New Owner Operator

[Hanadarko]

Someone on here just got a quote for around $11k going out on their own. My insurance is $5,600 for cargo, liability, $35k collision for my truck and $10k for my trailer.

And by the way. An O/O is someone who is leased on. Someone with their own authority is a Motor Carrier.

In our world, an O/O is exactly that. Someone leased is called an L/O.
But no one goes around saying they are a "motor carrier" - they say they are an O/O or perhaps an Independent O/O.

Now...
Without knowing -ALL- the facts, there are many variables that play into insurance costs.
Radius, value of the equipment as well as driving record and even credit score.
Put the business in a woman's name and watch the rates drop even lower and then look into minority advantages.

Typically a new guy starts out around $7k.
Progressive is usually the best choice for a guy starting out and they have TONS of different payment plans
and will give very good discounts for a paid-in-full policy.

If you can afford to pay the policy in full, thats the best way and one less thing to worry about for the 1st year.

Of course there is IRP/IFTA/UCR and enrollment into a DOT drug/alcohol testing program ($$) and so many other dam fees
its amazing.....So far, the biggest fees I have encountered is getting setup to run up and into the Canada Provinces...

To get listed and setup with all of them is approaching the $2k mark.....

BC i think stands for Bring Cash.

 

[Les2]

Someone on here just got a quote for around $11k going out on their own. My insurance is $5,600 for cargo, liability, $35k collision for my truck and $10k for my trailer.

And by the way. An O/O is someone who is leased on. Someone with their own authority is a Motor Carrier.

Technically you are right, but.............

If you Own the truck and Operate the truck, you are an O/O... If you Own the truck and Operate the truck under your own Authority you are an O/O with your own Authority... If you have many trucks, then you are more of a Motor Carrier, but if you just have one, you're really just a O/O with your own Authority. But I'm gonna guess you like to say you are a Motor Carrier, huh? Probably makes you feel better about yourself doesn't it.

But technically you are right.

Most people with their own authority don't care to make it known to everyone....

Ok I'm just messing with ya.... I'm bored for a minute.

 

[That guy]

Technically you are right, but.............

If you Own the truck and Operate the truck, you are an O/O... If you Own the truck and Operate the truck under your own Authority you are an O/O with your own Authority... If you have many trucks, then you are more of a Motor Carrier, but if you just have one, you're really just a O/O with your own Authority. But I'm gonna guess you like to say you are a Motor Carrier, huh? Probably makes you feel better about yourself doesn't it.

But technically you are right.

Most people with their own authority don't care to make it known to everyone....

Ok I'm just messing with ya.... I'm bored for a minute.

All this coming from a guy that only has authority when his wife isn't around!

 

[terrylamar]

Technically you are right, but.............

If you Own the truck and Operate the truck, you are an O/O... If you Own the truck and Operate the truck under your own Authority you are an O/O with your own Authority... If you have many trucks, then you are more of a Motor Carrier, but if you just have one, you're really just a O/O with your own Authority. But I'm gonna guess you like to say you are a Motor Carrier, huh? Probably makes you feel better about yourself doesn't it.

But technically you are right.

Most people with their own authority don't care to make it known to everyone....

Ok I'm just messing with ya.... I'm bored for a minute.

"Technically?" How about legally? I am a Motor Carrier, if I have one truck or many thousands.

 

[Les2]

All this coming from a guy that only has authority when his wife isn't around!

Like its any different at your house... BTW what was it you was watching the other day when I called..? Toy Story I think...LOL

"Technically?" How about legally? I am a Motor Carrier, if I have one truck or many thousands.

Isn't Technically and Legally the same thing? I'd think so in this case.

 

[TAPS]

If you are leased to a "Motor Carrier" you are just that! "Registrant"
An Owner/Operator can be both or just one, but if you have your MC# or are "for Hire Exempt" you are a Motor Carrier by DOT definitions.
Just to get started with your Permits MC# etc is going to cost you about $1,000 add the IRP tag that can range upwards to $2700 per year and then you have the "INSURANCE". This is where it is make it or break it. Insurance is very costly and and they run everything. Not the DOT!! Just have one claim and see if you can afford to renew!
If you are a good driver with experience and more than 2 years great driving record you might get a good rate, of course this will depend on so many other things, of course all the stuff the insurance company will ask you. Where do you go? What do you haul? etc. And if you have a claim on a product that you did not tell them you were hauling, they just may decide not to cover it!!

Just saying!!

Fred S

 

[buffalogal]

We just started in October. We've had a ranch and hauled livestock for 12 years, so by some miracle, we got fantastic insurance rates. That said, everything else is new. We're using a flatbed air ride and an older Peterbilt. We are choosy about loads and have learned a few things. One thing is that some brokers will tell you one thing over the phone to get a commitment and the confirmation sheet has different details. Hint: if the sheet says "no detention will be paid", take a good book and plan to waste hours waiting to get loaded for no extra pay. Or, just say bye bye to the load and move on. I'm compiling a list of bad brokers and shippers who've screwed us over so we don't make the same mistake twice. We don't haul for less than $2/mile. You may already know that some states charge a mile tax. The ones I know about are New Mexico, Oregon and Kentucky. Good luck!