Insurance

Depends how you want to charge him. Some carriers charge o/o flat 20% for everything, some do 10% and o/o pays extra for insurance. Every company is different

 

You can charge whatever u want if o/o agrees to that

 

NO. Per the FMCSA regulations the motor carrier that owns the authority is responsible insurance. The leased operator is only responsible for non-trucking liability. It may be legal to charge-back for some of the costs of insurance but the bulk of it is your responsibility. A leased owner-operator is looked at the same as a company driver and his truck as if you owned it in the eyes of the DOT. You become fully liable for all his actions!
See 49 CFR Part 376.12
(j) Insurance. (1) The lease shall clearly specify the legal obligation of the authorized carrier to maintain insurance coverage for the protection of the public pursuant to FMCSA regulations under 49 U.S.C. 13906. The lease shall further specify who is responsible for providing any other insurance coverage for the operation of the leased equipment, such as bobtail insurance. If the authorized carrier will make a charge back to the lessor for any of this insurance, the lease shall specify the amount which will be charged-back to the lessor.

 

Well said @brian991219, you put that one to bed!

@right1, one side of insurance is what is required by private agreement & government regulation and the other side is any insurance that you may want to consider to protect the rest of your business operations. One rule of thumb is to never rely on someone else's insurance to make sure you are covered. I would talk to your agent to review the agreement and help navigate you.