Will I Have To Start Over? Advice Needed

keep at least one or 2 of your trucks separate from this new venture, and run it as-is like now..???

 

My understanding is you would need to keep your authority insured in order to keep it active.

 

U sound like one in a million goat . Stik with your guys. I’m shure they appreciate it or ask them

 

You don’t make sense, if you are making good coin and are running smoothly, why even bother to work for someone else?

I do not see it as an opportunity, you are established with 11 years under your belt, I would just keep doing what you are doing and don’t look back.

 

@Ridgeline gave you some information, him being a company owner of over 250 trucks.

you have a good thing going, and basically, you wanna kiss it all good-bye.

then selling your equipment, but then buying it back if things Peter out at the new venture.

you're gonna do as you wish anyway's.

you knew you were gonna get questions about your decision.

good luck, and hope and pray something weird does not happen to your authority in the meantime, and you lose it permanently.

 

Your authority will go inactive as soon as you cancel the insurance and if you decide to reactivate it, it will appear to brokers that you are a new authority and some will not use you for a period of time. To keep your authority active you will need to maintain insurance on it. If your premium is low and can afford to pay it and keep your DOT active you wont have any issues at all. But once you cancel the insurance, you will look like new company to the industry and brokers.

Now if you had dedicated customers and brokers you use they may jump right back to using you and wont care that you look like new company and you took a break. Most will think you are a new company because of the insurance lapse.

As far as insurance, unless you have an accident of tickets your rate should not go up too much as its based off your driving record and state of residence and credit rating but you never know what the future holds in trucking with the FMCSA wanting to up insurance minimums rates will go up for sure.