5 Things To Know About Trucking Insurance
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- Опубликовано: 10 ноя 2021
- Trucking insurance is an essential part of your trucking business. Here are the 5 things you MUST know when you decide to start your own trucking company.
My email: talkabouttrucking@gmail.com.
Dispatch Course: miranda-c-s-school.teachable....
I'm so grateful for this advice. I'm watching all of the videos in this playlist. Thank you!
As an Insurance Agent this is such great feedback. Thank You!
Thank you for the videos very informative I am currently looking at going into business myself and it's a lot to take in even though I have been driving for a long time can be overwhelming
Seems like another way to get a DOT # would be to buy someone’s trucking company….for example they are retiring (or just getting out of the biz) and you’re just buying the name and numbers and its already aged???
Very good
1:Ur golden
2:Thank you
3:God bless u
4:All the above
Thanks a new subscriber here.
Nice info
Awesome
Great information as always I am going to get my dot number asap thank you.
Hello awesome 👍
How about the 90 days to submit insurance on new DOT?
Hello Greetings, love your videos!!!
i would like to ask if you have any idea if a Lease operator with LLC, Non CDL, and less than 10,000 lbs commercial vehicle planing to get own authority and own insurance in 1-2 years, could get the USDOT# and let it age?
Hi Miranda!
I am a brand new subscriber and first and foremost: THANK YOU SO MUCH FOR ALL THE QUALITY INFO AND CONTENT!!
Second: I am a bit confused. So if I can apply and recieve a USDOT #, I don't have to get insurance for it at all, BUT the moment I apply for an MC# is when I would have to worry about the 90 day window to get insurance. DO I have that correct?
Correct, with a DOT number, you are not required to activate it. However, in order to operate just with your DOT number, your state will have insurance requirements
I wish I knew that.
The simple question is are new or renewing Authorities actual paying the huge insurance costs, say around $20,000.
Now, speaking to some of this stuff your touching on: Progressive doesn't seem to be insuring at this time. I applied 18 mos ago with an aged DOT from 2012 and of course an aged CDL, and hadn't driven since 2018. I got a good quote. I loved it, but I couldn't start then.
Now, I just tried to get a quote from Progressive again & they denied me.
I then had the broker check another insurance company. They wanted $21,000 a year with $5,800 down. And the monthly payment was $1,700 a mo for 9 mos.
My next question was if I go for this & after 3 mos I find I'm not going to make are they going to reimburse me. The short answer is no. They keep 25% of course your out the monthly payments you put out. That means I would be out $7,000 total.
Maybe you can do an update of the insurance subject.
As always, thanks for the vids.
New and upcoming carrier authority. I received a quote from Progressive via an agent well recommended by our home insurance provider. Curious as to why you didnt enroll with Progressive? Anything I should be weary of or ask?
Thanks for your videos
Hi. Your videos are far the best for the trucking business. I don’t say it lightly after watching hundreds of others.
My question is the following:
1- once I get my DOT, how long can it sit before I’m required to have insurance? I currently don’t have a truck because they are so expensive but I’m planning to get one in August. Can I have my DOT now then get my truck in August?
2- How about my MC number? Should I get it now or wait until I get my truck?
Thank you
Thank you for the compliment! You can absolutely get your DOT now and get a truck later. The good news is that a DOT number doesn't need to be "Activated" like an MC number, so you can wait with insurance until you get your truck and are ready to run. In terms of getting an MC number, you can get it now, and then you will have 1 year to reinstate it by getting insurance on file and BOC3 :)
@@TruckingMadeSuccessful Thank you for your response. If I get the DOT number now, although it’s not “activated”, is it still aging for insurance purposes down the road?
Could You answer a question, You mentioned getting a DOT number and let it sit. I thought that if you get a number and let it sit that it will cancel after some short time.... Is this right? I own a truck but only have 7 months experience so I am driving for someone else right now.... Can I apply for Number and let it sit????? what about after they cancel it...
Do you recommend to avoid physical damage?
Question: how can I get a dot number and let it age ? I thought it gets suspended after 90 days if I don’t get insurance?? Please explain 🙏🏻
Hi when you say get the DOT number to let it age once I do that would I go back and apply for MC number to complete my authority? Your vids are great!
Hi JZ! Soif you apply for your DOT number (inTRAstate authority), you can later apply for an MC number (inTERstate authority). Your DOT number will remain the same and you will also obtain an MC number :)
V nice mam😅😅😅
Hi , I am going through the process of getting my authority and now have got my dot number and mc number and my boc-3 , I already have my insurance in place but I am trying to figure out if I need to file this ins somewhere ? Now that I have my insurance, do I need to enter the policy info anywhere to file it ? Please help me . Thank you .
Hello Dear Miranda!
Love your videos!
I recommended your channel to my friends!
Could you please recommend some insurance companies who bases in California and work with new DOT and MC numbers and with new CDL drivers. It's pretty hard to get insured when you based in California...
The another question is: If I will rent a truck in another state and get insurance there, in another state - will such insurance work for FMCSA?
Thank you in advance!
Hi Artem! I believe Prime insurance will work with new DOT and new CDL! Try them out. In terms of insurance out of state, it should work as long as your home base state is also covered! :)
@@TruckingMadeSuccessful Thank you so much!
