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owner operator that leases on to a company cost

Discussion in 'Ask An Owner Operator' started by Tim_1326, Dec 20, 2015.

  1. Dec 20, 2015 #1
    Tim_1326

    Tim_1326 Light Load Member

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    Sep 29, 2015
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    had a question about approx. cost of things. to lease on to a carrier and pull their trailer they would have the cargo insurance correct? so what kinda insurance would I have for the truck? and what is monthly premium to expect? like I know the cargo insurance is expensive. when I hear having to having like a 1,000,000 policy is that for complete idependants owner ops or is that for everyone? thx
     
    Tim_1326, Dec 20, 2015
    Tim_1326, Dec 20, 2015
    #1
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  3. Dec 20, 2015 #2
    ramblingman

    ramblingman Road Train Member

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    Jan 12, 2014
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    My policy for the year leased on was 4500. Fully independent cost about 14k
     
    ramblingman, Dec 20, 2015
    ramblingman, Dec 20, 2015
    #2
    Tim_1326 Thanks this.
  4. Dec 20, 2015 #3
    TaylorMade407

    TaylorMade407 Road Train Member

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    Jun 30, 2009
    Orlando,FL
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    Usually when you lease on to a company only thing you provide is bobtail and physical damage. Most companies can set that up through whoever they get insurance from and get you a cheaper rate vs you getting it on your own. My bobtail is $20 and physical damage is $20 per $10k the truck is worth. Hope this answers your question
     
    TaylorMade407, Dec 20, 2015
    TaylorMade407, Dec 20, 2015
    #3
    Tim_1326 Thanks this.
  5. Dec 20, 2015 #4
    Tim_1326

    Tim_1326 Light Load Member

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    appreciate it . thank u
     
    Tim_1326, Dec 20, 2015
    Tim_1326, Dec 20, 2015
    #4
  7. Dec 20, 2015 #5
    rollin coal

    rollin coal Road Train Member

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    Read the fine print of the lease contract. Some companies pass off all the costs. Some don't. Most times the higher the percentage pay the more charge backs you will pay therefore a company offering 90%/10% cut you're really probably 80/20 or 75/25 or so in reality. A company taking 20 to 25% or more should cover everything. Don't get hung up on percentages. A higher percentage cut isn't always better in fact most times it is worse. Read the contract and ask questions. Lots of shady contracts out here.
     
    rollin coal, Dec 20, 2015
    rollin coal, Dec 20, 2015
    #5
    Tim_1326 Thanks this.
  8. Dec 21, 2015 #6
    Tim_1326

    Tim_1326 Light Load Member

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    Sep 29, 2015
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    Thx 4 info!!
     
    Tim_1326, Dec 21, 2015
    Tim_1326, Dec 21, 2015
    #6
  9. Dec 21, 2015 #7
    txrunner

    txrunner Bobtail Member

    1
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    Dec 17, 2015
    0
    How is the pay over there for an o/o
     
    txrunner, Dec 21, 2015
    txrunner, Dec 21, 2015
    #7
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