Trucker Insurance Costs | Lease-On vs. Own Authority | Semi Trucking | Hotshot Trucking
HTML-код
- Опубликовано: 9 сен 2019
- Want to work with David?
Book a Private, One-on-One Consultation:
davidmcgill.as.me
Get Your Free Trucking Business Toolkit:
rb.gy/voclya
RECOMMENDED SERVICES:
📌 DAT [Load Board]
Find more loads. Get your first 30 days FREE here:
DAT TruckersEdge: rb.gy/9lbl7o
DAT Power with advanced features: rb.gy/p83ypl
📌 Motive formerly KeepTruckin [ELD]
Get the best deal when you sign up here:
partners.gomotive.com/p1y9mao...
📌 RTS Financial [Factoring + Fuel Card]
Same day funding, 97% advance rate, and fuel discounts:
rb.gy/3qulgx
📌 ITI, Inc. [Safety + Compliance]
Nationwide drug program, driver qualification files & more.
Contact Norb.Fehrman@itihq.com or (317) 999-6945.
For best pricing, tell him David McGill sent you.
itihq.com
By using some of the affiliate links above, I may receive a small commission, at no additional cost to you. This helps me continue making content like this for you. Thank you.
ABOUT ME:
What’s up y’all? I’m David McGill, a 2007 graduate of Indiana University’s Kelley School of Business, an experienced accountant, trucking business owner, and consultant. I created Trucking From Scratch®️ to help other entrepreneurs start, run, and grow successful trucking businesses by breaking down the business side of trucking.
My NEW channel / @1davidmcgill
📸 Instagram: / 1davidmcgill
🔗 LinkedIn: / 1davidmcgill
🖥️ Website - truckingfromscratch.com
📸 Instagram - / truckingfromscratch
DISCLAIMER:
The information provided in this video should not be construed or relied on as legal, tax, investment, or business advice for any specific fact or circumstance. It's content was prepared by McGill Accounting LLC, with its principal office located at 1075 Broad Ripple Ave., PMB 390, Indianapolis, IN 46220. This video is designed for entertainment and informational purposes only. Viewing this video does not create an accountant-client relationship with McGill Accounting LLC. You should not act or rely on any of the information contained herein without seeking professional legal advice.
Trucking From Scratch®️ is a registered trademark.
©️Trucking From Scratch. All Rights Reserved (in other words, don’t steal my stuff).
#TruckingFromScratch #CloudTrucks #Sponsored #davidmcgill #truckingbusiness 
Развлечения
👕 Get your Mind Your Trucking Business T-Shirt: truckingfromscratch.myshopify.com
An amazing presentation with knowledgeable and wise demeanor, also calm communication. I think this young man is brilliant!!!! BRAVO
I appreciate the feedback
I would have 2 AGREE
David McGill guyot lllllllllllllurlj
Factual !
He is definitely a great example for some of the young guys on here that act like Clowns! Very mature and knowledgeable. I’m calling you young because I’m 73. Just about everyone is young to me.🥲
In all actuality you’re still paying for your own insurance the 10-20% lease on percentage is being taken out from each settlement so every week your giving away 1200-1800 depends on what your truck grossed
Yes it’s unfortunate that he didn’t mention that
He is 100% right but luckily I got a good price for full-coverage insurance policy for $1360/ month for 1m and 100K cargo. I just started this business with my own authority. Hopefully, it will be beneficial.
What insurance company did you go with?
What company did you go with?
Appreciate the professional presentations that you bring to us on a regular.👌💪
I’m planning on starting my own trucking company. Thank you for the information , I most definitely will keep watching your videos
Waw thanks man you're a wealth of knowledge I work for a small crooked company that the boss been trying to get me to but into a owner operator but says I need to pay $2k a month for insurance and no fuel surcharge and a flatbed trailer 1200 a month when online I see 700 a month and the sad part is he has 5 guys struggling and paying all that I need to let this people know I hate to snitch but knowing and not saying anything is making me feel complicit and I don't feel good morally to not say anything
Very helpful and insightful.
Appreciate the help you provide here !
Thank you David. This was very helpful
Good job. Very simple and comprehensive.
