Ryder 26' truck rental. Any requirement for hauling someone else stuff for money?

You'll have to get legal if you are starting a business. You'll find these links helpful.

https://www.protectyourmove.gov/

https://www.fmcsa.dot.gov/rules-regulations/administration/fmcsr/fmcsrguide.aspx?section_type=A

 

OK got it, you want to expand your uShip business and make it legit.

I hope you have money, renting is not the way to go.

I don't know if you have to establish yourself with your state as a house hold mover, I remember many states require this and a few will come down hard on you if you don't.

Also an LLC won't protect your assets if you are driving, it just doesn't work that way.

By the way, renting a truck is expensive, especially if you get into a problem with it. If you get into an accident and say you have a claim of damages against you, if you don't tell Ryder you are doing this for profit and they find out, there goes your insurance coverage and as I'm told by Ryder you won't ever rent from them again.

 

All I can say is, good luck. The amount of crap you have to go through to be actually legal, will out pace a part time operation. Did you look into cargo insurance, that is the most expensive part for a start up. You can buy nice used box trucks for less than you will spend on insurance for one year.

 

Reading his posts, I get the impression, he thinks the insurance he is paying to rent the truck will be all is needed.


Been watching Shipping Wars is my guess.

 

Simply because LLCs are designed to provide some insulation from liabilities in some service and retail businesses but not all. Being you are going to be the driver and manager/owner of the business, the limitation go out the door - in other words you control everything and making a decision that puts property or lives in danger can be construed as reckless removes that limitation. Any good lawyer can pierce the veil of protection and go after all your assets except your retirement (401 k/pension) and should.

More on a professional note, this isn't a part time gig but a full time one. Yopur competition isn't going to be easy to deal with, and if you depend on uship for your work, then forget it - that's a scam and costs us, the trucking industry lots of money. I count four types of insurance you will need, maybe five, including your cargo insurance and truck insurance (read the fine print of the Ryder/Penske agreement by the way). Your costs in insurance (just your business liability insurance) will be high with no establish business experience, and that's not even the truck stuff. You better have that because say you go to my house and while you are moving my stuff, you damage the rug or knock down something, I expect to be compensated for it.

Ryder may refuse and should for that matter to rent to you unless you are a bona fide business with proper insurance and business licenses. You are looking at insurance as if it is easy to obtain, but when you sit down and look at the true costs of things, you will be surprised.

 

Do yourself a favor and google "Piercing the corporate veil"