Here at Barbee Jackson Insurance we deal with new trucking start ups on a daily basis. Today I am going to go over the basics of what you need to do once you decide to start a new trucking venture. It is obviously important that you decide what to haul and make sure you have a market for what you are hauling prior to doing anything else. I am not going to go into all of that today. I am simply going to let you know what steps you need to follow once you have done your research and made the decision to start a trucking company.
- You need to make sure you have a driver that is qualified. Most insurance companies require a CDL licensed drive with at least 2 years of CDL experience. If you don’t have a driver with 2 years of CDL experience you are going to have a very tough time starting your company.
- Once you have decided what kind of cargo you are going to haul you will want to go ahead and set up a DOT number with the FMCSA. In order to set up your DOT number you will need to have your company name and address picked out. You will also need to know how many trucks and drivers you plan to put on the road. (If you plan to haul across state lines you will also need to apply for an MC number with the FMCSA at the same time you apply for your DOT). If you need help with setting up your DOT or MC numbers the phone number to the FMCSA is 800-832-5660. One of our agents also created a video that can help you apply online. The link to the video is listed below.
- After setting up your DOT/MC it is time to shop for insurance. You need to know the year, make, and model of the truck/trucks you plan on operating. DO NOT PURCHASE THE TRUCK/TRUCKS until you have the insurance quote in hand. Insurance is going to be one of if not the largest expense you have. You do not want to purchase a truck or sign a lease agreement prior to getting an insurance quote. Along with the truck information you also need to know the name, date of birth, and driver license numbers for each driver. We will ask you for more information when doing the quote but these are the basics that we will need to get started.
- Once you have your DOT/MC set up and you have purchased your insurance you should be ready to hit the road.
I hope you enjoyed this blog. Please give us a call at Barbee Jackson Insurance for any of your trucking insurance needs!
Transportation Risk and Insurance Professional (TRIP) Caleb Jackson is Vice President of Transportation Insurance for Barbee Jackson Insurance. He started his career in insurance while attending University of Florida working as a claim’s representative at Nationwide Insurance in Gainesville, FL. Upon graduation he took his years of experience in claims to apply them at the agency level.The Transportation Industry faces unique challenges when it comes to Regulations, Statutes, and Motor Carrier Liability Coverage. Caleb is considered one of the foremost experts in understanding the Transportation Industry and its Risks. Hundreds of trucking operations across the United States enlist his help each year in finding insurance coverage and ways to reduce claims.
If you wish to contact Caleb Jackson for insurance related questions please email him at email@example.com