Great breakdown. Really appreciate it.
Excellent presentation bud! So informative, im sharing this video and subscribed
Thank so much for all of your videos!!! Very informative and detailed 💯🔥
Thank you for your insight, David!
Thanks this is the answer I was looking for...
brilliant explanation, keep trucking
Thanks for posting. Very informative!
Thanks for all that info, i really appreciated, God bless you., from glennville GA!!
Thanks for sharing your experience and knowledge. Much appreciated. God Bless You.
Thanks you so much for the info I will be definitely passing it on to my husband 🙏🏾💯
As always bruh… your videos are trump tight! Thanks bruh!
Great job on the video👍🏻
thank you david awesome as usual !!!!!!!!!!!!!!!
Absolutely correct! 👍
And another reason to protect your CSA score.
Thanks for clearing this us up for me.
Thanks for your educating us I learned alot bro
Very helpful and important information.
Good information, keep it coming. God bless!!!
Yea but the company is also making a "percentage" off of the loads that owner operator is carrying, which is anywhere from 25% -30% plus the 500 a month for the insurance that the company is supposed to pay in the 1st place...but instead they threw that cost at the O/O. But I digress. FYI a load paying $1000 the company is getting $250. The driver more than pays for the cargo liability insurance easily.
Great video thank you for the information
Very helpful. Thanks man!
WoW!! this information is very helpful
My respect brother
Great videos bro!
son how about some info on recommended insurance companies,both interstate vs intrastate. also what do insurance companies look at when they insure you? prob experience, past record etc? keep the videos coming son i enjoy watching
Always good information
Smart young man💪🏾💪🏾
Thank you
Great content bro
Great video!
first let me say how impressed I am with all of your informational videos you're doing a great service and it's much appreciated my question is How much will a policy increase with each truck you add
Thank you!
Great video ☺️
Thanks bro
Good video man
Thank You!
TRUCKING BUSINESS MODEL BLUEPRINT:
Learn the 8 ways to start a trucking business and see which way best fits you as an owner.
bit.ly/2TstPfZ
They MUST insure by the mile! NEVER by the month, since that makes drivers pay to sleep, which will force them to crash!
Hey, how can I contact you directly. I'm really looking to start a trucking business, I just want to learn before I start. My name is Priscilla.
Great information, thanks
could you please make an update video for 2023? thanks in advance, and also you are one of the best, if not the best at explaining trucking related information, right to the point, with no B.S, good sport.😊
Nice video man 200th comment for ya boy
Great video
Nice, thank you for video
brilliant
Appreciate the info
Hey Brother thank Yo very much man
Thanks for watching
Been following for a while .... start my company soon...
McGill I congratulate you, you have made brave videos with excellent real content. Which state and if we come to that side to help me search and find a sponsor company for chauffeuring.
1) Is it better to start the startup business paperwork before you get the truck or first get the truck? 2) How easy is it to get financing for a 3 or 4 axle dump truck?
Helpful
Hey David two questions
1. Would this be per truck?
2. What other difference are there from owner authority and lease authority or is that the only one ?
Very helpful I’m getting my own trucking authority 2k a month isn’t a lot if your making 20K a month to
*TRUCKING FROM SCRATCH*
Check out my tools + resources designed to help your business succeed:
truckingfromscratch.teachable.com
@@carrasco4712 I would look for another company. They are clearly ripping you off.
No thank you. There is plenty of help offered out there than to pay you for your advice.
@@carrasco4712 I'm bringing home after deductions and fuel $3200+ a week. If I can do this anyone can. If everyone else is NOT doing this than the company they are leased onto is eating into your pay too much with whatever bs fee they are saying you have to pay (insurance, percentage, ECT)
@@carrasco4712 you as well.
David thank you for the great tips!
What do you think of $1470. A month for 1million general liability, 1million Auto, and 100k for cargo.
Two drivers? Good or bad? Progressive
Also what you didn't mention is the 25% that is taken by the company your leased to. If you gross $5k per week that company is deducting $1,250 right of the top. How hard is it to make that insurance payment? It takes you just over a week to pay it when you add the other $500 to it.
