Trucking Authority: Can You Own Authority & Lease Authority at the Same Time?
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- เผยแพร่เมื่อ 16 ม.ค. 2020
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You most definitely can have 2 insurance polices in this situation
Same vin, different insurer (carrier) just like you can be leased on to more than one carrier.
I know for sure that if you have your own authority while pulling AMA..N freight under another company’s contract their insurance only covers the trailer while your insurance covers your tractor.
Thank you for making this video I’m in the beginning phases for my own authority now this is a very helpful video
Actually it is very possible to do that. Some carriers allow you to use your own insurance. Their liability covers you when your pulling a load under their dot. What you can also do is get insurance for non- owned trailer if you’re leasing a trailer from them. That covers their trailer when you’re using your own dot!
Great info. I'm leasing with a company now that makes you pay for almost everything. I was wondering about getting my own authority now and let it mature while I am getting this truck paid running for them.
@@msmysiahwho you leasing with?
Thank you so much. This has helped me so much since we just started this October.
Thank you for your sincerity.
applied for my own authority yesterday. Been watching your videos. Thanks, they are very helpful! And thanks for the list of brokers for newbies.
Get rid of the Freemason satan symbology it won’t help you succeed .
Thank you for the valuable information! You're such a blessing to many and continue to inspire others as you have for me!
Excellent and informative videos..thank you for sharing your knowledge. I’m getting ready to get “authority “ and need to know what brokers or boards will work with new O/O with new authority.
Thank you
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Woody spoke about this very subject in his video I believe he said he attempted to get his authority and to run 1 truck under his authority and to leave the others leased onto rst but he found out that that that option was not possible my understanding and what he was conveying was that if he owned more than one working truck they would all have to be under his authority.
Good video
And by the way great video.
This was exactly what I planned on doing. Couldn't find any info on this
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You cannot have the two coexist. if you have a DOT# your business entity has to have all owned trucks under your authority. You can create another business entity and have owned trucks leased on and do it that way.
Hi David. We are leased on to landstar. My thought was to stay with them until the authority goes active.
Hey thank you that was very informative. And I appreciate it. Brother David I can't tell you how many times you have saved my ass From making a Dumb decision
Lease on insurance is cheeped than carrier insurance for instance my authority insurance is 13k for the year an my lease on insurance is a little over a thousand for the year
I was thinking about this earlier today but it didn't seem financially feasible
Do you offer health benefits/insurance to your drivers? How does that work? Can you explained that? No one ever answers that question.
The only catch to it is there load percentage
What are some of the fee's you are paying in that 10 to 30% .Great video got some people asking about leasing on under my authority, just trying to get educated on it before I make a decision. Thanks, be safe and God Bless
U have lease on insurance different from a carrier insurance
i'm assuming your talking about the load ins being 750k and up right??
quick question might be a dumb one but I need to know when you have your own authority is it ok to sigh contracts with multiple shippers like for example to have Shnider, Ryder, Swift/Knight and others? is there any issue with that?
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What if I get an DOT number & have it sit for 3-4 months as a Company driver & than start to carry my own freight; Will that work as far as working with any broker?
I was leased to a company and running under there authority but I was paying my own physical damage and bobtail insurance. But i didn't have of course Liability insurance
Are you hiring for your courier business bro?
You can have it on two if its Bobtail Insurance. A lot of people get that to cover when they don't have a trailer attached. Another way is to put the minimum on just any car. It doesn't mater if its a Honda Civic, just put the minimum for the FMCSA on it and ride it for 6 months. Pricey but not as high as if you had a truck insured.
Are you saying I can get my own authority using a Honda Civic and after 6 months use that time for a tractor? TIA
@@arseniobuentello7383 Yes, if you are running under someone else and just need to park your Authority for the 6 month, you can put the minimum required on just any car. Doesnt have to be a truck. Just to let it mature.
I believe it only make sense if you have two different trucks, and a driver for one or the other. For instance a lease purchase truck or one u own and run as a o/o for a company, and with you authority a totally different truck.
