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Leased Owner Operators
As an owner operator leased to a motor carrier you must obtain insurance coverage that protects you, your business, your contracting motor carrier and the general public. As your business grows you will face additional risk of loss. Risk is present in every phase of your business but is not always self-evident. To protect your business and to meet the compliance requirements of your contracting motor carrier, we offer insurance products that provide insurance protection and financial security to your business and family.
There are several insurance products that most independent contractors are required by contract to maintain. These products typically include non-trucking liability and occupational accident or workers' compensation insurance. Listed below is a brief description of each product.
Non-Trucking Liability
Non-trucking liability, historically referred to as "bobtail", offers liability coverage for personal incidental use of the power unit by the contractor while not under dispatch. Independent contractors must have an active permanent lease with a motor carrier in order to be eligible for coverage. Coverage is null and void if there is no permanent lease. This product excludes coverage while you are operating "for-hire". If your business obtains DOT Operating Authority you are required to procure primary auto liability insurance. If you need primary auto liability insurance please contact us for a quote.
Occupational Accident
Affordable coverage that provides accidental death and dismemberment, accident medical, and accident disability payments to owner operators injured on the job. Coverage and limits are among the broadest available. Product can be rated to include coverage for casual laborers. This product can be written in conjunction with a workers' compensation component designated to meet the compliance requirements of the contracting trucking company.
Workers Compensation
Are you required to obtain statutory workers' compensation for your business? Your legal form of ownership affects who is covered by workers' compensation law. In many states, workers' compensation is required for certain types of business. We are familiar with the laws of most states and can assist with your insurance needs.
In addition to these required coverages, RDR Insurance offers numerous other insurance products available to leased owner operators. Some of these products and services include:
Auto Physical Damage
Covers loss or damage to an insured truck caused by collision and other perils on an actual cash value basis subject to various deductible options. GAP and downtime coverage is available. Premium is determined based on the stated amount provided by the insured.
Life & Health Insurance
PPO medical plans, major medical, short-term health, disability insurance, dental insurance, vision insurance, universal life, cancer insurance, and accident only insurance. Most of these products are guarantee issue and available with flexible payment options.
DOT Authority Assistance
As your business grows you may decide to obtain your own DOT Operating Authority. If your operations include interstate commerce, you must comply with the applicable Federal and State regulations. To begin the process you must first obtain a USDOT number. A USDOT Number is required if you have vehicles that are over 10,000 lbs.
To obtain a USDOT number (no fee required) you must complete the MCS-150A (Safety Certification Application). You may obtain the Forms via the Internet by visiting the FMCSA's website (http://safer.fmcsa.dot.gov). The MCS-150 and MCS -150A may be completed online. If you do not have access to the Internet you may also obtain these forms by calling the FMCSA at (800) 832-5660.
If you operate as a "for-hire" motor carrier you must also obtain Interstate Operating Authority (MC number). The definition of "for-hire" is a person or company that provides transportation of cargo or passengers for compensation. To obtain an MC Number you must complete Form OP1 (Application for Motor Property Carrier and Broker Authority), pay a filing fee of $300 for each type of authority you request, have your insurance company file evidence of auto liability and cargo insurance and have a Process Agent submit a BOC-3 (Designation of Process Agent Form). A Process Agent is a representative upon whom court papers may be served.
Once you meet all of these requirements the FMCSA will issue your operating authority. For additional information about this process you may contact the FMCSA at (800) 832-5660, or visit the FMCSA online at (http://www.fmcsa.dot.gov).
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