. And then if you have a motive, dash cam, those add on 10% to everything. So 15 upfront, up to 30 renewal. I mean shoe if you guys pay 100 grand, there's 30 grand for having motive VLD, you know, so, or at least very, very minimum 15,000 right off the bat, guaranteed. So there's a lot of discounts like that. A lot of people don't realize that these discounts are out there. A lot of insurance companies offer this stuff you just gotta know about. Like even Northland, Northland's got discounts for having your ELD be connected. A lot of them are given dash cam discounts. And I think one of the biggest things too is you get access to more insurance companies by having this eld. We have like four insurance companies maybe who you have to have, maybe, maybe even five you have to have an ELD to work with them, then you got to connect it. But these five that I have are like some of the most competitive insurance companies amongst like everybody. I mean they're killer, killer options. If you guys have an eld, I, I place them through them every time and I'm saving these guys wicked money. It's just crazy. I don't care if you go through me or go through somebody else. I'm letting you guys know these discounts are available. The other thing here too is knowing just having a well ran trucking company, knowing what these underwriters look at. I talk to 90 of people who, you know, call them on a quote and they're like, I'm like, hey, what are you hauling? General freight. Okay, well I need more than that. You know, they're so scared to tell me information like, like if they tell me anything, I'm gonna use it against them. I get to choose the rates and jack it up. Whenever I go to somebody, an insurance company that has an underwriter, they are going to rate for, for the worst possible situation if they don't have the data that I want you guys to know that they say, you say general freight, they're going to choose the three riskiest commodities that you are able to haul as a general freight and rage you off of that. Do not just try to get by with your insurance agent telling them the least possible information. Tell them, tell them as much as possible. If you guys are doing miles, there's a paper, like there's Paper mile programs. I'll get into this stuff too. But you guys want to tell the insurance agent as much as you can about that stuff. You want to tell them, oh hey, yeah, I had this claim, this driver was 100 at fault, he's been fired. Here's what I did instead of just saying nothing about it. And then when we go ask for loss runs because we want to go get more insurance companies quoted for you, we find out about it, you don't say anything like we're just not going to see it, like whatever. The more information the better. Because if it is bad info, like yeah, my driver cracked out of his mind and ran and hit five cars, like that's horrible. But if we know about up front, we can, we can do something, prevent it going forward and we can get more information on it where telling that stuff to the underwriter front might get them to actually accept your quote. Instead of them finding out about it before I know, before you were before me or the other agent finds out about it and goes to the underwriter, you might have just turned a denial into a quote by telling them, by telling your agent up front and all this sort of stuff. So that is a, that's a big deal. I mean just also like having a well ran trucking company, obviously lower claims, less premium. Lower safety scores, less premium. Better drivers, less premium. I am the, I mean the obvious stuff here, right? Lower miles, less premium. Newer trucks, less premium. More years in business, less premium. Don't have a chameleon, don't have a chameleon carrier ever unless you got a really dang good reason for it. The other thing too here I want, I think this is one of the biggest things right here guys, is knowing what options are available. Okay, so I'm going to start off with couple trucks and I'm going to go into the options here available for bigger fleets. The bigger your fleet is, the more of these like maybe cost sharing or better options there are available. Okay, so if you guys are a couple trucks, there are certain insurance company. Well this goes for everybody, right? This goes for everybody no matter what. But it's also available for small, for smaller fleets. Know what insurance companies are available. Okay, so there are insurance carriers like Acuity, Midwest, San Mutual, Continental Western Group, Lancer. We have like a Lancer, like environmental program where if you guys are hauling a certain commodity or you guys are lower miles or you guys are local or you know anything on those lines, there are certain insurance companies available. A quick example of this is I have a video about An Amazon program. You have to be hauling for Amazon or at least warehouse to warehouse with a drive in that is going to be pay per mile. You can have weekly payments if you like on your insurance. So you don't have to worry so much about that. They are incredibly, incredibly competitive on pricing. It has some of the best coverage out there. By all means. They'll even allow you to bring on some new CDL drivers as long as it's not too many. They have all, all sorts of crazy perks, but most people don't know about that. There's like maybe 15 agents in the nation amongst 40,000 independent insurance agencies who have access to that program. So you got to find a good insurance agent who has