Ridgeline, you are someone who has helped me a lot on this forum. Thank you
That's what I'm starting to realize... If you cover your bases (good business systems, Contracts, and fix reported repair issues quickly), you are safer to be the owner and not drive.
As a driver (and owner), there has to be a way to reduce risk reduce your risk? If an accident happend and somehow you were found at fault, how much of that 1 million primary liability would cover you as the driver. Or is there a policy that could add extra coverage to the driver?
I have a perfect record but nowadays there are so many bad drivers. I've seen people almost run into the side of my trailer driving down the highway. Especially the curvy mess of highway south of Denver. My fear would be that I would get blammed when a car crossed the line and hit my truck. But I need to step up my dash cam coverage. I guess a good camera system would be one idea.
LLC Registered agent and Boc-3
Discussion in 'Ask An Owner Operator' started by Rick Runyan, Dec 3, 2020.
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You have to get your personal assets out of your name and into LLC's. You can go a couple layers deep by owning a holding company that owns the LLC's that your property is in. You need to have these LLC's in either Wyoming or Nevada, because they have the strongest charging order protection against outside lawsuits, which is what would happen if you were sued as the driver.
Real Estate investors shelter their properties and assets this way. Pays to spend a little bit of money with a seasoned corporate attorney who specializes in asset protection for this very reason.
OldRed98 Thanks this. -
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Oscar the KW Thanks this.
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