I currently have a truck leased on to a carrier. I recently bought another truck. The new truck is going to be set up for a local opportunity.
My question is: can I leave the first truck under lease and run the new truck under my own authority?
One truck leased, one truck under my authority?
Discussion in 'Ask An Owner Operator' started by Evil_E, Apr 24, 2021.
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Don’t see why not, might want to title the new truck in a different LLC but your accountant and attorney would know more about limiting the liability.
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My thought was the insurance company would have the ultimate say. Don't really want to carry liability and cargo on the leased truckjamespmack Thanks this.
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I know guys who own several trucks and have them leased on with various companies
Not sure how this would be any different?Evil_E Thanks this. -
Insurance is determined by the mc the truck is running under. I don’t know how mi does Irp, but in North Carolina you’ll need two separate accounts if using your plates on both trucks.
@Misesian was doing it for awhile.Misesian, Midwest Trucker and Evil_E Thank this. -
Do they also have trucks under their own authority? Say they own 4 trucks: 2 leased to abc, 1 leased to xyz, and 1 on their own MC#
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The leased truck has plates provided by the operating carrier. I only carry "non-trucking" insurance on it.
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That I’m not sure about. I don’t think so???
I think he has 10-12 trucks and 1/2 at one place and the others at anotherEvil_E Thanks this. -
Yes.
No problem with that, tell the insurance company what’s going on.slow.rider, Rideandrepair and Evil_E Thank this. -
I guess what makes this a difficult question is: the leased truck will be parked when the local truck is running. I will be the driver for both trucks. The local thing is seasonal (grain hopper)
slow.rider Thanks this.
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