I was thinking the same, I own two trucks and one is currently without a driver so I am wondering if this would be posible
Why would it make more sense to lease the 2nd truck to a different company?
I am doin this currently. The benefit is that as long as I keep a driver.. I have that truck at the end of the lease, and my insurance will be a lot cheaper by the time I’m ready to add that truck onto my authority. And most importantly I make a little off the truck that’s being leased. Not a lot but something better than nothing
Chitown express only for expenses that won’t put you out of business
I'm debating on becoming an owner operator but to be honest I don't know where to get started... Like should I buy used or new and where is the best place to purchase my truck?
Ronald Goodwin this question has been asked and answered ad nauseam for years. You shouldn't have any issues searching Google and TH-cam for the answers.
Hello!! I'm starting my trucking company with my first truck. No authority, but the company I'm going to start working with takes 10% of the load and $ 300 weekly of insurance. ? the% charged by the companies includes cargo insurance. And thanks for the information you provided has been of great help
hmm. I'm curious about that deal. $300 a week would cover ALL insurance. They're only going tpo make 10% off you? nice. What company is this that hires like that?
What if you have 2 truck i have a day cab i wanna start my own authority with but im leased on with landstar my sleeper
What's the difference between lease on and carrier insurance?
In another one of his videos, he explains it but basically lease on covers the drivers truck. Carrier covers what the driver is hauling for the Carrier. Which is why many brokers require the Carrier to have 1Million+ (750k to meet requirements for FMCSA) in coverage for cargo.
You can get two insurance policies but from two different companies.
Until you have a claim and both insurance companies denies paying due to the legal term called misrepresentation. Attorneys would have a party with you.
How can I get a one on one consultation appointment with you??
David what people do is run under there authority and use other companies to get them work.
Chitown express can you explain? I’m in Chicago just getting started under my own authority
What if I get an DOT# & have it sit for 3-4 month as a Comp-Driver; will I be able to work with any Broker?
Yelp you can do that but you have to stay in compliance with your authority and make sure you file your ifta when due even if u don't run authority
@@PrimaryEmail-zf7xi you meant you have to have insurance for your mc to be active, not dot number. You got to have both to be active for interstate.
Can I have the list of the brokers that work with new authority? Where is it? I did not find it
I asked this question in another video but just found this video.
The company I’m leased under had me get 1million dollar policy liability so I’m assuming I’m not under their insurance and could let my authority age? What do you think, sound right?
Most companies your leased under they are responsible under your insurance: are you currrentlr running loads
What company may this be if you don't mind me asking?
Has anyone used David's services? I was thinking about using him to set up my authority. just need a referral.
Set it up yourself and save money. In order to be successful in this business you need to learn the ins and the outs. It’s not to hard at all and the application only takes about 15 minutes to fill out. Don’t get insurance until 19 calendar days have past so you’re not waiting money on insurance during your vetting period
How old are you bro
Your $750,000 is your filing for your MC number Operating authority.. you can not have an MC number of your own and lease onto another company. while leased on to the other company, coverage is provide only while under dispatch. A trucker with his own truck would need a BOB Tail or NTL policy to cover the public liability (while not under dispatch) and your Bob Tail or NTL will also provide physical damage coverage for your truck.
Having a BOB Tail or NTL... you can not have an MC number (filing) ... Owner operators are listed under the company they are leased on to with that companies MC number ... Can't have 2 MC numbers
so how do you get commercial insurance without having a MC number?
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What’s your business email?
So the answer is “you don’t know”. …
Why make a video at all?
Today somebody told me this is illegal
It's not Public Liability it is called (AL) Auto Liability.
FMCSA calls it Public Liability Insurance on their website.
applied for my own authority yesterday. Been watching your videos. Thanks, they are very helpful! And thanks for the list of brokers for newbies.
Who did you have do the paper work for your authority? I know i can apply on my own but the boc3 and op1 need to be filled by a third party. Any thoughts on who i should use? Also i already have my dot number just need to up grade it.