Bobtail Insurance

Prime Rate is High and could go even higher.
Our suggested solution:
- Starting with our Admitted A Rated Carrier who has been in the trucking insurance business since 1956. A proven success record with financial stability to handle all your needs including fast claims response and free 24/7 COIs.
- Prime Rate is a portion of your monthly payments for your policy. Getting stuck with a high interest rate could make or break you. Look at the interest rate you are paying now. What if we could help you not have to pay that rate. And rumors have it. Prime Rate may be increased again this year. That could lead to a monthly increase in your payments. What if our program could help you keep that money in your bank account to use for other needs for your company.

If you want to reduce your monthly commercial truck insurance payments.
We do have a Solution!

Prime Rate
The prime rate isn’t determined by the Fed, but instead by individual banks. However, the prime rate is influenced by something called the federal funds rate, which is set by the Federal Open Market Committee consisting of twelve Fed members.
Basically the lender borrows money from the Fed at the federal funds rate and they mark their borrowing rate up to the borrower to create a profit margin. I think there are laws per state setting limits on how much a lender can market up their cost of funds. An example are credit cards. We all have seen how much interest the credit card companies charge. Unreal in many cases what they charge.
Interest Rates and Trucking:

• When you finance your trucking policy you are financing through a 3rd party lender. And they are going to establish their cost of funds and  add the profit margin they want to earn on your policy.  Just like banks and credit card companies. I had seen some trucking policy financed a ridiculously high rates.
• Keep in mind if we get your qualified for our Direct Market. There is no finance charge. 

If you are placed in a position where to do have to finance your trucking policy through a 3rd party. Look at the finance rate on the finance agreement they ask you to sign (try to negotiate). Some insurance agencies will even mark up this rate to create more profit for their agency. JDW Truckers Insurance does not mark up the borrowing interest rate. Marking your cost of funds up on a finance agreement does not offer more or better coverages. I personally think this is a greed factor.
Our goal is to help our clients succeed in business. To get them the correct coverage at the best rates we can find for them. We do not nickel and dime our clients. At JDW we look to build long term relationships with great customer service and honest hard work. No short cuts.
Send us your information below and give us the opportunity to help you.

Overview:: This is the policy purchased
This client ended one year in business. This was a renewal. Rates should be better after his second year and markets really tend to open up and offer better rates after 3 years in business if you are running your trucking company correctly as far as DOT inspections and your drivers have good driving records.
An important point to keep in mind when comparing quotes is the number of years you have been insured. And it is suggested you create an apples to apples comparison chart to get a more realistic view. We do that for you. We shop and compare as many quotes as possible to help you find not only the best pricing but also the correct converges. What is the point in buying a policy if it will not offer you the coverages you need and are required to have in place.
Client based out of South Carolina (each state can have different rates and savings)

• Owner operator
• Clean MVR
• Clean inspection scores

Coverages:

• Primary liability $1M
• Cargo $250k in coverage
• Physical Damage. TIV (total insured value) $166,500. Breakdown: 1 truck valued at $110k. 1 trailer value at $26.5k and 1 trailer valued at $30k
• General liability. $1m / $2m
• Hired auto. $1m
• Uninsured and Underinsured Motorist $75k
• Deductibles. $1,000

Cargo covered:

• UIIA containers
• Dry Van
• No radius limit
• Cargo form is broad form

Conclusion:
A couple of coverages which increased the policy cost here is the high value truck. This one has a stated value of $110k. In most cases physical damage is charged based on a percentage of your total TIV. The lower the stated value of the truck. The lower the policy cost. Another cost factor was this client has $250k in cargo when $100k is the standard cargo coverage required. This increase the policy cost around $1200.
The primary auto liability for $1m in coverage with a $1k deductible was $14,576. This a very good rate. Again the major cost factors was being set up to work with the UIIA, TIV and the $250k in cargo coverage.
Where did they save money: (keep in mind this policy was written on Admitted paper with an insurance company with an A+ AM Best Rating.

• The saving on the policy itself was around $800. And then because the policy was purchase direct from the carrier. The client saved around another $1300 because there are not financing charges (see the Prime Rate section for a better understanding how Prime Rate affects your cost of funds). Bottom line is this is a good savings not matter how you look at it and the policy coverages where much more liberal.

In trucking it is not wise to cut corners when it comes to coverages. But if you can save money that is always a plus.
Send us your information below and give us the opportunity to help you save.

Overview:

• Every commercial truck insurance company can have a different appetite for who, what and where they want to insure. JDW work with 20 plus different trucking insurance companies. So we are able to help our clients shop and compare coverages from many different carriers to help our clients find the best commercial truck insurance rates in the states we offer trucking insurance.


• We are saying if this program does not work for you. Go ahead and send us your information. We have many other markets to shop for you.

This Program Overview:

• This program only insures semi-trucks. No box, dump or pickups.

In these states - AL - GA - MS - NC - SC - TN - VA

• We can offer quotes to trucking operations currently insured and new authorities

In these states - AR - FL - TX - CA - IN - IL - MO - NV - PA - OH 

• Must have two years of insurance in place with no lapse in coverages

Please keep in mind. This program is for these states. If you do not fit these requirements. We have lots of other options to to help you. Click Here
Trucking insurance can be confusing when it comes to shopping for the best rates. You have to know which insurance company is offer the best rates i the state you DOT is registered.
We know this at JDW Truckers Insurance and can help you. Just ask us. You can always call or text Joe with any questions you may have at 843-849-4929

JDW Truckers Insurance is an independent insurance agency dedicated solely to commercial truck insurance. We have a large network of commercial truck insurance companies to request commercial truck insurance quotes on the behalf of our clients. Our clients come first not the insurance companies.
Have questions about our Capabilities?
Call or Text Joe
843-849-4929
(plz do not text and drive) .

This Process is Simple:

• We do not require a lot information to help us determine if you are qualified for this program.
• Just some basic information. Mainly your DOT #.
• Once you send your DOT # over. We will do a quick review and let you know one way or another if we can get you qualified for the program.
• You will be working with one agent. Joe. You will not get phones calls from other agents. We do not sell your information.
• This program works with small and large fleets as well as new authorities, based upon the state your DOT is registered.

If you have questions about this program or our capabilities at JDW Truckers Insurance. Text or call Joe at 843-849-4929.