Trucks are great for hauling stuff but aren’t so great for insurance because it generally costs more to insure trucks than cars. Why does truck insurance cost more, and how can you find cheap truck insurance?
Why is Truck Insurance More Costly?
Trucks cost more to insure than cars for four main reasons:
* Drivers of trucks, as a whole, don’t have great driving records. So while you may be accident and ticket free (and make sure you get a discount for that), you’re still going to be paying for the mistakes of other truck drivers.
* Trucks cost more than cars, so the insurance costs more too, just in case the insurance company has to replace your truck.
* Trucks are big and heavy. In an accident, they tend to inflict more damage on smaller vehicles and more injuries to the occupants of those vehicles. If the accident is your fault, that’s more money from your insurance company.
* Trucks are stolen more often than cars.
Finding Cheap Truck Insurance
The good news is that you can find cheap truck insurance. It helps if you buy the right truck: one that has a good safety record and isn’t a prime target of thieves. This information is available online or you can check with your insurance professional.
You can also save on truck insurance by comparison shopping among insurance companies. Truck insurance quotes vary widely from one insurance company to another, but you can easily get multiple quotes from A-rated insurance companies.
All you have to do is go online to an insurance comparison website and type in your insurance information. The website will match your information and needs with various insurance companies, which will then send you quotes. You just review the quotes and select the best one for you.
The best insurance comparison websites even have a chat feature, so if you have any questions about truck insurance you can get answers from knowledgeable insurance professionals (see link below).
Visit http://www.LowerRateQuotes.com or click on the following link to get cheap truck insurance quotes online from top-rated companies and see how much you can save. You can get more auto insurance tips in their Articles section.
JULIUS
Rare recording of Police radio from September 11th 2001. Police capture 2 Mossad agents caught delivering a Truck Bomb next to the WTC building in New York City. Even though they were caught by Police and arrested, they were then let go back to Israel by the BUSH administration.
Go figure who is “supporting the terrorist network”.
This video IS NOT Anti-Semitic, It is ANTI-TERRORIST. If Israelis turn out to be the terrorists then so be it.
We need to expose THE TRUE TERRORISTS and wake people up to who really did 9-11.
More Information about this extraordinary evidence here:
http://culhavoc.blogsome.com/2005/07/01/
and :
http://SouthEastAsiaNews.org
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BASIL
Video of a big truck doing a major burnout
BENEDICT
In case of the trucking companies, big as well as small, there are situations when the cash needs are high and the customers are not paying up on time or amounts are stuck in a credit period. Trucking companies need regular financing for the daily needs like truck maintenance, wages and gas and so on. However, as they are stuck up with delayed payment or credit payment, they have a tough cash flow. For this, one of the best finance options is that of the truck factoring. Truck factoring is nothing but purchasing of the invoices of the trucking companies by the truck factoring companies and paying a certain percentage of the amount to the trucking companies.
The advantage of such factoring for the transport companies is that they get finance or cash when they require it and the bills or invoices are collected by the factoring companies later, on the invoice due date. Moreover, the trucking companies need not be stuck up with the traditional banks for finance. When the company is new it hardly gets finance easily from the banks that rely on the creditworthiness of the customer before financing.
Being new, these companies can hardly show anything. Thus getting finance becomes very difficult and this could be very demanding on them and slow down their growth. The additional advantage is that the factoring companies may not check the creditworthiness of the trucking company, but are more bothered about the credit. The decision may be dependent only on these factors. The added advantage, for the trucking companies may be seen as having to deal with reliable companies with good ratings, government agencies and so on.
The process of getting finance is also easy and relatively quicker. It is a simpler and easier process for the trucking company to get the funds. These companies take the risk of credit collection upon themselves. This frees you from the worry of collections and follow ups and other related matters. Around 60% to 96% amount of the value of the invoice may be received by you, and when the entire bill amount is collected the remaining is paid after deducting some service fee of around 4% or so, you get the remaining amount. This is a finance given and not a loan.
Thus, a new debt is not added up and nor is any collateral required. Moreover it has a better effect on the balance sheet as your accounts receivable are lesser. The trucking companies can use these services to get working capital needed by them for various purposes. A timely availability of funds allows the company to move ahead with expansions and improved services. The amount may be available in even less than four hours. The collection process is also a systematic one thus reducing the collection cost.
With the collection responsibility being undertaken by the factoring company, the trucking company may concentrate on other activities. Moreover they do not have to deal with daily arrangement of funds. You also have a chance to improve the credit rating. With the timely availability of funds you can pay off your vendors on time. This enables you to avail of any further credit needs. You may concentrate on other activities like marketing, sales and other activities for the growth of the organization.
Factoring is very useful for upcoming companies as well as established organizations. Making optimal use of the services, the company can grow even if you do not get finance from the other financial institutions. It helps you to take timely advantage of the opportunities that pop up.
STEVE
Lessors typically are interested in four key areas when underwriting a truck equipment lease application:
1)Credit History of the applicant(s). Lessor wants to be assured that the guarantor has a history of paying their bills and that they do not have any liens that would take priority should the lessee encounter some financial difficulties and can’t make payments.
