Insurance and residence ?

Discussion in 'Ask An Owner Operator' started by Recurve, Sep 14, 2014.

  1. Recurve

    Recurve Bobtail Member

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    Hi im a long way off from being an O/O but was wondering, if you want to run all lower 48 does it matter where your residence is

    if your an O/O with one truck. Or do you get cheaper rates according to your state of residence like it is with auto ins. Thanks
     
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  3. SheepDog

    SheepDog Road Train Member

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    The only thing you have to be concerned with, that I can think of at this time, is taxes. Some states like TX, FL, & TN have no state tax. Another thing that just came to mind is plates as in license plates for your truck,,,each states cost is different. I would imagine Insurance costs can be different as well but not sure by how much. That's a start anyway....
     
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  4. Recurve

    Recurve Bobtail Member

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    Thanks I was curious if it mattered where your running loads as opposed to what state your business is based in. Are there states to

    avoid living in if your looking to be O/O. Id be looking to get out of the north east in the near future anyway.
     
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  5. xsetra

    xsetra Road Train Member

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    Residency,some states don't have income taxes to pay. As far as running, doesn't really matter.
     
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  6. DocHoof

    DocHoof Light Load Member

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    Sep 2, 2014
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    States to avoid for tax reasons? The three highest taxed states come to mind; CA, NY and UT. For insurance, again, the only states that have an impact on a 48 state authority insurance policy would be being based in heavily laden lawsuit states like CA and NY. Two years ago, I looked into becoming an O/O out of Utah, insurance was $3800 down and $750 a month. Just quoted three policies now that I am in a financial position to actually proceed, and I am still looking at $3700 down and $775 a month now being based out of Las Vegas, NV. I plan on running until July out of Vegas, then moving operations to either Dallas or Houston. Mainly because TX has many tax incentives to move an existing company to their state.
     
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