Have a wonderful weekend!
How do you get DOT with out MC
A bit confused on letting the DOT # "age"..in a previous video you said (also according to FMCSA) that you only have 3 months to get insurance on file. So is that 3 months the ageing you're speaking of or am I missing something? Thanks
U will have to fill out only dot number, and after a year apply separate for your Mc number
What are the responsibilities that comes with getting a DOT number? For example do u have to get insurance for it even if I am just let it sit
Once you get your DOT number, you can let it just sit. If you get an MC number, you need to activate it by getting insurance on file, and BOC3. You have up to 1 year to do this.
We have a dot number but want to retire. Can this be handed down to our child?
Hey I was told that in order to get the dot number you most have a truck already..
Hi Elonzo. Nope, you don't need a truck in order to get a DOT number. DOT numbers are issued to brokers as well who have no trucks (only loads) :) As a carrier, you should know how many trucks you will have in your fleet in the beginning when registering though. Usually its just one
Hi Miranda... I have a partial question about getting a DOT #... You answered part of my question for a gentleman on getting a DOT# and not using it right away... So the other half is can I still apply for a DOT# while I'm still leased to a carrier? We're looking to get our own authority here in a short bit and I was told by a lady from OOIDA that I could not have a DOT# and be leased on to a carrier at the same time... I'm not looking for the MC+DOT# yet because we have to start from the beginning with forming a business entity LLC here in Maryland... So can I just get a DOT# so I can have it so I can open a subscription to some boards at least so I can see whats going on? Or was the OOIDA lady correct?
I'm writing an update to my question. I just finished a chat session with Jessica from the FMCSA website... You cannot apply for just a DOT# as an individual. You must create a business entity first... And then once you apply, it's partnered with the MC# which comes 20-25 days later.. So you need a business created that needs the DOT# to apply for it... The DOT# becomes active and once the MC# is assigned, you have 90 days.
Hi Anthony, Jessica was incorrect. You CAN apply for a DOT number as a Sole Proprietor and use your SSN instead of an EIN. A sole proprietorship does not require any official formation :)
You can not apply for a dot number as for hire carrier without paying the 300$ fee , and you only have 90 days to set up your insurance so your mc get activated
If you don’t get insurance the fmcsa don’t activate your mc and you only have 90 days otherwise you lose your money , so
That means that it’s not good idea to apply for a dot as for hire carrier 😢
If I get a million dollar liability what does that mean? How much will I personally have to pay out my pocket?
Get dot number only and let it age or both dot and mc ? And will you have to pay every year to keep it going even tho you don’t plan on starting anytime soon ? Pls answer both if you could
Get a DOT and let it age. If you get an MC you will need to "activate it" and get BOC3 and insurance that you have to pay for month by month. An aged DOT will simply help you get more insurance quotes from more insurance providers.
What about a 90 days rule for having an insurance after obtaining your authority?
Yes you have to have insurance and BOC-3 on file within 90 days to become active or your application is dismissed.
@@TruckingMadeSuccessful cruel people, aren’t they?
@@JimCassavant I would use the word uptight 😂
@@TruckingMadeSuccessful it seems that you know about them something I don’t. ;)
Can the expansion be changed down the road?
Usually you would. have to renew the insurance every year. At that point you can always choose insurance that allows for expansion. But I would double check about with your insurance provider whether you can expand on your current policy as they judge on a case by case basis most of the time!
Can I go ahead and apply for my authority and not have it fully active until I’m ready , and when I’m ready go ahead and upload my insurance to have my authority active ?
When applying for the MC you have approximately 90 days to get your insurance and BOC-3 on file. If you do not get it on file during that time you will be dismissed. Once dismissed, you have exactly one year from the dismissal date to get everything on file and file an undismissal (free). If after 1 year you still dont have the insurance and BOC 3 on file you will be permanently dismissed and will have to reapply ($300) BUT you will still keep the same DOT and MC numbers! Hope this helps!
@@TruckingMadeSuccessfulso i did it wrong i thought because its been three years that i had to start over so i got new numbers.. what happens now that ive gotten new numbers planning on getting insurance in a few weeks.. already have boc 3 a week ago in the new numbers
What’s the best insurance company to go with as a first time starter ?
It depends which state you are in. The best thing you can do is shop around and compare quotes :)
Hi, what insurance company do you recommend for new dot?
Depending on your state, Progressive can be a great lower cost option. Also I know that Prime works with new authorities and new drivers (at least the last time I checked!)
@@TruckingMadeSuccessful I'm in California
@@danyolsun4120 Prime! :)
@@TruckingMadeSuccessful thank you
Will the DOT # age without getting a MC #?
Yes!
@@TruckingMadeSuccessful thanks so i can hold off on insurance until I apply for the MC # or I have 90 days in this situation as well?
You do not need to "activate" a DOT number like you do an MC. So yess, as long as you are not running just under your DOT and are simply letting it age, you won't need insurance until you get your MC
@@TruckingMadeSuccessful thank you
Hey, I sent you an email are you still responding to people?
Its not that easy just type insurance name into am best site :) 2:28
You would have to create an account first but its not difficult ☺️
@@TruckingMadeSuccessful thanks for sharing 🙂👍
You too cute to be talking about this 😢
Very good
Nice info
Very good