Was thinking of getting back into trucking! I'm really interested in a cargo van with my own dot number and insurance. Then that ways I can bid on loads off u ship and maybe find a small carrier that can find me local runs here there! I've done the over the road cargo van 2 different times both with panther! And I know the only way to profit with them is be out for extended periods of time. But I can't do that any more with the kids! So I'm looking at this route. Any help on cost of dot number and the min insurance costs would be great!
Dot number cost and insurance questions
- Thread starter Localrunz
- Start date
As stated above dot number is free.but to get on with most 3pl you will need a MC number that's $300.Insurance will vary greatly depending on value of unit and your driving record also credit rating and types of insurance you purchase. you will need 100k cargo and 1 million liability on file. that will most likely cost in the neighborhood of 3k per year plus if you add comp and collision to protect your unit. you can get a quote from progressive online. or call cis a lot of people on this site swear by them
Crich pretty much covered it.. I run through Erie for insurance they're a no frills policy but reasonable on the price. Vehicle 1 mill liability business liability 1 mill liability and 100K freight insurance $3,000.00 yr.
If you have a clean MVR and insurance loss report is good they will likely write you.
A safe estimate MC#, insurance down payment, DBA filings other misc expenses when its all said and done about a grand. As a piece of advice, I will tell you to sit down and figure out a rate to operate and don't allow yourself to get low-balled.
REMEMBER, It doesn't matter if you have your van paid for free and clear it will eventually wear out, you will be spending 30+ grand for a new one.
Here is an example of how to set up your rates. 350 mile round trip. leave and return home cost of van $35K purchase, typical 5 year100,000 mile life expectancy. 50K year
Van cost $.35 mile
Maintenance $.15 mile
Insurance MINIMUM $.10 mile
Fuel 10 MPG $3.00 gal $.30 mile
YOUR SALARY VAN $.60 mile remember you have to pay yourself, both ways.
Minimum to charge? $1.50 driven mile $.90 deadhead home.
For regulars that have a minimum of 2 jobs a week total 350 mile minimum, I charge $2.00 per LOADED mile.
Hope this helps good luck.
Bob Wolf.
If you have a clean MVR and insurance loss report is good they will likely write you.
A safe estimate MC#, insurance down payment, DBA filings other misc expenses when its all said and done about a grand. As a piece of advice, I will tell you to sit down and figure out a rate to operate and don't allow yourself to get low-balled.
REMEMBER, It doesn't matter if you have your van paid for free and clear it will eventually wear out, you will be spending 30+ grand for a new one.
Here is an example of how to set up your rates. 350 mile round trip. leave and return home cost of van $35K purchase, typical 5 year100,000 mile life expectancy. 50K year
Van cost $.35 mile
Maintenance $.15 mile
Insurance MINIMUM $.10 mile
Fuel 10 MPG $3.00 gal $.30 mile
YOUR SALARY VAN $.60 mile remember you have to pay yourself, both ways.
Minimum to charge? $1.50 driven mile $.90 deadhead home.
For regulars that have a minimum of 2 jobs a week total 350 mile minimum, I charge $2.00 per LOADED mile.
Hope this helps good luck.
Bob Wolf.
Thanks for the answers! Now I'm thinking strictly trying u ship only loads to make xtra money. Who would you suggest on insurance I need cargo insurance max 25000 because I don't plan on hauling nothing over this limit in my van. I got on the website to try and get a dot number and I guess I'm doing something wrong bcause it want let me use my van as a truck. I was also thinking of just renting a van, when I win a bid ,makes more sense to me to never have to worry about maintenance.
Well things change but I didn't think they gave dot numbers to less than 10k vehicles.your not subject to dot regs.but try to get work without one.uship never had any luck there of Maken any real money.now if pull a trailer with that van that would put you over the 10k weight limit and subject you to dot regs.