Can you put insurance "ON HOLD"?

Isn't owning your own business fun?
But no, as because as soon as you do the insurance company is required to contact DOT and your dot number will be deactivated.

 

This here. Insurance must be active to hold an active authority standing. You can reduce physical coverage on the truck/trailer, but that isn’t going to change your premium enough to justify the phone calls and headaches honestly.

If you want or need to park for two months, you better have 6 months of expenses saved up.

 

No you can't. Also if you have a note on your equipment, the lender would be coming to repo your truck or trailer as it is a requirement of the loan to keep it insured.

 

Best case is drop coverage amount. I did that while I waited for my new truck. Saved a little over 1K by doing it but you would have to have truck paid off with no note on it.

 

you can drop cargo insurance, and if you don’t have a lein you can drop general liability,
To keep your DOT active you have to keep required 750,000 Primary liability.

 

Many insurance co will make you pay for a extra month after you turn it off in case any claims are filed against you so you may only be able to save 1 month?

 

No

 

If you have a lien on the truck you will have to have comprehensive and collision insurance as well. Liability only covers the other party in a wreck.