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  1. 09.09.2006 #1
    Brad
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    Cargo/Liability Insurance suggestions

    My father and I have dedicated runs with a local business. For the last few years we have been leased to a company and they covered the insurance for 20% of the gross. We are going to reinstate our authority and need to have cargo insurance to do so. Any suggestions on a good company or two to check with? Any help is appreciated!
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  2. 09.11.2006 #2
    BearGator56
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    Re: Cargo/Liability Insurance suggestions

    Call OOIDA. They quoted me about $750 a month with everything. There is also First Guard that advertises heavily on XM. And a lot of big carriers use Liberty Mutual.

    I'm assuming you're getting your own authority. Be aware that the DOT does not grant authority until they get your insurance. It can take 2-4 weeks for them to process it. This means you'll need to be able to pay for a month of insurance that you won't need because you can't run without it legally.
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  3. 09.11.2006 #3
    Rawlco
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    Re: Cargo/Liability Insurance suggestions

    Quote Originally Posted by BearGator56 View Post
    Be aware that the DOT does not grant authority until they get your insurance. It can take 2-4 weeks for them to process it. This means you'll need to be able to pay for a month of insurance that you won't need because you can't run without it legally.
    You do not need the insurance to be active until after the 30 day authority application comment period. Just tell your insurance agent to have the effective date for 35 or so days after you applied for the authority and you will be all set.

    To find insurance you need to shop around. Look in the yellow pages, classified adds, etc. Get as many quotes as you can and go with the agency that gave you the best service when getting the qoute. The cheapest company may give you non-existent service when you have a claim. Call twice and change what you need quoted and see how they respond. Service is more important than cost.
    Last edited by Rawlco; 09.11.2006 at 08.19 PM. Reason:: clarification
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  4. 09.13.2006 #4
    BearGator56
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    Re: Cargo/Liability Insurance suggestions

    Quote Originally Posted by Rawlco View Post
    You do not need the insurance to be active until after the 30 day authority application comment period. Just tell your insurance agent to have the effective date for 35 or so days after you applied for the authority and you will be all set.
    The comment wasn't so much about the insurance being active, but that you would have to front the cost. Insurance companies will not start a policy without a down payment of some sort.
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  5. 09.13.2006 #5
    Rawlco
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    Re: Cargo/Liability Insurance suggestions

    Ahhh, I see what you are saying. You aren't wasting the money really, but you are tying up working capital.
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  6. 09.16.2006 #6
    BearGator56
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    Re: Cargo/Liability Insurance suggestions

    Quote Originally Posted by Rawlco View Post
    Ahhh, I see what you are saying. You aren't wasting the money really, but you are tying up working capital.
    Yep-just another cost to cushion yourself for!
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  7. 12.30.2006 #7
    doggone
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    I'm assuming you're getting your own authority. Be aware that the DOT does not grant authority until they get your insurance. It can take 2-4 weeks for them to process it. This means you'll need to be able to pay for a month of insurance that you won't need because you can't run without it legally.[/QUOTE]


    What would it cost to get your authority if you would want to run with a straight truck thanks
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  8. 01.03.2007 #8
    BearGator56
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    Quote Originally Posted by doggone View Post
    I'm assuming you're getting your own authority. Be aware that the DOT does not grant authority until they get your insurance. It can take 2-4 weeks for them to process it. This means you'll need to be able to pay for a month of insurance that you won't need because you can't run without it legally.

    What would it cost to get your authority if you would want to run with a straight truck thanks[/QUOTE]

    The authority is $300 for your USDOT and MCC numbers. You can apply online, and they will accept a credit card. Fairly simple process. Be aware that as soon as you pay and get your confirmation, several process agents will call you. They charge a standard fee of $35 bucks. If you are an OOIDA member, I believe they will be your process agent as part of your annual membership.
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  9. 01.04.2007 #9
    NightWind
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    Lightbulb

    Well try reading this post, it might give you more insight as to the start up cost and steps. Hope it helps a little bit. And please excuse my warped sense of humor.
    Happy Trails
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    http://www.thetruckersreport.com/tru...ight=Nightwind
    Last edited by NightWind; 01.04.2007 at 02.09 PM.
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  10. 01.08.2007 #10
    Brad
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    I ended up with Roehmer Insurance. Just over $500 per month. I had to pay $1900 up front and the rest of the year is payed over 8 months. I joined OOIDA for the process agent. The have a Christmas special, $25 til the end of January. The ball is almost completely rolling now.
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