Trucking Insurance Rates / Carriers

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!
 

It will be fine

Well-Known 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!
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.
 

bacha29

Well-Known 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!
Are you serious about buying a package of routes? if so then there many many other factors you must also consider before buying.
 

bacha29

Well-Known 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!
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
 

59 Dano

I just want to make friends!
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

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.
 

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.
 

bacha29

Well-Known Member
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.
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.
 

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.
 
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bacha29

Well-Known Member
I must be feeling punchy today. Sorry if i struck a nerve.
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.
 
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