A new year brings new ideas with resolutions to finally tackle those dreams left on the back burner. For some, those dreams include owning their own truck and going into business for themselves. Before you hit the road, you need to find there are some business things you need to do.
As seen on www.truckinsure.com, truck fleets and owner-operators need insurance to cover their liabilities. Insurance is not sexy but a necessary part of doing business. A broker can go over the requirements with you over what you need, but in general, you should have a variety of liability insurance coverages including general liability, non-trucking liability and primary liability. Additionally, you need to look into uninsured/underinsured motorists, physical damage coverage and medical payments.
You probably already have your CDL, but if you don’t, you need to acquire the right license for the truck you purchase. Your truck needs a federal DOT number and a motor carrier authority number. These tracking numbers require an application through the Federal Motor Carrier Safety Administration. Register your insurance with the United Carrier Registration after acquiring the tracking numbers.
Having semi-truck insurance and the right licenses helps take care of many of the less fun aspects of starting a trucking business. Also, consider having a business plan and determining a budget before making your first run.