insurance

+25 percent: What double the liability insurance coverage will likely cost

One insurance rep cites a likely 25 percent increase in premiums for independent owner-operators boosting $1 million liability coverage to $2M. More on FMCSA's expected insurance-hike proposal here.

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What will a mandatory minimum insurance hike cost an owner-operator?

Liability insurance, particularly for new owner-operator businesses, can rank number one for in fixed costs for an independent without a truck payment -- $10K a year or more for a new business. If you've boosted your total coverage amount from $750K or $1 million upward in recent years, how much more did you subsequently pay in premiums?

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Independents: How much liability insurance do you carry?

With FMCSA preparing a rule to increase the minimum level of required liability insurance for carriers, this rule probes current levels of coverage among owner-operators with their own authority.

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Who says truckers can’t agree?

In the wake of the scandal over the Maxim ad, Wendy says, "let congress know how much of a target the trucking industry will be if the insurance minimums are raised from $750,000 to $4 million," as some have proposed.

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FMCSA: Current insurance minimums for carriers ‘inadequate,’ new rule coming

The current $750,000 minimum liability insurance required to be held by carriers is too low, said the Federal Motor Carrier Safety Administration this week, and the agency plans to create a rule upping that minimum.

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How to get access to military freight

A primer of doing business direct with the military -- or the 3PL contractor controlling almost half of general military freight -- to haul DOD loads.

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Obamacare case analysis: Stick with the wife’s insurance

Owner-operator Michael Wright, of Michigan, runs through health-insurance numbers as he contemplates potential moves in 2014 as the Affordable Care Act gets closer to implementation.

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Is Obamacare impacting your 2014 insurance preps?

Owner-operators, are you seeing insurances rates on the new exchanges higher or lower than what you pay now for coverage, or are new requirements causing your current insurer to adjust rates? Weigh in via this poll.

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Obamacare upside for independent contractor model?

Only if insurance rates get reasonable, as it were, on the long-term basis.

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Insurance choices: Pay to play or pay the fine?

For owner-operators in certain situations, Obamacare will solve some health care financing problems. It also creates an unprecedented health care financing problem – fines – for those who want no part of health insurance. Some of the clients of owner-operator financial services provider ATBS will find the ACA policies to be “something they can actually afford, with the subsidies they could qualify for,” Andy Erwin, ATBS tax manager, told me. A key factor will be that ...

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