Authority without a truck?

Discussion in 'Ask An Owner Operator' started by younglite, Oct 17, 2018.

  1. GreenPete359

    GreenPete359 Road Train Member

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    33k had to be for a full year. No way you can afford 66k in insurance per year.

    Even still 33k is straight outta hand. Good luck keeping a float paying that premium .
     
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  3. Bumblebee101

    Bumblebee101 Light Load Member

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    Pretty sure you can get a insurance policy for just the authority. You pay the cargo and possibly liability for the numbers. Just call a local commercial insurance company.
     
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  4. younglite

    younglite Bobtail Member

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    Nope. I was warned that insurance companies had begun to overprice themselves this past year due to so many new entrants having wrecks. When I got the quote, I asked her, "Did you say for just six months?" She said yes with no apology in her voice. I told her she must be crazy. She said, "Would you like to start today?" I hung up. For some reason, Louisiana is not covered by many insurance companies, so that may factor into the high premium, too.
     
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  5. AlexanderK

    AlexanderK Light Load Member

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    Leased truck and trailer. In order to own active authority you'll need to obtain insurance. And to have an insurance you'll need equipment (and their vins).
     
  6. younglite

    younglite Bobtail Member

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    The question at hand is not whether you can be an o/o leased on to a company. That is easy. You simply use their DOT/MC and insurance. No authority needed. The question is whether you can independently get authority while leasing on your own, without specifically owning a truck.
     
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  7. GreenPete359

    GreenPete359 Road Train Member

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    Yup. And we need someone on the insurance side of the business to jump in here.
     
  8. GreenPete359

    GreenPete359 Road Train Member

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    Man i feel for you on that one. Wow! My qoute from Progressive was 22k for a full year. 1/2way thru i was put in touch with a lady from Rohmer Ins. and she found me a cheaper policy. My premiums went from $22k to $14k. I also carry $350k cargo. One of my customers requires that

    Edit: the weird part about the new policy tho was i had to wait a full year before i could expand the business. I wasn’t allowed to buy any trucks or trailers until the year mark was up
     
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  9. Rideandrepair

    Rideandrepair Road Train Member

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    That’s the right answer. The only insurance you need is liability minimum of $750k although you’ll need to increase to 1 million as most Brokers require that amount also Cargo ins minimum amount $75k also will need to increase to 100 k as that’s usually required . Having a Truck isn’t required . For instance you could be 100 % O/O like Landstar is. I may be wrong on Cargo Minimum required by Law but you get the idea I hope.Personally I would not get it until ready to use due to the big expense.Theres lots of Brokers that will book you and also you will then have references. In 14 yrs an 1711 loads only been refused a hand full of time.My response is Are you sure you even have the freight? I don’t beg for work . Remember You have the Truck therefore the Power to make it happen.Best wait till ready to roll or run Others under your Authority.
     
    Bumblebee101 Thanks this.
  10. Rideandrepair

    Rideandrepair Road Train Member

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    Last 3 former insurance Commisioners went to Proson Lol
     
  11. Rideandrepair

    Rideandrepair Road Train Member

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    Yes
     
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