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

wrx12 · Nov 28, 2013

Roadmedic said: ↑

Do yourself a favor and google "Piercing the corporate veil"
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I thought as long as there is separation this would never happen. I will look more into it. Thanks!

wrx12 · Nov 28, 2013

Ridgeline said: ↑

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.
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Thanks, I'll look into it more.

And I will be signing up for load boards.

True I didn't even think about business insurance. Thanks, this is why I posted here to get great feedback like yours.

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

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