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Lease on with authority and insurance question

Discussion in 'Ask An Owner Operator' started by Jordan_Todd, Jan 31, 2023.

  1. Jan 31, 2023 #1
    Jordan_Todd

    Jordan_Todd Bobtail Member

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    Jan 31, 2023
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    I've had my own authority and operated as an independent for the last 4 years. With rates falling through the floor I've been working in the ports but under another authority for the last 6 months. I've maintained my insurance but now is time for renewal.

    I have the option to go full lease on with this company and save a ton of money with operating under their insurance, and as of now, it doesn't pay for me to renew my current policy.

    Is there a way I can accomplish this without revoking my authority and starting over with the insurance rates as a new carrier again if I find better opportunities in the near future?
     
    Jordan_Todd, Jan 31, 2023
    Jordan_Todd, Jan 31, 2023
    #1
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  3. Jan 31, 2023 #2
    brian991219

    brian991219 Road Train Member

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    Short answer, no. To maintain FMCSA operating authority a MCS-90 filing must be kept current and the only way to get that is with a full insurance policy.
     
    brian991219, Jan 31, 2023
    brian991219, Jan 31, 2023
    #2
    Siinman Thanks this.
  4. Jan 31, 2023 #3
    AgPilot1

    AgPilot1 Light Load Member

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    Could you use a pickup truck as a placeholder? Basically be a hotshot company on paper. I would think the insurance would be a lot cheaper
     
    AgPilot1, Jan 31, 2023
    AgPilot1, Jan 31, 2023
    #3
  5. Feb 2, 2023 #4
    Lexuslane

    Lexuslane Medium Load Member

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    I thought you could “pause” the authority without losing it and starting over ?
     
    Lexuslane, Feb 2, 2023
    Lexuslane, Feb 2, 2023
    #4
  7. Feb 2, 2023 #5
    brian991219

    brian991219 Road Train Member

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    Lords Valley, PA
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    No. There are only two status, active or revoked. The revocation can either be voluntary or involuntary. Either way, your authority will show revoked and you will need to pay a $80 reinstatement fee to FMCSA after having proof of insurance filed again.

    You can keep a US DOT number, but not the MC number, active without insurance just by changing your operation class to intrastate or private motor carrier, although you will still be subject to audits, UCR and all the other DOT requirements.
     
    brian991219, Feb 2, 2023
    brian991219, Feb 2, 2023
    #5
  8. Feb 2, 2023 #6
    Judge

    Judge Road Train Member

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    Judge, Feb 2, 2023
    Judge, Feb 2, 2023
    #6
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