2)Time In Business (TIB). The lessor is looking for at least 2 years in business so that they can confirm that there is a sufficient monthly revenue stream generated by the business to make payments on the truck(s).
3)Cash Reserve in the bank. Again, the lessor is concerned about ability of the lessee to make payments should there be dips in the revenue stream. Lessors typically look for bank reserves that are at least consistently equal to the amount of the monthly payment.
4)Type of Truck. There are all kinds of work trucks. Without naming all of the kinds of trucks that can and are lease-financed, suffice to say that ANY over-the-road tractor/trailers are the most risky for the lessor to finance. Why? Simply stated, the nature of being on the road many hours each day on the open highways make it risky for a lessor to finance the purchase. The risk of the truck being involved in an accident is greater to the lessor. While the truck is always insured, there is also always a greater risk to that equipment due to the hazards of the open road.
Memo: Depending on how conservative the lessor’s underwriting parameters, there can be other screening elements that are considered for a truck lease application. However, these are the four main considerations that an owner-operator must understand/address before applying for lease-financing.
Let’s examine each of these four underwriting elements and determine what, if anything, can be done by the owner-operator to off-set any negative derogatories.
1)Credit history. Regardless of the nature of the business, this is a major, if not THE major item that can cause the new trucking company to get turned down. This credit hurdle must be satisfied before any hope of getting lease-financing can be achieved. However, there are ways to off-set a low score on credit.
The easiest and most secure for the lessor is to have co-guarantors to secure the deal. Some lessors are more specific about who the co-guarantor can be. Some will want a co-guarantor from the trucking industry, with a track record of success. Others are less specific and will accept anyone who has a good credit score and is willing to co-guarantee the financing.
Note that some lessors have a very mechanical scoring method to determine whether or not all guarantors have sufficient credit depth to qualify. Other lessors are not as concerned about the hard score (FICO) as they are about the STORY behind the score.
So, if turned down, try another leasing source. Don’t overlook alternate sources for lease-financing. There are sources other than banks or the captive leasing arm of the truck dealer. These alternate sources are always more flexible in their underwriting parameters. There are sources that will even lease-finance private party transactions.
2)Time In Business (TIB). Without sufficient TIB, lessors have no company history to give them a warm fuzzy feeling that they will get paid. So, in addition to the truck that is being lease-financed, the lessor (those that will) will look for additional collateral to secure the financing.
This will often have to be real estate (considered to be the most secure form of collateral). Others will accept equipment that is 100% owned by the lessee. However, keep in mind that lessors will often limit the Loan to Value (LTV) to $0.25 on the dollar on used equipment.
Some lessors will accept Sole Proprietors with 2 years in business if they can prove TIB with 2 years of Schedule C’s from their tax returns AND the owner is willing to reorganize as a Limited Liability Company (LLC).
3)Cash Reserve. As the trucking company is new, there is apt to be little cash reserve in the bank. There are exceptions to this, as some start-up trucking companies are well financed and have anticipated the lessor’s requirements in this area. Lacking the required business reserves, the owner(s) or co-guarantors will have to have sufficient reserves in their personal checking accounts.
Some lessors, who are less conservative, will sometimes accept personal reserves to off-set lack of business reserves. This one of the reasons that guarantors have to personally guarantee the lease-financing.
4)Type of Truck. There is no solid off-set to risk for an over-the-road truck, other than the three areas mentioned above. The stronger the other 3 items, the more apt the lessor is to approve the start-up, over-the-road owner-operator trucking company. In addition, some conservative lessors insist that the new trucking company be organized at least as a Limited Liability Company (LLC), to further protect the company assets.
In summary, start-up owner-operator, over-the-road trucking companies can get lease-financing to acquire their trucks. However, they need to focus on these four areas and shore up the strength of each of these key items to bolster their chances of getting approved. If weak in any one area, the other areas have to very strong to off-set that weakness. Regardless of which lessor that will ultimately fund these type transactions, the lessee is not going to enjoy bank rates because of the risks involved.
MAN
dead kennedys police truck studio version
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Tonights the night that we got the truck
Were goin downtown gonna beat up drunks
Your turn to drive Ill bring the beer
Its the late, late shift no one to fear
And ride, ride how we ride
We ride, lowride
Its roundup time where the good ****** meet
Gonna drag one screaming off the street
And ride, ride how we ride
Got a black uniform and a silver badge
Playin cops for real/playin cops for pay
Lets ride, lowride
Pull down your dress heres a kick in the ass
Lets beat you blue til you **** in your pants
Dont move, child got a big black stick
Theres six of us babe, so **** on my dick
And ride, ride how we ride
Lets ride, lowride
The left newspapers might whine a bit
But the guys at the station they dont give a shit
Dispatch calls are you doin something wicked?
No siree, jack, were just givin tickets
As we ride, ride, how we ride
Lets ride, lowride
GEORGE
Moved out of our apartment 2 months ago. Have most of our things in Public Storage Unit in South San Francisco Finally have house available in Modesto and trying to find cheapest way to move. On a very tight budget and should be able to fit nearly everything in one moving truck. Need to find cheapest truck and if possible to rent it for a one way trip?
BUD
