If you are starting a new trucking company or any transportation operation one of the biggest challenges is finding auto liability insurance for your new company. We have New Venture Truck Insurance and business auto coverage.
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Our office is licensed in and writes new authority and new venture truck insurance, Cargo Coverage, General Liability and Workers Compensation and other commercial insurance for new business startups to help you get out on the road making a living. Our easy quotes request form is below.
Have you filed for your authority with the FMCSA? See insurance requirements below.
Starting a New Venture Trucking for Hire Company
Do you have a dream of launching your own trucking for hire business? It’s not an easy task, and it’s important to understand the process for successfully starting a new venture trucking for hire company operating either in one state or nationally. With the help of expertly trained New Venture Insurance Specialists, you can save money on your insurance to satisfy the Department of Transportation (DOT) and Federal Motor Carrier Safety Administration (FMCSA).
Launching a new trucking business requires careful planning and research. You must be prepared to follow the necessary steps to get your business up and running. To begin, you’ll need to choose a business structure and register your business with state and federal agencies. Then, you’ll need to obtain all necessary permits and licenses, including a Motor Carrier Operating Authority and a USDOT Number.
Once these steps are complete, you’ll need to purchase insurance for your trucking business. This is where New Venture Insurance Specialists can help. They are experts in the trucking industry and can help you find the best coverage to meet your needs at the lowest possible price.
New Venture Insurance Specialists understand the unique needs of truckers and can help you select the right policies to meet both DOT and FMCSA requirements. They know how to compare rates from different carriers and can provide you with valuable advice on selecting the best coverage for your business.
When selecting insurance coverage, it’s important to know what the DOT and FMCSA require. Generally speaking, truckers must have at least $750,000 in liability insurance coverage, including Bodily Injury and Property Damage coverage. In addition, you must have Uninsured Motorist coverage, as well as coverage for Physical Damage to your truck.
New Venture Insurance Specialists can help you navigate the insurance process and ensure that you are getting the best coverage for your business at the lowest possible price. They can also provide you with valuable advice on how to possibly save money on your premiums. For example, if you operate a larger fleet of vehicles, you may be able to negotiate discounts on your policies. New Venture Insurance Specialists can also advise you on how to reduce risks, such as implementing safety measures that may lower your premiums.
In addition to helping you secure the right coverage, New Venture Insurance Specialists can also provide you with resources to help manage and maintain your single truck or fleet. They can provide you with information on how to track vehicle maintenance records and alert you when it’s time for routine inspections or repairs. They can also connect you with reputable service providers who can provide preventative maintenance services and repairs.
New Venture Insurance Specialists understand that starting a new trucking business is a big undertaking. That’s why they are committed to helping truckers get the best coverage at the lowest possible price. They understand the unique needs of truckers and can provide valuable advice and assistance throughout the process of launching a new venture trucking for hire company.
If you are just starting out we should be able to help you get a few new venture trucking quotes and find primary auto liability, physical damage coverage, motor truck cargo, bobtail-non trucking liability and/or several other coverage’s important like Workers Comp to hazmat trucking for companies small or large. Our insurance companies will do all of your required state or federal filings.
New Venture Truck Insurance help request submitted right now. Our brokers just need a little bit of information to help you at this point.
For quick quotes use the quick contact form below for our New Venture Truck Insurance company quotes or call us at (833) 220-1321. Same day quote and policy binding available in most cases.
Do you have all of your information handy? If yes then please proceed to our full quote truck insurance form that will speed the process dramatically.
Best insurance for new authority and Commercial Auto Insurance quotes for small risks to large national fleets are currently available by using the contact form above. We offer new authority truck insurance for semi’s, route delivery trucks, box trucks, straight trucks, auto haulers and almost any type of contractor vehicles. New Venture Truck Insurance quotes and coverage available for new cdl drivers right here for new venture Semi’s, new authority and new owner operators. Get expert help finding the best commercial truck insurance company for CDL new drivers.
Truck insurance for new CDL drivers is easier to obtain when you are prepared with documents and information needed to quote (Driver information, Vehicle information, radius of operation, Items hauled, etc.) If you are an established company with more than 3 years experience we recommend that you visit Big Rig Insurance Brokers
Guide to the Benefits of Starting a New Venture or Start-up Trucking for Hire Business
Are you considering starting a trucking for hire business? Congratulations on your decision to take the plunge! The trucking industry is a multi-billion dollar industry that is constantly growing, and the opportunities it provides are virtually limitless. Owning your own transportation company can be a rewarding and profitable venture, and can even be a great way to earn a living.
Starting your own trucking for hire business involves more than just getting a truck and hitting the road. There is a lot of planning, research, and preparation that must be done in order to ensure the success of your business. In this guide, we’ll discuss the benefits of starting a new venture or start-up trucking for hire business and the limitless possibilities available from owning your own transportation company. We’ll also discuss the importance of properly insuring your business with our in-house New Venture Insurance Specialists.
Benefits of Starting a New Venture or Start-up Trucking for Hire Business
Starting a trucking for hire business offers numerous benefits to entrepreneurs. Here are just a few of the advantages of starting your own business in the trucking industry:
1. Low Start-up Costs
One of the biggest advantages of starting a trucking for hire business is that the start-up costs are relatively low compared to other types of businesses. All you need to get started is a truck, a valid driver’s license, and the necessary permits to operate in your state. Depending on the size and type of truck you choose to purchase, the start-up costs can range from a few thousand dollars to hundreds of thousands.
2. Flexible Schedule
The trucking industry provides the freedom and flexibility to create your own schedule. You can decide when you want to work, how much you want to work, and where you want to work. This is perfect for entrepreneurs who want to have control over their work hours and lifestyle.
