How to Keep Your Authority After Truck Sold?

If they get here first i'll rent you one.

 

So let me understand it.
The main dilemma is that when you sell the only truck, in order to keep MC# active for the purpose of not losing its "age", you need to have an active auto liability coverage.
The reason behind this is that if you cancel the auto liabililty, your authority is suspended so when you reactivate it, the brokers might treat you as a new entrant...which means not being able to haul for some of them for some time.

Then another question is that if you cancel the coverage and after some time you buy a new coverage for the next truck, is it going to be also at a new entrant rate from the view of a insurance underwriter...despite your MC# having an established "age" or are they going to treat you as a less risk carrier, which intuitively should be the case?

Finally, is it even possible or legal to have a coverage on a truck that's not owned nor used by you any more?

 

There is no requirement to use a class 8 truck, any vehicle used for hauling can be used. I bought a small company where the owner sold off the big trucks and used his pickup (1973 ford with a fifth wheel) to keep the authority going because he said fmcsa needed a vehicle for the insurance.

 

Yes, if you are going to use it.