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Gas/diesel is up. Insurance is way up and the reason is because the insurance companies raise rates based on claims they pay out, for everyone in your state. Just because you don’t have any claims means nothing. Messed up world we live in.
Personal insurance has done the same.. and I'm in TX..... I actually called the insurance regulation board to find out why this is being allowed. My ex now pays almost double her car payment for insurance and mine isn't far behind. At this rate it's going to become so expensive to drive that it's going to be dangerous. I make decent money and with everything I can barely afford insurance. I stop and think about people who have no choice they have to drive to get to work but make less than I do... How are they supposed to afford it? Nevermind that it goes up because you got divorced, because you're credit is less than stellar. Actually came across some professor or something that "did a study" (I call BS) showing people with bad credit are more likely to file claims. Sure if you're talking glass or hail but we can't control those, and people with great credit file them too.. but as someone who has struggled with income/outgoing and poor credit to decent credit it's never changed the way I drive or what claims I file. If anything I was more cautious with poor credit since I couldn't just walk into a dealership and walk out with a vehicle I could afford the payments for, couldn't get credit cards to cover costs
@@williambuehler2533 I guess the idea is you don’t get poor credit by making good financial decisions or paying on time. I’m not saying that’s right, but that’s what it looks like to them on paper. When my mom retired and bought a winter condo in Florida she took up residence and registered / insured her car there and her rates slightly more than doubled. Hypothetically if she didn’t want to give up on the tax breaks you get being a Florida resident we could hypothetically have added my name to the title and put it on my insurance policy with her listed as a covered driver and allowed the car to be titled, registered and insured in WV because on paper it spent most of its time here but hypothetically she could keep and drive it in Florida and should something happen within this hypothetical scenario she could say the right things when asked certain questions and she’d be covered. I say hypothetically because if one were to actually do something like the fictional, hypothetical thing I mentioned above it may not meet the legal definition of insurance fraud but could certainly be enough of an issue for the insurance to deny coverage in case of an accident and cancel a policy over. Of course if there were a real life situation myself and a relative were involved in I would have the vehicle in West Virginia at least 51% of the year for sure and it would only be driven to Florida for limited stays down there with that relative and not be there all the time.
I'd think the fuel economy, capacity, and comfort of the new truck would be better than the old one, BUT that insurance is killing everyone. They make you buy a newer truck but screw you so you cant aford to run it.
There’s a fine line to walk between being criticized for gloating / bragging about being an O/O and being called a “gatekeeper” by saying it’s not financially worth it unless x,y,z…. I think you did a fine job explaining it without falling into either of those RU-vid traps.
I see same thing in towing business everyone wants to do it now and insurance and maintenance and everything else they never think about. Alot of them don't even do their own maintenance they don't know how.
Picked up a 2016 3500 this summer. GVW of 14K. The dealer wanted to tag it as class 5 at almost $400 a year. I told the to drop back to class 4B for $262.00 plus $ 5.00 county tax. I would keep comprehensive coverage on your dad’s truck if possible. God forbid anything happens to it and you have no insurance on it. Your boy sure is growing. Happy holidays to you and your family
My next truck will be a 3500 gasser with a gooseneck service body. If I go Ram, it will need to be a Cab & Chasis to get the HD trans with the gas engine. Chevy offers the Alison in the regular 3500 truck line with gas. Either will do (won’t be going back to Ford anytime soon). I run a non-CDL setup so I’m never hauling real heavy (12K truck w/ 14k trailer), we have hills but not mountains and I rarely go over 50 miles at most (a lot of it is 20 or less). Gas engine saves a ton of money to buy, maintenance costs, weight, etc. The internet would hate it but it’s truly the best option for me. Just have to have the “builder” rate the truck at 12k. My biggest struggle is regular vs crew cab decision. Good video!
