Question on truck insurance

You can get temporary bobtail insurance for that - I wish I still had the number handy, but I don't. Google search temporary bobtail insurance - it wasn't expensive at all. You do need to have a US DOT# for alot of the filings, even just being leased on. They're not hard to get, and I think it'll be required. You'll use the Carrier's DOT# on the side of the truck, but I know I had to have my own as well.

 

Thanks HwyPilot. I'll get DOT#, and look up on temporary bobtail insurance.

Does bobtail insurance provide the coverage when you are pulling your own trailer for private use? The coverage name "bobtail" suggests otherwise, in which case, I'll need additional coverage.

I have my own trailer so I need to take it with me to the orientation.

 

So let me see if I have this right. The company I am leasing on to must provide the Primary Liability insurance for my tractor? By law? I know I must provide bobtail and physical damage insurance on my dime.

 

You've got it right, the Motor Carrier has to have current insurance on file to keep their authority active. The bobtail and physical damage is for your own equipment.

 

It might cover you, but I'd ask the agent you talk to about that - they'll know for sure. I haven't owned a trailer yet, so I wouldn't know that one. I do know that when buying phycsical damage coverage, it's totally separate policies between the tractor and the trailer.

 

You are looking for Non Trucking Liability insurance, not Bobtail.

The motor carrier is responsible for Primary Liabilty and Cargo insurance, but nothing prohibits them from charging the cost back to a lease operator. Very few companies do this.

You need a Registrant DOT number, not to be confused with a Motor Carrier DOT number. Many states will require this in order to get your plates.

If you are heading to Louisville with a flatbed I assume you are going to Mercer, and will be having them provide tags for both your vehicles? In that case you should not need the registrant number because the tags will be in Mercer's name not yours.

I just put two trucks on there. Took one up with no tags on it at all, also no names or DOT numbers displayed on the truck. They will give you a letter stating you are traveling there for the purpose of leasing on, and most DOT types will accept that although it carries no legal weight at all.

You may not be able to get insurance though if the vehicle is not registered. Typical catch-22 when it comes to dealing with motor vehicle laws. If you decide to put a tag on your trailer yourself check into doing it in Maine.

 

Yes, I got pre-approved for leasing a truck to Mercer. I think I found a good truck (a former-Melton T600), filling out the loan application as we speak (or write).

I decided to lease thinking it would make the process a little easier, but as you say, I keep getting tripped on numerous catch-22 situations. But I still think it is a better way to go for a newbie O/O like me.

I am going to talk to a local truck insurance agent today, and get a quote on Non-trucking liability and physical damage. CA offers a 90-day temp registration for commercial trucks, so I think I will get that, for the purpose of getting insurance if an insurance company requires it.

I bought a trailer locally, from a former O/O. Paid cash for it, so I probably won't get physical damage coverage on the trailer for the time being, it if it's too expensive.

The former trailer owner already had CA permanent trailer plate, so I simply went to DMV, paid tax and fees and transfered the title. I am going to get the truck plate from Mercer.

Off-topic question:
Do I need to get temporary trip permits for all the states you drive through on the way to orientation?

 

How are you making out on your truck financing? They're already waiting for you to show up for orientation

 

I know, Chris called me this morning.

I was actually going to get a truck locally - found an '07 Century and applied for a loan through the dealership. They deal with 3 lenders, and all 3 wanted $8k more downpayment, on top of $8k I allocated for it, plus 15+% APR. My credit score isn't too bad either - it is 728 on Equifax.

So that deal fell through, and set me back by a week. Then I found the T6 I'm hoping to buy. I sent in my loan application yesterday, so hopefully I'll hear from them by the weekend.

This truck is $8k less than the Freightshaker I was going to buy. Other than slightly less power (475 vs. 515) and it's one year older, specs are nearly identical. So I guess getting turned down on the 'shaker was a blessing in disguise.

I already tried my bank for business loan prior to going to dealership. No dice. Ironic - trucks are cheaper than ever, but nobody seems to be willing to lend.

I'll keep your offer in mind, in case this new deal also falls through.


I went to a local Progressive agent and got a quote on non-trucking liability, with comprehensive & collision attached to it. $1960-ish for a year for both tractor and trailer. Seems kinda high compared to other numbers I've seen on this forum, but that could be due to the addtion of comp/collision on both tractor and trailer ($2500 deductible w/ waiver)

 

15% APR ?! Holy ####e, yeah it was definitely a blessing in disguise to walk away from that. When I hear those figures, it's all I can do not to accuse people of robbery! That's about what I've heard from alot of people in the last year. With customers defaulting on loans left and right, the banks are starting to get ridiculous. If borrowing was difficult before all this, it's downright challenging now. Good luck to you, and I hope it works out!