3. Lucrative Industry
The trucking industry is a highly lucrative industry. According to the American Trucking Associations, the trucking industry generates over $700 billion in revenue per year. With the right business model and strategy, you can tap into this lucrative market and generate a substantial income.
4. Potential for Growth
Starting a trucking for hire business allows you to grow your business as you see fit. As you become more successful, you can add more trucks to your fleet and expand your customer base. This allows you to increase your profits and grow your business to its full potential.
Importance of Proper Insurance
One of the most important aspects of starting a trucking for hire business is making sure that you are properly insured. This is critical to protect your business from any potential liability or legal issues that may arise. Our in-house New Venture Insurance Specialists can help you get the coverage you need to keep your business safe.
At New Venture Insurance Specialists, we specialize in providing insurance coverage for start-up trucking for hire businesses. We offer a variety of policies, including liability, cargo, and equipment insurance and roadside assistance to make sure that your business is fully covered. In addition, our specialists can help you customize your policy to ensure that it meets your specific needs.
Starting a trucking for hire business is a great way to earn a living and to take advantage of the lucrative opportunities that the trucking industry provides. However, it is important to properly plan, research, and prepare your business before you hit the road. Additionally, it is essential to make sure that your business is properly insured with an in-house New Venture Insurance Specialists policy. With the right preparation and the right protection, you can make your business a success and enjoy the many benefits that come with owning and operating your own transportation company.
How Do I Check My Application Status?
To check whether your operating authority has been issued(granted),
- Go to the SAFER website
- See bold heading “FMCSA Searches”
- Click on “Licensing & Insurance”
- Enter MC Number or USDOT Number in the appropriate box and click “search”
- Click “HTML”
- Scroll to bottom and click on “Authority History.” This page will display the granted date of the operating authority
In addition to the mandated primary auto liability coverage required by federal and or state law, you can choose from the following truckers insurance policy options when building your policy:
•Physical damage insurance: This insurance is usually required by the lenders when you finance the purchase of your truck or rig. It typically lasts for the duration of your loan and provides coverage if your truck is damaged in a collision, regardless of fault. Comprehensive insurance will also include coverage for damage and loss caused by natural disasters, fire, theft and vandalism.
•Medical payments insurance: This insurance provides coverage for any medical costs that you or other drivers/passengers may incur from an accident in your rig. Insurance companies will often require you to provide them with a list of all drivers who will be operating the vehicle and may base rates on the driving records of those listed.
•Equipment coverage: This insurance can be purchased as an addition to your physical damage policy. It provides coverage for loss or damage to driver-owned property kept in the truck, as well as equipment such as chains, tarps and added electronic and navigational devices. Some policies will even provide compensation for losses caused by fuel spills.
•Motor truck cargo insurance: This insurance covers the cargo you are hauling if it is lost or damaged while you are transporting it.
•Bobtail insurance: This insurance provides coverage for your commercial tractor when there is no trailer is in tow. This coverage is effective whether the vehicle is being driven for commercial or personal use. Though similar, bobtail insurance is different from non-trucking liability insurance.
•Non trucking liability insurance: This type of usually Semi trucker insurance is designed specifically for independent owner-operators. When you are leasing out your services to another company, they generally provide your liability coverage; however this coverage is only valid when your truck is being driven for business purposes. Non trucking liability insurance covers you while you are not working on the job, such as while you are driving to and from the job site or if you use your vehicle for personal reasons.
•Occupational accident insurance: This coverage acts as a supplement to workers compensation. It provides your drivers and their families with added protection if a driver is hurt while on the job. It provides benefits for accidental death and dismemberment, medical expenses for accident-related injuries, and both temporary and long-term disability coverage. You also have the option to purchase additional coverage that will include compensation for non-work related accidents.
•Workers Compensation for existing or new trucking companies. Workers Comp covers your employees in case of a workplace injury sustained while working for you.
•Non-owned trailer coverage and Semi Trailer Interchange: This insurance provides compensation for damages to a third-party-owned trailer that you have hitched to your rig. This coverage is for the structure of the trailer only and does not include the contents. Additionally, it will only cover damages that are incurred while the trailer is hitched to your truck.
Choose your business tax structure. It is an important decision.
Sole Proprietorship-Most Popular
A sole proprietorship is the most basic type of business to establish. You alone own the company and are responsible for its assets and liabilities.
Limited Liability Company-Probably the best choice
An LLC is designed to provide the limited liability features of a corporation and the tax efficiencies and operational flexibility of a partnership.
Corporation
A corporation is more complex and generally suggested for larger, established companies with multiple employees.
S Corporation
An S corporation is similar to a C corporation but you are taxed only on the personal level.
Issuance of Active USDOT Number Notice
Applicants may not engage in operations without registration and an active USDOT Number. A USDOT Number becomes active only after registration has been granted by the FMCSA. Registration will not be granted without financial responsibility and process agent filings, when required.
Requirements https://www.fmcsa.dot.gov/registration/insurance-requirements
| Form | Description | Authorities Subject to Filing |
|---|---|---|
| BMC-91 or BMC-91X | Public liability insurance (bodily injury/property damage/environmental restoration) |
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| BMC-34 or BMC-83 |
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Progressive Commercial Trucking Authorized Agency.
Truck insurance for new CDL drivers and new owner operators is a little bit easier to obtain since Progressive Commercial & Berkshire Hathaway Homestate started offering policies for businesses under 2 years old again recently.
New Venture Insurance With Low Monthly Payments