I’ve got a 1989 KW T800 4 axle dump truck transfer and a 2006 W9 day cab with a low boy trailer attached. My commercial insurance has doubled in the last two years. No rhyme or reason. I’ve got no accidents or claims. Btw I’m west coast too Washington state
Something my accountant told me. You can buy something used and cheap and you never know what you're going to spend fixing things or you can buy something new with a warranty and you know what your monthly costs will be... and in most cases you will have less down time. Unless you own a dodge and have the endless electrical problems that come with them!
And if you pass that cost on to the customer, you lose your competitiveness. What a balance, something the government doesn't know anything about. We're just their checkbook. I feel for you brother.
I don't think you understand. If you pass additional cost onto the consumer, your rates will exceed your competitions rates. i.e. higher rates than competitors; thus, losing your competitive edge.@@Sc-jf3yk
Mine gone up 60% in the last 2 years. No claims. Indiana shopped around no cheaper. They claim they paid out too much for uninsured claims. So the people who have insurance to be legal get the shaft again.
Great video 👍. It's all the politicians in California, but it's everywhere . I had life insurance for 30 years, and it went up 500% this year, and I live in Kansas.
Insurance companies don't like paying claims. As a 50+ year old male, based on demographics, your a higher risk. I owned three tow trucks. When I started in business, my commercial insurance for the 3 trucks was $4500 a year. 6 years later, no claims, no drivers with points on their license, my rate went to $13,000. My state didn't inspect small trucks as commercial vehicles, so there was a lot of F-350-450 size trucks that were junk doing repossessions, impounds from shopping centers and apartment complexes. They were involved in numerous accidents. My trucks were inspected yearly by the state police because I did police impound tows.
@Christopher88S they all suck, that why you get a 3rd party appraiser for things. Think about it your asking somebody (that's paying you) what they will give you for a vehicle. That's like you asking me what I'll be willing to pay you for your truck. Of course I'll low ball the hell out of you
Happy Thanksgiving to you, Hoss and the family Sam!! I hear ya on the insurance rates!! Mine went up 25% on my 11 year old 2500HD Silverado! I didn't hardly put any miles on it either, recovering from some med things. I even toyed with the idea of selling it, I was offered $30k for it. But what do I replace it with? Nothing this nice for $30k. It's gone crazy. 8) --gary
i'm in western washington my rates have gone up a bit over the last 2 years but only about 20% not double by any means. been on the same policy for almost 20years now only had one claim and that way more than 10 years ago
Not to mention fuel, I fuel my truck in western Washington, and it’s insane, cross the line into Idaho where I live and it’s over a dollar cheaper a gallon
It’s our own fault that we’re paying double. Red light running is a common occurrence. Every day you’re going to see two to three red light runners at the intersections. Now imagine how many times that’s happening across the country. When I drive from Arizona to Florida and back I am amazed how many runners I see. Another one is passing the vehicle when they don’t have enough room so you have two vehicles diving into the emergency lane to give the idiot enough room to pass to avoid a head on collision. Drivers are so angry now a days they don’t care if they kill you because they’re hiding behind their insurance.
The cost of any business to run is way up. They make it heard for some one to make a $$$$ a buddy of mine ran a tractor trailer. He just sold it all. Working for Walmart. After first yr a 100 thousand + and a lot less stress
When I talked with my insurance carrier recently about the insurance costs and problems getting covered. Their claim is that due to California's changes and the amount of liability they want the insurance carriers to carry for fire. That they had no choice but to double it, to be able to cover California's reporting and liability requirements. I am sure the real story is somewhere in the middle. But its sure been a pain in the ass this year too deal with. They dropped my home coverage after they used AI to check the roof and instead it chose an old torn down shed to call my cause. Causing them to revoke my policy.
Triple a dropped my home owners as well last year cause I had to much stuff on the property apparently.. wouldn't let me clean it up and they never even came to the property..
New gassers are real nice. Ford 7.3 is good too. Old man just got a new one. Still 10mpg though sadly even with the 10speed. Wish someone would drop a hybrid 1 ton
70,000 for a pickup thousands of computer chips & the fuel mileage is lower then the trucks from the 70’s. Technology for the sake of jacking up prices is bull.
