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Where can you get commercial insurance for a start up business hauling newly manufactured boats?
Wiki User
∙ 16y ago
It depends on what type of 'rig' you are going to use. If you are going to use a 3500 style 1-ton pick-up truck, insurance is harder to find, and more expensive. These are often called "Hotshot Rigs."
If you use a truck (built mainly to pull or haul), then it is easier to find insurance. You have to find a firm that will insure your radius of operation. You will also need liability coverage of no less than $750,000.00 and you will need cargo insurance; of which the boat manufacturer will tell you what they want you to have. You might also need to have General Liability of $1 million.
Most cargo insurance costs $750.00 for every $25,000.00 of cargo insurance. So, $100,000.00 of cargo insurance will generally cost you $3000.00/year. You can get deductibles of perhaps $1000.00, which may lower your cargo insurance costs.
If you finance the 'rig' you are going to have to have physical damage insurance.
Check local firms, but you must state that you have a haul-for-hire business. You will also need a DOT number, and the DOT dictates the liability levels of insurance to protect the general public.
Also, do you have a CDL (Commercial Driver's License) or do you need one for the kind of rig you are using? Check with the DOT. And you have to keep a driver's log daily, and have a medical card to go with your license.
If you can meet the requirements set by the DOT, and you can make money...great. But do not cut rates to get the business, as that's a sure way to be out of business shortly. Transportation can be highly competitive, so be careful.
Wiki User
∙ 16y ago
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What are some averedge trucking insurance ratesI was?
An average commercial trucking insurance rate is hard to pin point without more information. The price will depend on the nature of the trucking business, the size, age, make and model of your truck as well as how many drivers there will be and what their level of experience and driving history is. For instance; if you are hauling hazardous material or very expensive cargo you will have a different rate than someone hauling light, inexpensive, stable goods.
Does insurance cover things damaged while hauling them in a pickup?
It depends on the insurance.
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You should be able to contact your local insurance company to ask this question. It might depend on the class of your drivers liscense,the type of truck you are driving and the type of load you are carrying. Also contact your Dept of Transportation they can also tell you of the proper insurance you will need.
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According to GMC, their trucks "get the job done" so they would be good for commercial hauling. However, you should always comparison shop and take into account price, financing options, and warranties.
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the person who pays for the fuel
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letter of intent for hire from intended hauling company
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College Hunks Hauling and Allen's Clean-up and Hauling Service are two companies that haul junk and trash from private and business locals. Atrans is a company that moves cargo trailers. They work with both importers and exporters.
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Commercial Truck Insurance: a Must-Have Before You Hit The Road?
Whether you own and operate your own commercial vehicle or you drive a company-owned vehicle for your employer, you will need commercial truck insurance in order to be able to legally operate your vehicle. The amount and type of coverage you will need may vary by state, but you will need to have some level of coverage and proof of insurance with at all times when driving regardless of where you are. If you are driving a company-owned vehicle, then your employer should be providing commercial truck insurance for the vehicle. You should not have to worry about anything aside from making sure the proof of insurance is with you at all times just in case you are in an accident or are pulled over. But if you own and operate your own commercial vehicle, whether for your own business or someone else's you will need to provide your own insurance coverage. Your existing auto insurance provider, the same one you use for your own auto, home, and life insurance needs, may also offer commercial services as well. This makes for a convenient "one stop shop" option as you can get all of your insurance needs met in one place. And you will have the peace of mind of knowing you are working with someone you can trust, based on your past business dealings. However you may prefer to seek out someone who works exclusively in the commercial niche, in which case you could search online or ask other local people in your industry for a reference. Some of the factors that will determine the cost of your insurance include what commercial use the truck is being used for (hauling goods, moving, etc.), what type of goods are being hauled, where it is being operated (are you traveling across state lines), and if you are getting coverage that protects you only while you are using the truck for commercial purposes or at all times (such as taking the truck in for repairs). And as you compare providers and policies, check with independent ratings boards like A.M. Best to see how commercial insurers are ranked. The last thing you want is to get a low rate upfront but then be faced with difficulties and disputes when the time comes to file a claim. It's worth paying a little extra to know that you'll have the support you need when a problem arises.
