We have been leased to a company for hot shot trucking but have thought about going out on our own and getting our own loads. About how much is the startup cost for this? What amounts are we looking at for getting truck rights and such plus how much does insurance (truck and freight) usually run? Sorry for all the questions but this is all new ground to us and we definitely are not making any money leased on so would like to go a different avenue.
O/O questions.
- Thread starter Runinlate
- Start date
raceman
Veteran Expediter
Contact someone that deals with DOT authority. I have talked to a fellow at TIA insurance a number of times about this. They can help you get everything done. The cost of getting your own authority is very little but the carring your own insurance is way way way expensive. When I last looked into this I was looking at 12,000 a year. You can type in DOT Authority in Yahoo search and find a list of folks you can talk this with.
You can also contact the DOT and they are very helpful. Good Luck
Raceman
OTR O/O
You can also contact the DOT and they are very helpful. Good Luck
Raceman
OTR O/O
To check for hotshot loads go to www.freight-terminal.com . It's a free board . Click the new guestbook for latest loads . Join the OOIDA (ooida.com ) if you haven't already . They can answer all your questions about authority but it takes about 4 weeks to get full approval from the DOT . Getting the DOT number is simple . The MC number is what's complicated . You'll need required insurance ( figure about $8,000 a year ) and a BOC 3 . That is a list of agents in each state you run in . This service is provided for no charge to OOIDA members . I believe they charge about $900 to obtain the DOT and MC numbers . You'll also have to be in a drug test pool . OOIDA can also set you up with this service for about $100 per year per driver . You'll also need single state registration for every stated you run in . OOIDA will also do this for you . DO NOT form an LLC . Most states will not recognize it and will expect you to pay a fee to register as a foreign LLC. To compare rates for these services pick up the free magazines at truckstops and check the ads in them .