insurance question

How the papers are written up on lease will tell, you will have a smaller 10 % taken out of the money with you paying for it.

 

Most carriers will require you to give up your authority when you lease on to them. I have a friend who has been leased to a carrier for about 26 years, but still maintains his own authority. If his carrier doesn't have a load then he can haul one under his own authority without having to give them a percentage.

 

If ur o/o does the company pay insurance

 

You pay the insurance. They either bill you directly or they take it out of your pay. Either way, you are the one paying. Buying through them might get you a cheaper rate if you have problems that can be offset by others.

 

When you lease to a carrier they pay the auto liability and cargo insurance. You are responsible for paying for bobtail or unladen liability. When you lease to a carrier you will usually be required to pay for your own workers comp or an occupational accident policy. If you run your own authority, you pay for all the insurance.

 

Carriers cannot require you to use their insurance. Some do offer a discount when you use a certain insurance company and may take the premiums from your settlements. This is usually for bobtail or unladen liability. Some may also offer an occupational accident or workers comp policy that you can pay through them. When I leased to another carrier I preferred to have my own insurance that was independent from the carrier. Some carriers may also offer collision coverage on your equipment. Again, I prefer having my own insurance independent from the carrier. If you have your own insurance you don't have a lapse in coverage should you leave that company.