Insurance for new authority $45K year???

It's actually through Lloyd's and there are a few brokers that won't accept their coverage. It's probably not an issue. Especially if just for your first two years (age of MC matters) but it's something to consider regardless.

 

Or you could do the smart thing which is to go to work for someone for a few years and actually LEARN the business...

 

It seems some people here are having some troubles with comprehension. That's exactly what he's done and is continuing to do.

 

Okay, why is he surprised how expensive the quotes are? You could have a CDL with 3 million accident free miles, get your new authority, and none of means shat. In the insurance companies eyes you are a noob.

 

Sounds about right, I’m 30k after 5 years….

But MA having regulated insurance is awesome….

 

I have no idea why he's surprised. Maybe ask him?

And no. I said new CDL, not new authority.

I got my authority in April of 2021, had zero miles ever pulling freight, never had a truck driving job, but got my CDL in the late 90's.

My initial quote for a 500 mile radius was around 7k$. When I went unlimited it raised to around 11k$ IIRC.

Insurance company didn't care how many miles I'd driven with my CDL, they just looked at the 20+ years I'd had it.

 

You sound like you're trying to do all the right things, and if I was in your shoes and I was that serious I'd consider moving.

Maybe you have some connections for feight where you are and maybe your situated where you are, but there are parts of the country you could move to where you probably could pay a very very reasonable amount of money.

And just to say it, this country, the economy, the regulations, it's all squeezing people out. It's going to get to the point where the insurance and whatever is just too much except for the people that positively can't live without it and they'll do anything to be in it.

The expenses of this business are just multiplying exponentially, and the income just doesn't rise anywhere near that.

You should consider leasing on to someone for a few years. Things with insurance and authorities may improve by then, and you'll have more time and money under your belt anyway.

Don't be afraid of leasing on, some places it's a really good deal.

You just have to find the right place.