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You do not want to purchase cheap truck insurance. Why? Because paying less for insurance does not necessarily mean you will actually save money.
Look, we understand that controlling costs is always crucial as you operate your commercial trucking operation. Controlling costs has to be one of your top concerns. And while shopping for the least expensive truck insurance policies in the market sounds like a good idea at first, but you should keep in mind: the cheapest insurance usually does not have the greatest value. After all, how could it?
And if you get sub-standard coverage from cheap commercial trucking insurance might result in getting a semi-truck insurance policy that doesn’t cover you when you have an accident. The cheapest insurance often means you cannot expect the broadest protection.
Every trucker knows these two things about commercial trucking insurance: 1) insurance is necessary and 2) insurance is expensive. Beyond that what else do you know? The reply of most truckers to that question is: “Not much”. But your knowledge of trucking insurance and the optimal process for buying it can make a huge impact on your bottom line. It can truly mean the difference between success and failure of your trucking enterprise.
Obtaining Your Own Authority
- Be prepared. You are going to need good credit, financing, and a plan. While hundreds of new authorities are filed every week, hundreds more go out of business each week as well. Planning ahead is a key step in the success of your business.
Talk to an agent who specializes in trucking insurance, and understand what it is that you need. They can advise you on which insurance market would be the best fit for your operation, and give you options on coverage and deductibles. (Get a fast quote now)
- File all necessary documents with the correct authorities, including:
MC number- issued by the Federal Motor Carrier Safety Administration
DOT number- issued by the U.S. Department of Transportation
BOC-3- Federal filing designating process agents who can accept legal documents on your behalf
UCRA- Unified Carrier Registration Agreement
IFTA- International Fuel Tax Agreement, concerned with tracking your mileage per state
Obtaining your own authority can be a complicated process. Let the professionals help simplify it for you. At a minimum it’s important for your business to utilize the help of an attorney, an accountant, and an insurance agent who are all familiar with trucking. These trained professionals can help you avoid the pitfalls of a new business venture, and help you to protect and grow your business.
Get a great rate on own authority insurance, complete online quote form above and we will get you a cost.