access to that program. Midwest Hand Mutual. Incredibly competitive. Not a lot of people have access to them. Acuity, that's the more popular name. Really, really incredibly competitive. Not a lot of people know about them. But there's certain parameters that you got to do to get in there. So because you got progress. He was so big. It's because of the distribution. They advertise like crazy. Every single insurance agent the nation's got access to them. You can call them for a quote. You can't call Midwest San Mutual, hop on the phone and get a quote over the phone. It ain't gonna happen. You have to wait a couple days and you gotta send all the information the agent. Lucky us. We gotta fill a bunch of forms, send it in once they get the quote back. It's killer though. There's other programs available, like pay per mile. You're driving less than 80, 000 miles a year. Shoot. Do pay per mile. That truck breaks down, you're not paying for it if you're more seasonal. I'm really heavy in this six months, but I'm really not hauling as much in this six months. Well, shoot, there's no reason to pay the same premium now. It's gonna be really tight for the six months when you're not on season. That's a great option. There's revenue base. This is for the bigger stuff. Now if you're 10 plus units revenue base, that's even more than pay per mile. It's just, it's really. You gotta fix costs there. You know exactly what's going on. It's based off your revenue. And life's great, right? You got a tough year, revenue's down. So it's gonna be your. So will your insurance. You've got cost sharing options here. Okay, so let's say you guys are getting up There in size you got 20, 30, 40, 50 trucks. Obviously way more works too. You guys can have self insured retentions which basically a deductible on your insurance which could lower your rates like crazy. You could do captives which is basically the next step from self insurance. So you guys can get to be self insurer where you guys can put in that money, pay the captive for like reinsurance in case you have a million dollar claim and you're like well I don't want to, I want to pay a couple million out of pocket. You could pay 300,000 out of pocket or you know the sir. If you guys are not wanting to pay 300,000, money gets invested just like an insurance company, money starts piling up. If you guys claims are low, you're paying more to the captive, money's yours and it's making money for you. So that's a great option. You guys just got to know about the options available. I know all these guys cold calling you and all the advertisements you're seeing have progressive Geico and maybe cover whale whatever. You're just getting stuck with these options here. Okay, so I'm going to go through the last reason here, I'm going to go through the last quick tip here maybe on how to save your truck insurance and best way to handle this stuff is don't have 50 agents. Culture insurance. Yes. I'm talking about shopping, right? Go find those other insurance carriers but don't have 50 agents shopping your insurance. If you have all these agents shopping your insurance and you get somebody unqualified going to a Northland, for example, Northland gives access to a lot of people, but maybe that agent doesn't know how Northland rates and what they want to see and all sort of stuff. Now you're going to block a good agent who knows the discounts, knows the rating and all the underwriting criteria. You just blocked that guy from Northland. And if they, you keep seeing people and this and Northland keeps seeing your quote every single year, you're like, and Northland's like, I'm never winning this thing, you know, whatever. Because I got some guard because some bad agent is trying to shop you with them and not providing the information needed to even get a quote, well shoot. Now if they're really cheap, which Northland could be fantastic, or a number of other insurance companies, they're not going to want to quote you anymore. They don't really be like I've seen this guy three years in a row, I ain't doing anything for him. So now you're going to be out of luck. What you guys got to do is find one agent and hire them. This agent's got to be experienced. This guy's got to have a lot of the insurance companies that a lot of people don't have. Because like I was saying, our biggest insurance company that we have for trucking, only 50 agents in the nation have out of 40,000, okay? So you got to go find a good agent who's going to have access to all these other insurance companies, know how to quote with them, have good relationships with their underwriters, because frankly, I can get some stuff past my insurance companies that a lot of other agents can't do because we have a good, good relationship with them. So hire an agent, okay? Find somebody who's got good options, good experience, nose trucking, and is not burning any bridges for you. Because quoting a million different people or a million different agents is not going to be the way to go. So there's some quick tips, some ways to save you guys truck insurance, how it's being rated, all sorts of different things. Hopefully this helps my goal here, guys, to put more money back in your pocket. I'm trying to help you guys. So please like and subscribe. I don't care if you go through me or your current age, whatever. I'm just trying to hear. I'm just trying to inform you guys. So appreciate you guys watching. Please don't hesitate to reach out. Any questions? Thanks again.