If you are planning on starting or getting into the trucking business, good for you and thank you! The shortage of truck drivers is apparent and most truckers who we know and insure love the freedom of the open road – it can be a lifetime career choice.
Step 1: Determine your business classification and name.
Before you get started on a quote, you will need to decide on what type of business classification you will be. This means that you decide whether your business is listed as an LLC, Partnership, Sole Proprietor, or Corporation. Only you can decide which business type is right for you. This classification will need to be listed on your insurance policy. Also, you will want to determine what the name of your business will be and if that name is available.
Step 2: Get your trucking authority.
The next part of getting established is to get your authority. An authority is in short, the permission granted to you by the government to get paid to move freight. An important step! There are many companies that specialize in helping you getting your authority setup. Be sure to apply for this early as the entire process can take up to 7 weeks.
Step 3: Register with the FMCSA & get a USDOT number.
Next, get registered with the Federal Motor Carrier Safety Administration. If you plan to operate a commercial vehicle that transports passengers or haul cargo across the interstate, then you must register with FMCSA as well as obtain a USDOT number.
Step 4: Get Insured
While some insurance carriers are reluctant to insure a new venture, we have several carriers who will take the risk. Really it comes down to your lack of experience driving trucks so the more experience you get, the more options will be available to you. We have many companies who we can provide you a quote in one business day, so let us help you get started.
Our agents can help you choose what coverage options you will need. Some options include:
- Cargo insurance – May provide coverage when you’re responsible for your cargo being lost or damaged due to fire, collision or the cargo being struck or run over by your own truck.
- Truck General Liability – If you’re a for-hire trucker, you’ll likely need to carry a Truckers GL
- Non-Trucking Liability – covers your liability when using your vehicle for non-trucking related events like going to the grocery store.
- Trailer Interchange – physical damage coverage for the trailers you’re pulling under a trailer interchange agreement.
- Physical Damage – Collision and comprehensive coverage for your truck if it is damaged in an accident, catches fire or is stolen or vandalized.
Many other coverage options exist and no two people need the exact same coverages so speak with your agent about the coverage options that are right for your business. As a truck insurance specialist, our agency can help you get established and on the road to your new trucking career. We look forward to helping you.