Insurance Companies are ridiculous and how people like us that don't cause Claims and all time something there tring get there Provider for...People w/nice Vehicles for Work or Daily,even Decent reliable older vehicles we just Pay way to much...IMO it's cause of others and Insurances payout all time now people that can Drive,CDL,Work or not ect. GOOD Drivi.g Record makes no diff. It's tough shame that's gonna sit but..He is right if more parked them maybe it make them have play ball fair....Anyhow Hope ya'll had a Great Thanksgiving and U and ur Father are a Amazing Team..Good Father as well,Keep it up..Take Care Pal
I live in Kentucky. Everything cheaper but not a lot of jobs. Seems the states that have more job opportunities the higher things are . Gas here $2.99-$3.09. Diesel is $4.29. And Ky don’t enforce emission laws
Tip for buying a flat bed truck, get it with the standard bed from the factory, the vin will always show a standard truck even if you put a flat bed on it. That alone will make your commercial auto much much less!
Well that was a depressing end to the video haha....this economy is a scary thing! I hope ole Hoss doesn't regret buying that truck, although I'm sure at this point he does. Would it make sense just to try to sell the thing? Seems like you'd be losing money just having it sit around.
$583 a month to operate that new nice red truck. That is freakin stupid. I guess, I will not be purchasing a new truck ever. I’ll stick with my 2006 Ram 3500
Progressive commercial will let you take the truck off insurance but never put it back on. They made me "sell" one of my rigs when I took it off and give them a bill a sale. If I didn't do that then they would of cancelled policy for othe trucks.
They are raising rates because they can. I’m in New York (Long Island) my commercial ins went up. So did my personal vehicle and home ins. Thanks uncle Joe bag
In BC (Bring Cash) Canada, a 5500 id 100,000, and that trailer is 40,000... When I show up to do a job for someone with my 55 Hyundai ... They don't care about the truck, just that I got there. And I'm usually there for a week, at least. The guy who moves me around, has a 20+ year old International 4700. He said he paid 5k for that truck. I want the 5500, but it's not need. We'll see what the accountant says this year...
We’ve been in business since 2007 there was a time diesel went up to $5 but insurance wasn’t what it is now ours tripled , we had nationwide excellent company & coverage this year they ( Nationwide) left California our broker really only gave us one option due to the type of business we are it was triple what we had with Nationwide, you’ve got to be kidding me. I’ve have multiple rigs some new some not so new , didn’t matter . I had to park & non op several of them . I’ve had to downsize & restructure our business model in order to survive this B.S. it’s ridiculous .
I had basically assumed that or he was just saving it as a back up, ol hoss knows you pay attention to the pennies and dollars will take care themselves
Kinda sounds like he ought to sell the red truck unless you guys are just waiting for business to pick up to use it or something. I’m all for having excess vehicles especially cheap ones but to have a 60k + truck sit not even insured or registered seems kinda silly. That or unless he’s just waiting to finish the bed. Or you are waiting to buy it 😅
Cost you 30% more to replace it. Why would I sell it. It’s a truck he’s wanted for years. He will Finish it and drive it. But no hurry with these rates
Just stinks to see it sit. But if he likes looking out in the yard seeing it knowing he has it and it makes him happy then I get it. But on the flip side to have it and not be able to drive it stinks. And I’d just hate to see a video one of these days “well dad got the 4500 finished and now we got a mice infestation cause it sat for 2 years”
Well its no secret that all of you out there on the west coast has it worst than we do out here on the east coast when it comes to laws and inspections and just all the stuff that comes with running equipment and hauling your on stuff. Thank god it hasn't got that bad here yet and that govern out there in California isnt doing you any favors either. If it was up to him you would be dealing with an electric truck. and i think its time for all trucks to strike long haulers and even down to us in business for our selves. They keep pulling the noose tighter and tighter on us and with out us lets see how long they can make it with out big trucks. Let alone what they are putting us threw now just to get CDL'S and to keep them. OK ill stop bitching now.
