MIG & OTR recognize that down payment for insurance policies can be a big hurdle for trucking companies. Down Payment Assistance (DPA) allows for a trucking company to maintain cash flow by deferring up to 50% of their insurance down payment. DPA is eligible to select OTR Solutions customers that are binding an insurance policy with Marquee Insurance Group.
If a carrier elects to enroll in Down Payment Assistance they will pay back the deferred amount over a certain amount of time – most typically 4-5 week period. The payback plan would involve OTR collecting the amount of money out of weekly invoices submitted by the carrier for factoring. This process allows gradual repayment without disrupting the carrier’s cashflow, and their insurance coverage.
In the transportation industry, smart insurance decisions are essential for long-term business success. MIG’s team of agents and specialists focuses on creating a customized coverage plan specific to each trucking company’s business needs.
MIG helps trucking firms balance their insurance costs with risk mitigation, safety, and loss prevention techniques. MIG works with owner-operators and large carriers alike.
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