Authority Lease On.

That 7.5% is not gonna pay for a freight claims, lawsuits, and settlements. If you’re in trucking and having guys lease on. -You’re gonna have them. You won’t even break even at 7.5, not even close. Have you gotten an insurance quote on adding an o/o? I’m assuming not.

 

When I was running on a friend’s authority pulling his cattle trailer but finding my own work he took 15%. When I was only using his authority while pulling a pneumatic for a different guy he took 3%.

 

I don’t see how they’rd be much to gain besides a lot of headaches. If you’re using that authority and insurance to run your own truck, you’d be putting it at risk letting randos run under your numbers. If it’s a buddy buddy deal with a couple other guys you know and trust that would be different.

 

I’d want like 25% if I was running a company that would actually attract anybody worth hiring. (good paying freight, insurance, ELD, big fuel discounts, same day/next day settlements, trailer if you need one.) Otherwise they can go start their own company if they want to gripe.

 

This current market is chaotic considering how unpredictable it is. Unless you can see a real profit generated, I wouldnt chance it right now.

 

Be very careful, speak with a transportation attorney. make sure you are set up correctly and properly protected!!! I had to take a year off the road, signed on a guy to help keep the insurance paid and numbers active while I was out. He was a friend of a friend, and someone I news for 7ys, clean commercial MVR, couple tickets in his personal vehicle. Was involved in his first CMV accident 4 weeks after signing on. 2 injuries, insurance paid out policy limit to one claimant, the other sued. Lost a 4.5M judgement to the guy who admitted fault. Cops lost the body cam footage and confused accident details of our wreck with another she investigated the same morning. Judgement based on negligent hiring and driver negligence for not avoiding being cut off by vehicle abruptly pulling off the shoulder.

Same driver, different truck, 2 months later, someone pulls in front of him again from right to left and stopping. This time he takes evasive action sacrificing his truck and the load to avoid the car. 2nd truck totaled and load scrapped. Other car cited but had no insurance or licensed driver. 2M+ paid out by insurance in 6 months, 2 tow away accidents. 1 truck operation DOT numbers trashed.

Mandate dashcams, make sure drivers know what information to gather and record any interactions at the scene ESPECIALLY with the cops. Have a GOOD attorney on retainer, do not trust or rely on the insurance companies attorneys. This needs to be done FIRST, at the time of an accident you will be too busy and may not have the funds available to hire the help you need.