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Six month Cargo Insurance ?

Discussion in 'Ask An Owner Operator' started by Verdel, Jun 22, 2019.

  1. Jun 22, 2019 #1
    Verdel

    Verdel Medium Load Member

    586
    130
    Oct 26, 2013
    0
    I am looking to work only 6 months of the year and wondering what is the best way. Is it possible to stop the cargo insurance but maintain "NON TRUCKING" or other bobtail insurance and keep my registration and DOT and MC numbers active, while my truck is not used, parked on a storage lot.
     
    Verdel, Jun 22, 2019
    Verdel, Jun 22, 2019
    #1
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  3. Jun 23, 2019 #2
    spyder7723

    spyder7723 Road Train Member

    15,442
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    Mar 31, 2013
    sarasota, fl
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    In theory the moment you suspend your cargo and liability insurance your mc number gets suspended. In practice it probably takes a week or so for the feds to update but by law the insurance company must notify the fmcsa you no longer have coverage.
     
    spyder7723, Jun 23, 2019
    spyder7723, Jun 23, 2019
    #2
    ibcalm19 Thanks this.
  4. Jun 23, 2019 #3
    Verdel

    Verdel Medium Load Member

    586
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    Oct 26, 2013
    0
    The only way I found is to get another truck (Contractor) in the company to stay on the insurance all the time, then I can remove and add my truck as need it.
     
    Verdel, Jun 23, 2019
    Verdel, Jun 23, 2019
    #3
  5. Jun 23, 2019 #4
    Opendeckin

    Opendeckin Medium Load Member

    391
    1,016
    May 20, 2018
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    You can drop cargo insurance completely. Cargo insurance is not a legal requirement to maintain your authority. It's a customer requirement to haul their freight. The liability is the part that matters to the law.
     
    Opendeckin, Jun 23, 2019
    Opendeckin, Jun 23, 2019
    #4
  7. Jun 23, 2019 #5
    Verdel

    Verdel Medium Load Member

    586
    130
    Oct 26, 2013
    0
    I have heard that you can drop the Cargo and maintain other type of insurance for about ~ $100/monthly and your MC and DOT will be active...
     
    Verdel, Jun 23, 2019
    Verdel, Jun 23, 2019
    #5
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