Guide
Insurance renewal prep: what to gather and how to read the quote
Renewal week is a bad week to find out you do not know your own miles. Prep takes an afternoon and makes the quote readable.
In short
- Gather your own counts: trucks, drivers and monthly miles. Ask your agent what else they need.
- Pull your public record and make sure it matches your policy documents. Our authority and insurance check shows how.
- Set reminders at 60 and 30 days before renewal and ask the agent to confirm when the new filing goes in.
- Compare quotes per truck and per mile. We give no advice on coverage or limits.
Hook. In the example, a $1,280 rise on 8 trucks is $160 a truck and 1.9 cents a mile. A 500 mile load must pay $9.41 more just to stay where it was.
A quote is easier to judge in your own units
A premium is a monthly lump. Your rates are per mile. Convert one into the other and you see what a renewal does to the rate you quote.
The figure shows an invented premium per truck for the last term and the new quote. The red bar is the new quote. The gap is the number to explain to yourself before you sign anything.
The federal minimum liability amount for general freight is on our authority and insurance page. Your rate cons and customers may ask for more, so read them. We do not say what you should carry.
Prep in five steps
Pull your record
Look up your USDOT or MC number and save a dated PDF. Check it matches the policy.
Count your own numbers
Trucks, drivers and monthly miles from your own books.
Ask the agent
Ask in writing which documents they want and when the new filing will be submitted.
Calendar reminders
60 days and 30 days before renewal.
Convert the quote
Premium per truck and per mile. Compare with last term.
Prep list
| Item | Where it comes from | Why it matters |
|---|---|---|
| Truck and driver count | Your own records | Quotes are usually built on them |
| Monthly miles | ODO or ELD totals | Turns a premium into cents per mile |
| Public record PDF | FMCSA SAFER and the licensing site | Shows what brokers see |
| Rate con insurance lines | Your last 20 loads | Some ask for more than the minimum |
| Reminder dates | Your calendar | Catches a filing gap before a load is booked in it |
Start the prep before the agent calls. A fleet that knows its truck count, driver list and monthly miles answers questions in minutes instead of days. Keep the answers in one sheet and update it each month at close, so the next renewal starts from current data.
Worked example EXAMPLE VALUES
Example data. An invented fleet of 8 trucks running 8,500 miles each a month, 68,000 in all. Last term $9,600 a month, new quote $10,880 a month.
| Line | Last term | New quote | Change |
|---|---|---|---|
| Monthly premium | $9,600 | $10,880 | $1,280 |
| Per truck | $1,200 | $1,360 | $160 |
| Monthly miles | 68,000 | 68,000 | 0 |
| Per mile | $0.1412 | $0.1600 | $0.0188 |
| Extra on a 500 mile load | $9.41 |
Per mile it moves from 14.12 cents to 16.00 cents. That is the amount your cost per mile and your minimum rate rise, other costs equal.
This is arithmetic, not a view on whether the quote is fair. We do not compare carriers or coverage, and we do not project a yearly cost from guessed inputs.
Where it goes wrong
- Reading only the total. A flat total hides a change in miles or truck count.
- Starting late. The 60 and 30 day reminders exist because a gap can pause loads.
- Mismatched names. Company name or address on the policy that differs from the record can confuse a check.
- Giving advice to yourself. Coverage questions belong with your agent.
The formulas
Use the same miles for both terms to compare cleanly.
Your numbers decide
The numbers are invented. We say nothing about which coverage, limits or carrier is right. Ask your agent, check your contracts and verify with a professional.
We do not give legal, tax or financial advice. Your contracts come first.
Questions
What is the federal minimum?
Our authority and insurance page lists the minimum for general freight and its source. Your contracts may ask for more.
Why 60 and 30 days?
They are the reminder points on that page. They give time to chase a missing filing.
Do I use loaded or all miles?
All miles. Insurance covers the truck on the road, not only loaded.
Can you tell me if the quote is good?
No. We do not give insurance advice. We help you read it in per truck and per mile terms.
Related: authority and insurance check, true RPM, month end close, minimum rate floor, cost per mile tool, all guides.
See what your last 20 loads show.
One short form. We reply by email with the next step, and a one-page report follows. Free, no obligation.
Mon-Fri, 9:00 a.m.-5:00 p.m. Eastern Time (Raleigh, NC). Voicemail is answered the next business day.