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Question about Applying for Authority..

Discussion in 'Ask An Owner Operator' started by hawkjr, Jan 31, 2013.

  1. Jan 31, 2013 #1
    hawkjr

    hawkjr Road Train Member

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    Feb 28, 2010
    Virginia
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    It says you have to show that you have purchased insurance, is this cargo insurance or truck insurance or both?? The reason i asked, If your trying to buy a truck and the bank or finance company wants to see proof of authority/pre-hire for a company you plan on leasing to, then how are you going to show authority when you don't have a truck but you can't get insurance because you don't have a truck to get it on... Slight help here
     
    hawkjr, Jan 31, 2013
    hawkjr, Jan 31, 2013
    #1
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  3. Jan 31, 2013 #2
    mnmover

    mnmover Road Train Member

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    Apr 5, 2009
    Lichfield MN
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    OK, here's how it works, you have to have insurance in place for 2 weeks before your authority will be granted. Then you have to file process agents and have a drug-alcohol testing in place before you start operations. Don't forget to have an app for employment for yourself and a pre-employment drug test also.

    The insurance is for general liability to protect the public, not collision on your truck.
     
    mnmover, Jan 31, 2013
    mnmover, Jan 31, 2013
    #2
  4. Jan 31, 2013 #3
    WStoughton

    WStoughton Bobtail Member

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    Jan 29, 2013
    Westfield, NY
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    With your own authority you'll need primary liability, BTDH, cargo and if financing your truck, physical damage too. If just starting out it will cost you around 10k$ per year. I got my own authority in 2008 for three trucks and got rid of it last year due to high insurance costs and all the filings required. I now lease them on with a non forced dispatch carrier who takes 15% and covers everything but BTDH insurance and they do all the tax, IFTA, and Federal filings. I haul the same freight for the same rates with a lot less headaches.
     
    WStoughton, Jan 31, 2013
    WStoughton, Jan 31, 2013
    #3
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