Trucking Insurance Rates / Carriers

Discussion in 'FedEx Discussions' started by Jaywalker, Aug 20, 2018.

Tags:
  1. Jaywalker

    Jaywalker New Member

    Hi, I'm in the preliminary stages of evaluating FedEx ground routes for sale in my area. One thing that concerns me is the rising cost of insurance, given all of the big jury awards I see in the press.

    Is anyone willing to share their view on the trajectory of insurance costs?

    Also, who is the actual insurance carrier that most contractors use--someone recommended by Marsh?

    Thank you very much!
     
  2. It will be fine

    It will be fine Well-Known Member

    FedEx self insures while you are operating under dispatch. You only need coverage for your vehicles when they aren’t in use by FedEx, this is very rare so the insurance is very cheap.
     
  3. Cactus

    Cactus Just telling it like it is

    Run!

    You can thank me later.
     
  4. bacha29

    bacha29 Well-Known Member

    Are you serious about buying a package of routes? if so then there many many other factors you must also consider before buying.
     
  5. bacha29

    bacha29 Well-Known Member

    Are you serious about buying a package of routes? if so then there man many other factors you must also consider if you are considering buying
     
  6. 59 Dano

    59 Dano I just want to make friends!

    He is in the preliminary stages of evaluating routes. Says so right there in his post, no less! I bet he'll consider many other factors.
     
  7. McFeely

    McFeely Huge Member

    Stolen motor freight, smelter bait, 3 drivers for every truck, yadda yadda yadda.

    Amiright?
     
  8. bacha29

    bacha29 Well-Known Member

    If in your minds eye it's such an attractive opportunity why haven't you bought up a bunch of them?
     
  9. OrioN

    OrioN double tap o da horn dooshbag

    It's not a good opportunity at this time of the transition... mcfeely just recalls your perspective verbatim.

    There's the Amazon subcontractor operation that mimic FedEx Ground to take account... lower initial costs???

    Plus I'm still waiting for the overlap of my HD route with the ground route to be updated. We still see each other on the same damn roads and houses...

    I'm already adjusted to the single system. (That's on another thread, op)

    Just waiting for those subcontractors to butt heads and tighten up our service areas so ground can service the east side while I take the west side (mostly resis).

    Also, the HD terminal should transfer the business closed on Saturday to ground for Monday delivery instead of us using DEX 011 & leaving it on the pallet until Tuesday.
     
  10. bacha29

    bacha29 Well-Known Member

    Good Point Orion. The terminal I was at was a joint Ground HD station. We had 7 contractors and 16 routes overall. Following the conversion to ISP 4 contractors remained. In a span of a little over 2 years of the remaining 4, 1 defaulted 1 sold the other 2 are struggling along with the usual margin compression and turnover which has become so bad that of the 2 remaining 1 has a 70 year old man deployed on a continuous daily basis because of turnover and the inability to find young adults willing to so hard for so little and do it on a continuous daily basis with only a week of payed vacation .
    I have absolutely no idea what they're going to do during peak or when it goes over to 6 days a week year round and 7 days a week not far behind.
    But then again they wanted in there badly enough so let em choke on their own greed.
     
    • Optimistic Optimistic x 1
    • List
  11. OrioN

    OrioN double tap o da horn dooshbag

    Geez, how bad is your area that there's a massive exodus of people??? Are the government trying to save your town???

    Yeah that's a pretty small terminal then... I'm in a building that has over 100 routes. The ground terminal nearby is much bigger and it's around the corner with at least 200 routes.

    My state is getting taxes upon taxes and people can't retire here if they don't plan accordingly.

    For example , there's a shortage of a certain type of worker that's much needed butt the property taxes and other living expenses are becoming a hindrance to attract recent college graduates on staying.

    Also noticed that the investor class has increased the salary& adding benefits to try to compete with the Amazon giant that's invading my state.

    I'm keeping an eye on their jobs postings as soon as they find enough subcontractors willing to fleece the FedEx Ground workforce with better compensation

    Plus, with more corporations doing away with traditional pension programs, I took it upon myself to plan my own retirement.
     
    Last edited: Aug 20, 2018
  12. McFeely

    McFeely Huge Member

    Not really sure how you came to that conclusion from my post.
     
  13. bacha29

    bacha29 Well-Known Member

    My response was inspired by your obvious cheap shot. Wait till you guys at Express get the Chewy account. Then you might finally understand.
     
  14. McFeely

    McFeely Huge Member

    I must be feeling punchy today. Sorry if i struck a nerve.
     
  15. bacha29

    bacha29 Well-Known Member

    Not offended but unless you're there to see it you would never believe the kind of stuff shippers dump onto Ground not to mention the incredible stop and package counts those poor Ground mules have to try to drag around for their contractor massa's. Invest your money in companies that make titanium replacement joints because chances are there will be a bunch of crippled up former contractor grunts will need a bunch of them.