Insurance to keep authority active? Recommendations?

Okay I have heard it all.

1. Doesn't matter the distance, I have done it both ways as far as interstate and intrastate cost the same.
2. I am going to be quiet

 

So, you’ll keep up with all the expenses, have no revenue, and at what point will “the amount of fraud” for this industry change?





What I am getting at; is that what you are planning on doing will cost you money, and never have a return on that money.
^ this is not an opinion.

If what you have been doing isn’t working sufficient to your needs- you have to change the plan. If the plan is to keep paying into a sinking endeavor- you just end up deeper in the hole.

 

That’s the point, there’s NO Cheap. You can reduce everything to the bare minimum but you’re still gonna to be paying just to keep your numbers active. I tried this, I was only saving a few hundred so it was still expensive. I pay now close to 1k a month. It’s not worth it. Keep it or dump it. Seems your trying to keep your MC active so it could age and sell it for thousands, then sacrifice paying now and maybe you’ll break even when it matures.

 

You don't seem to understand that you are literally talking with your competitors. They want to you gone. The more that leave the industry, the less carriers there are. The less carriers there are, the higher the rates.

You can cancel your IRP and IFTA and park the truck. Then take the CMV off your policy and add a pick up truck or van that's less than 10001 GVW. Get the absolute minimum coverage required for your state and pay it in full for the year. Do this annually for as long as you need.

 

There's no such a thing as going dormant or cheap due to 'no use' liability that I know of. You still get to keep your MC# but it is designed in such a way, that upon returning, you're almost considered a new entity. Maybe, If you are in a good connection with a broker, but not one of those big guys though, they won't shy away from you but insurance carriers are much less forgiving.
What you think of, has been thought of and tried before. If it were that easy, almost everyone would want to have that option; you get tired, so you click the button and the game is suspended until after you take a nap. That would be very convenient, I admit.

 

I still used the FMSCA minimum of 750k. Cost me 1200 for the entire year and that included filings with the state and the feds. You'd have to cover at their mandatory minimum if you want to keep the authority active. I recently sold that MC for 25k. It was nice to let it all sit while I decided if I was really done with it or not.