Question on truck insurance

Discussion in 'Ask An Owner Operator' started by rick29, Jul 10, 2007.

  1. daytripin

    daytripin Bobtail Member

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    Mar 31, 2008
    Pacific Grove, CA
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    dieselhound, make sense, I think? When you say lease it to another company am I leasing the truck or the truck and ME, the driver? If this is the case, can I work whenever I feel like it or do they create the schedule, etc. Where would I start when looking for somebody to lease it to?

    Thanks tons!
     
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  3. Working Class Patriot

    Working Class Patriot Road Train Member

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    I have my own authority and prior to going the OTR route, I ran dumps. I had to have a $2 million policy and in addition, I had to to have an aggregate endorsement. Now that I have "traded" policies it's still about the same and the aggregate endorsement was replaced with cargo insurance. So basically it runs the same for one tractor trailer otr as it does for owning two rigs and and a dump trailer.
     
  4. Working Class Patriot

    Working Class Patriot Road Train Member

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    When you "lease on" you run under another carrier's authority. They handle all of the permits ect...

    Let me tell you though that once you have some experience, I would suggest that you get your own authority and do everything as far as permits, IFTA, UCR, IRP. I did that under the urging of several here. It was a pain in the ### at times but I did it. The only thing that I can't do or anyone else for that matter, is setting up your BOC 3 for your Process Agents. That has to be handled by an authorized 3rd party.

    Good luck and be safe
     
  5. dieselhound

    dieselhound Medium Load Member

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    Mar 23, 2008
    Erie,PA
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    You lease the truck. After doing the lease, you will have to be approved as the driver. Yes, you can work how and when it fits your schedule.


    I think everyone should have their own authority. Yes, it can be a pain. I don't know who you would lease to. I have my own authority. If you do a search, I'm sure you can dig up a few places. J B Hunt might be OK. You want someone who has freight. I would tell someone to find a place to work BEFORE you buy a truck. Your in a different situation though.
     
  6. Bigray

    Bigray Road Train Member

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    Nov 23, 2007
    Tampa, Florida
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    question is, is their anyone who will hire a newbie w/ no exp. ?



    would seem to me that it would have to be a carrier who is self insured..

    anyone with thoughts on this?
     
  7. KCCW

    KCCW Bobtail Member

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    Dec 31, 2007
    Littlefork, MN
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    Wonderful! Another wannabe who by his own admission only wants to play
    at being O/O, and doesn't plan on making any money. This is 1/2 the problem
    in this industry. How can someone who is/has been making a living in trucking
    compete against this mentality? Why are you guys encouraging him at the same time you're protesting low rates/high fuel prices? It's all connected.
    It's one thing for somebody to want to get into business for them self to make
    a better living for their family etc., but he even says he's not interested in
    making $.
     
    Tommo2 Thanks this.
  8. daytripin

    daytripin Bobtail Member

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    Mar 31, 2008
    Pacific Grove, CA
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    Hi KCCW, I totally understand what you mean. I used to have a few auto-repair shops that supported my fam. We did pretty good. Anyway, lots of guys would leave their employ (as techs), rent a little garage, roll up the door with their fancy tool boxes on display an "go into business." Most of them failed. It is no accident that a true professional must learn to compete with wanna-be's. This has always been the case and will always be the case in our AWESOME free enterprise system.

    If your afraid of the facts (that none of us can change) and don't think you can compete with a guy that just does something on the side then you might consider the industry you are in. I'm not trying to sound harsh or negative, I totally understand your positions. But, unfortunatley, the trucking gig, like so many other SMALL businesses are apealing to many ma-pa folks. Some make it, some don't. I'm not sure what the circumstances you were in when you decided to go to it but I can assure you that there are both thousands of guys out there that have/had circumstances like YOU once had and tons more that have circumstances like me - a few bucks a dream.

    Thanks for the input and the honest opinion but please do not promote to other truckers to try to keep "new guys" off the road, it just isn't going to happen and it won't make your life any easier

    Cheers
     
  9. Compu

    Compu Bobtail Member

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    Nov 23, 2006
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    Hey Guys,

    I have been an owner operator leased on to a company for the last 2 years and everything has been going well. Been driving a truck for about 20.

    My son just turned 21 and wanted to get his CDL to run with me as a team OTR. However, I can't find an insurance company that will touch him without 2 years OTR experience. Any suggestions?

    I know the company I am leased to isn't going to be able to insure him either, so I've been thinking about getting my own authority and just paying for it all. But still in yet, I can't find insurance.

    I can see not wanting to insure him if he was alone, but I'm going to be in the truck! :biggrin_2556:

    If you know of anyone that might be able to help me I would appreciate it!

    - Compu
     
  10. Irishman

    Irishman Bobtail Member


    I'm far from an expert on this, but, if you had your own authority, would you not also have to notify your insurance company about who the driver/drivers will be.

    And if you did'nt............should something happen with your son driving......would you be still covered ...??


    .
     
  11. Roadmedic

    Roadmedic Road Train Member

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    There would be as much of a problem with him with your own authority as any other company. You might find insurance, but with a very hefty premium.
     
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