With your own authority,will you have to pay additional insurance for every truck that you add to your fleet?
If you leased a truck would you pay for each additional truck? And are there any advantages to leasing?
I appreciate the time you took to break this down. My questions is what if you're running box truck O/O? Are those numbers still the same or lower because its a box truck. Thanks
I’m not sure about the box truck insurance costs. You will want to get with an insurance agent on that.
Just got a consultation from him amazing information and really answered questions that help me save a lot of money wish he still the mentorship’s still going great dude didn’t rush me off of the phone and gave me great information thanks again will be rebooking a consult soon
PRICELEZZ KNOWLEDGE
Bro you should have your own trucking school
Does the physical damage cover damages incurred to the bobtail?
What type of insurance coverage is needed if I get a truck from Lone Mountain and Plan to pull power only loads off the DAT load board?
How do you insure the drivers of your truck? I’m going to be in a similar situation as you and will be an owner vice driver
I broker insurance rates for Berkshire and Progressive to name a few. I’m curious to know which insurance companies you’ve found to be the best? I rarely get beat in price in Arizona.
What up David, I’m in the process of starting my own trucking business. I would love to have you in my corner coaching me on the do’s & don’ts
Who are you insured with and how much do you pay? Do you do Amazon loads?
How much os generally needed down on a policy like that? Thanks!
Does it matter how big the company is you tru to lease onto ? or how long it’s been in business ?
What is your recommended insurance agent for California?
Is trailer insurance (physical damage to the trailer) covered under cargo insurance?
i lease as an owner operator and i still pay cargo and liability i think thats normal i know so many people that does too
What insurance is the best insurance for owner operators?
I watched your video and my question is do you have some information on some of the insurance that actually cover box trucks and if you do can you send that information to me.
good stuff my man... great job... now you have me thinking... will I save money leasing my self and truck or not with my own authority... after what I've seen so far... seems like own authority will end up making 5x more a month than a leased out LLC...
You will pay more for insurance most likely if you start your own authority. Insurance drops as you are in business longer so that's the benefit of leasing on to someone else's authority. Their company is aged and the insurance rate will be lower already.
Listen if you paying 2 a month for 1 truck with the exact coverage he placed on the white board find you another insurance agency
Bey bud you got the wrong... insurance i find this very uncetain. Unless diferent state . In az it will cost you no more then 1200 bucks a month for everything he mentioned on the video. It can be discouraged for some one whos struggleling to start up with a limited buget just saying.
Does age matter im 25 about to take over my family trucking business but have to drive for 3 years before i take over so i truely know every aspect but i was calculating me at 500$ a week for insurance because im young and new but have my own authority ect owner operator status
If I’m a owner op and I’m only doing power only , drop n hook . Do I need cargo ins?
My authority going active week do I need to get cargo insurance? To run my first load
How much is due up front when buying insurance for new authority?
Which insurance company is a good insurance company for a start up
Are these costs for each individual truck or will this cost cover multiple trucks?
How can I get commercial insurance, an MC number and DOT number with a truck rental from Penske or Ryder?
So what about a 2500 pro master should they go with a 100,000 or million dollar policy and why
Add trailer insurance too
Hey David just want to know I filed for my own authority in March but didn’t get my insurance until this month will this be a problem I’ve been sick can u help me
Hey my man i love the Info you put out here! Wondering how could I get a consultation with you?
Thanks for the feedback. The link to my book a consultation is davidmcgill.as.me
Question is there a big difference buying new truck vs old in terms of finding someone to lease it from you
Just bought my first used truck. I would like 2 pick your brain about getting started
Mr Miguel you didn't talk of the %ge most carriers deduct on the gross because of me the o/o leasing my truck to their authority. If say they take 1500, a week that is $6,000.00 a month
i ask. i work for my brother. he said if i get my own truck n authority hauling refer loads it be about $1200 a month. but hoping it’s cheaper if i drive under his company name. ?
Hey quick question do I need to add trailer insurance when operating own MC???
What insurance allows you to have multiple trucks before the 2 year mark
Can you lease on without driving the truck?