Authority without a truck?

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

  1. Mike11225

    Mike11225 Bobtail Member

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    7
    Mar 19, 2018
    Stamford, Connecticut
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    If a newbie wanted to get their own authority.... what is a good starting capital ??? 250k ???
     
    Rideandrepair Thanks this.
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  3. Mike11225

    Mike11225 Bobtail Member

    25
    7
    Mar 19, 2018
    Stamford, Connecticut
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    Have you made any progress ? I'm very curious !!!
     
  4. younglite

    younglite Bobtail Member

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    Oct 17, 2018
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    Setting up my company now. Haven't bought a truck yet. Jury is still out on the original question. I still have "experts" saying you don't need a truck for authority. Many disagree. I should just call FMCSA direct. I'll report if I get a clear answer.
     
  5. Rideandrepair

    Rideandrepair Road Train Member

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    36,694
    Aug 8, 2015
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    You asked. Authority requires Public Liability policy of Minimum required amount $750 k. For each Truck that’s running under you’re Authority regardless of who owns / leases Truck. Regardless of Who Drives Truck (You or you’re Driver in your Owned or Leased Truck) Or If an O/O runs under your Authority ( Leases on to you with his Truck with his own Collision / Theft etc Ins) By law. Most Shippers require proof of 1mil coverage.All requirements are available on line at fmcsa website.
     
  6. Rideandrepair

    Rideandrepair Road Train Member

    12,267
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    Aug 8, 2015
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    $100 in pocket and a full tank of fuel outta be good
     
  7. Truckwithchris

    Truckwithchris Bobtail Member

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    Apr 25, 2019
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    You do not need to own a truck. I am a driver leased on with a great company. Before this I help a buddy of mine build up his company. When I first entered the company he was renting 1 day cab, and 3 straight trucks. Had to have his own liability which I part of the company as a whole not the truck! He had his a Mc number and dot. You do not need to own the trucks. Once you apply you then can shop around and let insurance company know you will be leasing said truck and will get vin numbers to them for proof of ins. For truck. They can give you quotes and get policy going based on type of truck. 2016 Cascadia is a 2016 cascadia lol. Vin is just to insure exact said truck. You can tell them you need policy opened to rent/lease truck. They want your money. So many ppl just nuked this question. Guy couldn’t get an answer to save his life. Hope this helps!!!
     
    Last edited by a moderator: Nov 19, 2019
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