Hey guys, great video! Honestly, this is the thing that gives me agita about getting into this business! I feel like insurance companies make it so confusing on purpose so they can wiggle out of paying a claim if you need them or so they can charge you for coverage you don’t really need. It’s crazy! And come renewal time you have no idea what your premiums will be so how do you budget for that cost? Case in point. A guy I knew had a thriving Hotshot business that he had been doing for 6 years. He started off with 1 truck and eventually was up to 10 trucks! When it came time to renew his policy for all of his trucks the premiums went from $3,000 per month to $12,000 per month! No major claims. Good drivers. Didn’t matter. And when he shopped around for a new company, they were all the same. It was like they were colluding with each other! So he folded up shop. They literally put him out of business and I can see why! How do you budget for something that could quadruple in price when you go to renew it? It really gives me agita!
Great video. It's a important subject that is hard to navigate. For me understanding that any company you might lease on with is going to provide or require insurance that is going to protect THIER interests. Generally they are not going to care about or discuss exposure to risk for you. Figuring that out is up to you. Your video provides a lot of info. Lots of small traps / holes to try and be aware of. One thing we are looking into is doing this 1099 vs with business license (LLC). Leaning hard to LLC. Appreciate any comments about that. Thanks
We are 1099. We know there are a lot of positive reasons to do LLC and maybe someone who transports RVs and has an LLC might contact us to educate us and pass on their knowledge to our viewers
That's the rumors, we personally have no facts on this but our dispachers have been very very quiet and tell us nothing is really coming in at all. we have talked to Synergy and Horizon drivers saying they have nothing either.
If your looking to do Towaway most all companies are not hiring until after the new year and it could be longer. As for your question, check out this video th-cam.com/video/VnXJFM8O6J8/w-d-xo.html
Great update. Thanks for the information!!!
You are welcome
Hey guys, great video! Honestly, this is the thing that gives me agita about getting into this business! I feel like insurance companies make it so confusing on purpose so they can wiggle out of paying a claim if you need them or so they can charge you for coverage you don’t really need. It’s crazy! And come renewal time you have no idea what your premiums will be so how do you budget for that cost? Case in point. A guy I knew had a thriving Hotshot business that he had been doing for 6 years. He started off with 1 truck and eventually was up to 10 trucks! When it came time to renew his policy for all of his trucks the premiums went from $3,000 per month to $12,000 per month! No major claims. Good drivers. Didn’t matter. And when he shopped around for a new company, they were all the same. It was like they were colluding with each other! So he folded up shop. They literally put him out of business and I can see why! How do you budget for something that could quadruple in price when you go to renew it? It really gives me agita!
Great video. It's a important subject that is hard to navigate. For me understanding that any company you might lease on with is going to provide or require insurance that is going to protect THIER interests. Generally they are not going to care about or discuss exposure to risk for you. Figuring that out is up to you. Your video provides a lot of info. Lots of small traps / holes to try and be aware of. One thing we are looking into is doing this 1099 vs with business license (LLC). Leaning hard to LLC. Appreciate any comments about that. Thanks
We are 1099. We know there are a lot of positive reasons to do LLC and maybe someone who transports RVs and has an LLC might contact us to educate us and pass on their knowledge to our viewers
The thing about insurance is you usually get what you pay for
Yup
Enjoy your vacation and time off...
Are the plants closing down..Till next year..
That's the rumors, we personally have no facts on this but our dispachers have been very very quiet and tell us nothing is really coming in at all. we have talked to Synergy and Horizon drivers saying they have nothing either.
Wow, I pay $800 mo. and that is cheap where i live(Alberta). i was getting quotes for $1000 - $1500
ouch
Which are good companies to work for, in tow away? Looking to get into it.
If your looking to do Towaway most all companies are not hiring until after the new year and it could be longer.
As for your question, check out this video
th-cam.com/video/VnXJFM8O6J8/w-d-xo.html