I own my own truck but I work under someone else. I really want to get my own authority but not sure how to go about it. Can someone please tell me how to go about it and around how much money am I looking at to get it going.
Authority help !!
Discussion in 'Ask An Owner Operator' started by butterbean1977, Apr 29, 2014.
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Apply for US Dot number first thru fmsca website. Its free of cost, then apply for docket number which is known as MC number as well. It cost around 360 $. This number will remain inactive until you get an insurAnce on your truck. Once you have the insurance your insurance broker will upload your insurance on fmsca website and then you are good to go on your own. In between you have to file an application for process agent as well. I would suggest become member of OOIDA . they will file it for free. Any other question, feel free to ask. Good luck.
butterbean1977 Thanks this. -
They give out Authority Like Candy
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Start with reading the sticky thread at the top of this forum (So you want to "own " your own company).
It pretty much covers everything you need to do.jbatmick Thanks this. -
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Other the costs, most if not all of the basic information on the initial post on there is still valid and it is as good a place to start as any. The thread has been added to continually since it was started so it is not completely out of date. -
You can apply for authority online. Go to the fmcsa website. The filing fee is $300. You will need a minimum of $750,000 auto liability insurance to get authority and registered agents in all jurisdictions in which you wish to run. If you are a member of OOIDA, they can act as your registered agent at no charge. There are services which charge an annual fee you can also use. While the feds only require $750,000 liability, most brokers will require $1 million liability and $100,000 cargo insurance. You will need insurance on file prior to your authority being granted. It takes about 3-6 weeks to get your authority active once you apply. You apply for your dot number at the same time as motor carrier authority. There is no fee for the dot number. Before doing anything, I would recommend you check around for insurance. Starting out, insurance is likely to be a little high. A number of factors go into the premium, but you will likely pay from about $8,200-12,000 your first year. A couple of years go you might have gotten insurance for around $6,000 on the low side. As I stated, you need to start with the insurance. Most will want to see a couple of years experience before getting a decent rate. There are services that will do the paperwork for you, but you can do it yourself and save the money. It isn't complicated. You can do it yourself in about 30 minutes or so. I believe the form you need to apply for authority is mcs150.
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