I am looking to buy a F450 ford with a 10 foot or so dump on it to pull my hoe and haul a little dirt. I called my insurance company and they said they don't insure anything with a dump body of any kind on it. Does anyone have any suggestions for an insurance company, and what kind of premimums I could expect to pay. Or is this like owning a boat, if you have to ask what it costs to operate it you can't afford it?
My F-550 dump runs about $1500/year. My company is local, they don't serve your area. Mine is through a farm co-op, nicest people I've ever dealt with.
a certain insurance company that advertises on TV with a "bubbly brunette" (not my words) will provide it....the business of insurance is all about the agent which in turn is all about the [their] broker....
$!500 a year sounds a little steep, but I have not insured anything bigger than a passenger car since 1982. I have three cars at full coverage now a 98 a 01 and a 09. One of the drivers is a 23 year old male in the 09. I pay right around $1000 a year with AAA, you have to be a member and that costs less than a hundred a year depending on which package you have. But they won't insure anything with a dump body on it. You insure a F550, I am guessing that a larger truck has higher insurance, so it might be a little less for a F450. I would not put but a couple of thousand miles a year on this truck so I would not like paying that much for insurance. Would hope I can find something cheaper. Thanks
I think I called them once for car insurance, they were not very reasonable, that's why I don't have them now. I can give them a call and see how reasonable or reasonable they are. I called another company, Geico once and they were $8,000 higher than what I was currently paying and he wanted to start the policy now even after I told him he was $8,000 higher than what I was currently paying. So I would guess the agent was going to pocket a big commission on that one. I thing Ceico is owned by that pauper in Omaha, Nebraska, Warren B. He is so poor he still lives in the same house he bought for $35,000 back in 1958. If we were as poor as Warren we would not be playing in the dirt. Thanks
This company has a commercial division. My '00 F450 with a plow is $600/year for extremely good coverage and $360/year for average coverage.
Our annual mileage has never been over 2000 miles per year and the truck with the premise to never drive more than 75 miles from the yard with only one driver and that driver has a clean DMV record....that being said, the insurance company is required to submit a certificate directly to the state DOT.....the state DOT has specific requirements for what is included on that submittal..... When we charge the customers, they think all we pay for is the fuel.....I keep a copy of my annual payments for the truck on a spread sheet so they can see what it costs just to be "authorized to operate", then I have another section for the fuel and the repair costs. Here's what I show them: the yard at $120 per month - zoning precludes any commercial vehicle in residential zoned properties the DOT approved liability insurance - about $1200 per year given conditions above the registration - about $1300 per year for the CGVW of the truck, trlr, and hoe the motor carrier permit, the administration of the random drug test, the every two year physical add another $30 per month the DOT safety check which is $350 every two years I also keep a quote of the rental company rates so if they want to rent a bobtail dump, it is so much a day plus the miles (plus the fuel of course) then there is the damage waiver at 10%, so they learn quickly that my rig is a better deal. The learning curve on heavy equipment always involves the shock of how much this stuff costs. Then comes the investigation of who we can find to work for that will pay for this.
That sounds a little more reasonable. You have yours with the bubbly brunette company?
Yes, orville, the bubbly brunette commercial division. It had a dump body when I was paying $600 but I recently changed to a flatbed and got a lower liability limit and got it down to $360.
My usage is more of a personal use so I have no one to pass the cost of operation on to. My equipment sits in a residential neighborhood but is hidden behind a tall berm. I need to keep my costs down.
I don't feel too bad now Thanks
You need to go see a good independent insurance agent who represents several different companies. That way he can get quotes from several places to compare. Going with the likes of State Farm or American Family or one of those companies if you are a business is not the way to go.
Your insurance premium is going to be based on your local requirements and rate of claims for your area. It's senseless to ask someone on the other side of the country what your rate will be, I threw mine out only for a reference. In NY, the GVW plays a part in determining the premium and once you cross the 10,000 pound mark rates go up quickly, as does vehicle registration. You need to call your local agent to get your answer.
You are right, all I was looking for was a ball park figure. Most companies are nation wide, a recent post indicated who to stay away from, another indicated who they had good luck with. Once I start calling people I might find someone else. I feel I did get some useful information, and I appreciated it. And thanks for your input Steve
Getting insurance on a personally owned truck and construction equipment can be difficult. My agent could not do it with his company without me incorporating a company of some sort. I would have to pay full commercial rates for my "toy hauler'. He referred me to a friend at another company who did commercial insurance who was able to get me liability coverage on my tractor at a somewhat reasonable rate. I wasn't totally comfortable because he represented me as a construction company. Since my truck (87 Ford LTL9000) qualifies as a historic truck and I'm not for hire, I was able to get very reasonable insurance thru Gulfway out of FL. The trailer is also covered and I can insure the truck and trailer for a declared replacement value at a very affordable rate.
Looks like it might get more complicated than I was thinking, I do have a list of company's to call though, Thanks