Insurance problems

You're going to have to go a different route my friend had a similar problem to you. He basically had to lease his trucks onto his brother's company. If you start another company with the truck that was in a accident insurance companies keep track of the Vin numbers in their databases. To relieve your stress you have to move on from your business. You have to come up with another way to do business. I hope the best for you.

 

These cats are right. I'm just now about to complete the first full year of having my own authority. Its been just me and my W900 and a 53dry. I've been solid good with zero tickets, zero losses, and zero OOS. Now my good buddy in my hometown (Abilene TX yall) is wanting to run a semi he just bought, along with a flatbed, and a 1-ton dually on my authority. And lemme tell you something .... I'm nervous as a ##### in church.

 

All you can do is shop around. Try to find one with the lowest upfront costs. Starting a new mc# wont work,unless in a different (Owners) Name

 

Dude, bad idea. You will be fully liable for everything he does, as if they were your own trucks and drivers. When you let someone run under your authority the DOT as well as insurance look at it as if you owned and employed them.

Unless henisnpaying you real well for use of the authority, like 15-20% of the gross he is collecting as well as the increase in your insurance I would say no way. You will need lease agreements and by law have to provide all the insurance coverage except bobtail (non-trucking liability), and anything he screws up on DOT inspections counts against your numbers.

Not to mention, heaven forbid he or his driver is in an accident, you will be on the hook for the injury/loss.

 

Did you fire the drivers?

If not ... good luck.

 

Sounds like he did but not quick enough.

Best advise..... EVER.

 

Might be time to cut your losses and try to find a top-level position in a trucking company or be a driver for someone else. It's a shame that you can hire on anyone and they can cause all this damage to your company and then once they're gone they've left a #### stain on your company forever.

 

Well he said he'd absorb any and all the extra cost, ie adding them to my consortium , truck maintenance files, ifta filings, obtaining the mvr's, and the additional insurance costs, everything. And of course he'd give me 5% of the bottom line on all transactions. (Many folks don't realize it but the payment for services goes to whatever company name is displayed on the truck, so any money would be going to my company account). Believe me I did plenty of research before I obtained authority. About the only thing I can hope for is that my buddy will change his mind when he sees how much it's gonna cost to insure his trucks on my policy because lemme tell yall this:... even with this 1st year complete with no issues whatsoever, it's still an ungodly amount to carry insurance. And I ain't fixin to join no truckers union or a club where I gotta pay monthly or yearly dues unless it's a real deal where the power of the numbers can change the course of a free fall. Other than that, I stand alone .