Does operating authority cost more to insure?

Discussion in 'Motor Carrier Questions - The Inside Scoop' started by JohnSmith69, Oct 21, 2020.

  1. JohnSmith69

    JohnSmith69 Bobtail Member

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    I work in construction (side dump) but I used to work on the oil field and needed to have my own MC number but now I work locally and don't need an MC number but still pay $900 a month in insurance. Am I paying a lot because of my authority or is insurance just expensive? I'm not leased on to anybody's insurance and I have 60K in non-owned trailer and 50k in cargo on my coverage. I'm just gonna cancel my authority because I don't use it. Thanks in advance
     
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  3. GoBucks43228

    GoBucks43228 Bobtail Member

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  4. DUNE-T

    DUNE-T Road Train Member

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    Get a quote from a local insurance broker for the type of work you do
     
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  5. dclerici1

    dclerici1 Medium Load Member

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    That’s a lot of cargo ins for a load of rock. A lot of factors involved, your operating area, your experience, any tickets on record. Ins is expensive now, Progressive is way more expensive than it used to be. You should shop around.
     
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  6. User666

    User666 Medium Load Member

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    Yes, insurance is more if you have your own operating authority because the coverage limits are significantly higher. At a minimum the Feds require 750k in liability alone. Personally, if you're not using your authority; why spend on the insurance for it then? I'd cancel it and put that money into my pocket instead of some insurance company's.
     
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