Isn’t it About Time?

By James P. Lamb
TruckJobSeekers The Magazine

1/30/2008

It’s 2008…Happy New Year! I love the New Year’s holiday… not only because it allows me to reflect on last year, but because it serves as an opportunity for us to set new goals, take on new projects, and seize new opportunities that will benefit ourselves and our families. Of course, the best opportunity for owner-operators is to get your own interstate authority and commercial transportation insurance. That way, you can cut out the middle man, set your own rates, and truly work for yourself. That’s what we specialize at DOTAuthority.com.

How’s this for a New Year’s Resolution:

Make More Money!

When you get your own authority, there is, of course, some paperwork that needs to be done but it’s really not that difficult. And we can help. While you can file for your authority yourself, there are some “tricks of the trade” that you should know, which makes going through a service like DOTAuthority.com a very smart idea. For instance, securing the best insurance policy is your first challenge. Here are a couple of free pointers on getting insurance…

While cost of insurance is an issue, it’s not the only issue.

Assuming you’ll deal with non-hazardous commodities, the government requires you to file a $750,000 trucking liability insurance policy for bodily injury and property damage (“BIPD”) and $5,000 to cover your cargo if you register as a common carrier. Here’s tip number one: if you get only the minimum insurance, you’ll get your authority. But you won’t get a load! The industry expects a minimum of $1mm for BIPD and $100,000 for cargo. Secure these amounts and you’ll be ready for business.

Now, for the best kept secret in the insurance industry... Many insurance companies will sell you the $1mm, but they’ll refuse to file the maximum you actually have. That is, they’ll only file the $750,000 you’re required to file so that they are not on the hook with the U.S. Government for the full $1mm. What does this mean for you? Well, if a shipper or broker sees your equipment post on a load board and then checks your authority through the FMCSA Licensing & Insurance System (www.safersys.org), they may conclude that you’re not even worth calling. That’s right… even though you have the right amount of insurance, they’ll never know it all because your insurance company led them to believe you had only the bare $750,000 minimum. They’ll skip right over you and on to the next carrier who shows $1mm on file. We believe this business practice costs you money. You need an insurance company that won’t play games with your livelihood.

I’m a USDOT licensed Practitioner and I’ve been helping owner operators succeed for 10 years now, ever since I left my job as a motor carrier regulator with the Department of Transportation in New York in 1998. Some folks spend all their lives working for someone else without ever seeing the real money. You only have so much time in your career left. My firm DOTAuthority.com will help you get the authority ball rolling and find the right insurance company at the right price.

So, if you’re ready to learn more about the interstate authority application filing process and insurance costs, please make that New Years Resolution and call us today Toll Free at (888) 414-1874. You really owe it to yourself and your family.

It is a New Year. Be your own boss and make more money.

Isn’t it about time?