In the labyrinthine world of truck insurance, one name has been capturing the attention of industry insiders and those navigating the rigors of commercial trucking - Great West Casualty Insurance Company. The buzz surrounding this carrier has grown louder, prompting a deeper exploration into what sets them apart in a competitive landscape. In this comprehensive review, we'll dissect Great West's offerings, eligibility criteria, and unique features that make them a distinctive player in the realm of truck insurance.
Great West Casualty Insurance Landscape
1. Introduction to Great West Casualty Insurance
Great West Casualty Insurance Company emerges as a beacon in the trucking insurance landscape. Unlike some carriers, Great West does not engage directly with retail clients, adding an exclusive layer to their services. Individuals seeking insurance must connect with an agent who has forged a partnership with Great West. This exclusivity, rather than being a deterrent, contributes to the carrier's selective approach, ensuring a focused and tailored experience for their clientele.
2. Qualifying for Great West Casualty Insurance
Great West Casualty Insurance Company positions itself as an optimal choice for new ventures, extending its services to businesses with a fresh DOT number and MC number. However, a pivotal criterion sets them apart - the owner/driver must possess at least a two-year CDL experience. This particular requirement serves as a filter, aligning Great West with seasoned drivers transitioning into ownership and operation.
Key Qualification Criteria:
- New Ventures: Great West accepts policies for new ventures.
- Owner/Driver Experience: A minimum of two years of CDL experience for the owner/driver.
- Selectivity: The carrier maintains exclusivity, catering to a specific segment of experienced drivers.
3. Soft Credit Check and Information Requirements
Great West Casualty Insurance Company incorporates a soft credit check as part of their quoting process. This non-intrusive inquiry, which does not impact credit scores or appear on credit histories, contributes to crafting competitive quotes. To initiate this process, the carrier requires the last four numbers of the Social Security Number, underlining their commitment to tailor offerings based on individual circumstances.
Key Information Requirements:
- Soft Credit Check: Conducted to facilitate competitive quoting.
- SSN Requirement: The last four numbers are needed for initiating the soft credit check.
4. Coverage and Vehicle Specifications
Great West Casualty Insurance Company focuses its coverage on a specific niche within the trucking industry, primarily targeting semis. While their program caters to a range of trucking needs, it's important to note the limitation regarding the types of vehicles they insure. New ventures in car hauling, hot shots, or box trucks fall outside the scope of Great West's coverage.
Key Coverage and Vehicle Details:
- Coverage Focus: Primarily tailored for semis.
- Exclusions: New venture car haulers, hot shots, and box trucks.
- Vehicle Age: No strict restrictions on the age of trucks and trailers.
Understanding Pricing and Inclusions
5. Competitive Pricing and Inclusions
Great West Casualty Insurance Company positions itself as a competitive player within the industry. For new ventures, pricing typically falls in the range of $15,000 to $20,000 per year for a complete package covering one truck. This package encompasses a million-dollar liability, a hundred thousand cargo, and physical damage coverage. Despite new ventures incurring slightly higher costs, Great West ensures that their policies come with valuable inclusions.
Key Pricing and Inclusions:
- Competitive Pricing: Ranges from $15,000 to $20,000 per year for new ventures.
- Coverage Package: Million-dollar liability, a hundred thousand cargo, and physical damage.
- Inclusions: Higher non-owned auto endorsements, no mileage restrictions, and no additional charges for insurance designation.
6. Additional Benefits and Considerations
Great West Casualty Insurance Company goes beyond the basics, offering additional benefits that contribute to the appeal of their policies. They provide a higher non-owned auto endorsement, ensuring coverage for rental trucks and newly acquired vehicles. Importantly, their policies have no mileage restrictions, granting the flexibility to operate across all 48 states.
Key Additional Benefits:
- Higher Non-Owned Auto Endorsement: Coverage for rental and newly acquired vehicles.
- No Mileage Restrictions: Flexibility to operate across all 48 states.
- No Additional Charges: No charges for additional insurance designations.
Conclusion: The Great West Advantage
In the vast expanse of truck insurance providers, Great West Casualty Insurance Company stands out as a distinctive choice. The combination of their selective approach, tailored coverage, and additional benefits makes them a noteworthy option for those aligning with their specific criteria. If you're embarking on a journey into truck ownership and meet the prerequisites set by Great West, exploring their offerings could be a strategic step in securing comprehensive coverage for your business. The Great West Advantage is not just about insurance; it's about a commitment to excellence tailored for seasoned professionals in the trucking industry.