Voluntary Revoking Operating Authority.

I did a voluntary revoke right at a year ago now. Was told that I could reinstate my insurance and be up and running under my own numbers again in 4 business days. I was also told by my insurance company that I would experience a premium increase due to the lapse in coverage. Not exactly what you're looking for but maybe it helps you some lol

 

Soooo....the bottom line is....if you are a one man operation F you and your back pain and insurance premium refund issues. Don't be a wuss and get hurt or your gov will punish you which also leads to being punished by most brokers....and for a long time!!!

Getting hurt or needing down time is for losers apparently. Don't be a loser.

Bite me OOIDA and NASTC.

 

I feel for you 6 wheeler-

See,This Industry is "set up" for the financially strong only

Suspending authority weakens your overall image to everyone.

Then,As stated,You have reinstatement Fees, Brokers Frown upon your "gap", Insurance premiums can increase,etc.

All this because you need a "break" for a Bit.

You can probably Thank the Thousands of entrants that never took the business of trucking seriously and prematurely cancelled or revoked their authorities for dumb or obnoxious reasons, I Don't know.

If you can 6 wheeler- Keep it Alive-Don't suspend it,

Plus you may open up the door for another FMCSA "New entrant" Audit

Just too many things that can ruin your 10 year history by suspending authority.

 

With the 1 month extra insurance, and the $80 reinstatement fee for MC number, best to not shut it down.

If you do, fill out the OCE-46 form and fax it in.

 

We did a voluntary revocation and after 1 1/2 years reactivated. The ins. companies looked at us as a new O/O and our rates were astronomical for a year (we have been on the road for 20 years).
Don't do a do it unless you are able to work it out with your ins. company.

 

And I just find myself coming back to WOW how can they do this!? How is it not a criminal act or at the very least a ethical question for the morons that make it this way?

 

Yup just had to get my insurance set up again, no big deal.

 

Sure,And pay atrocious premiums right?

I know, Like I say, This system is designed for the wealthy carriers only.

Just like anything else in life these days..........If your Broke or middle class- Your Insignificant.

Money has taken over the power of kindness.

 

No I didn't have to pay any "atrocious premiums"

 

Wealthy people can more easily lose site of the principles of not wanting to give away money for no reason.....especially to government.

Even worse, people who inherit wealth never had a clue to begin with and never will.