MC Numbers: Get One and let it age? Buy one?

[@stevenj.kasperski795]

Hey, Trucking insurance specialist here. You can age your MC with a personal vehicle first. If you originally do your FMCSA and list one vehicle under 10k. Then you can get a fairly inexpensive 300k CSL policy while it ages (way cheaper than 750k on a big tractor). You just need to make sure you update your FMCSA with the proper form and be sure the insurance gets the updated forms filed before you start running under your own authority. It can ket you age your MC at a discount.

[@pmix2256]

if you change an llc to an s corp while doing that would that reset everything u did?

[@omkarsran7433]

EXACTLY THATS WHAT I DID TO AGE YOUR MC

[@anthonyquentere2112]

Any company's?

[@eastside2279]

What’s your email I have questions and need help doing that ??

[@prolinkholdings6146]

Wow - nice info! Thanks!

[@joemalinak7410]

I've kinda accidently done that. I got my mc activated only to find out the company I was leased on to has a clause that would make it very expensive to complete the lease purchase of the trailer early. I only had 2 months left to complete it so it wasn't worth pausing the insurance or leaving without the trailer. 9-22-22 is so far away :( What I did discover is once my mc went active the telemarketers for factoring and dispatch companies blew my phone up. It was kinda nice at first because it saved me the terrible of looking up companies myself. In speaking to multiple dispatch services, they all emphasize that they have plenty of brokers they deal with that will work with new mc #'s. In my case all the insurance was costing me around $950/mo for my authority. It is costing around $1450/mo for the insurance through the company I'm leased to. Most of the dispatch services were charging around 4-5%. I figure on an $8k week that's $400/week or so on the high side. I figure with what I'm saving in insurance plus not having a much kept by the company Il still come out ahead. Way I see it, it stinks to pay the dispatching services but I see that as an optional way of the authority agree hurdle. I figure using dispatch service and factoring (which takes 3%) I'm keeping 92-93% vs the 88% that the company I'm lease to pays. But with my authority I have the option to use or not use the factoring and dispatch services at my convenience. I don't have that option with the carrier in leased to. I only am dealing with factoring and dispatch services that charge for when I actually use them rather than a flat fee whether I use them or not. In theory I could book my own load and use factoring which will only cost me 3%. Or I could use dispatch services to book the load and not factor out and only cost me 4-5%. That's my 2 cents and how I plan on dealing with the new carrier hurdle for what is worth.

[@kevinkingston2411]

so what did you do? did you use dispach services, or lease from another company? how was your first month? first 3 months or 6 months? did you have problems from broker during booking a load?

[@joemalinak7410]

@Kevin Kingston I ended up paying for insurance for my authority the remaining two months I was leased to the company. I haven't tried a dispatch service under my authority. I started it booking my own loads. During the first month I ran the dispatcher from the company I was leased to reached out. I then found out that he was actually a dispatcher at one of those dispatch services and not a direct employee of the truck company I was leased to. My first month under my authority was with the authority being 2 months old. I did run into a handful of brokers that wouldn't let me book loads until my authority was over 3 months old. I don't recall exactly how many. Maybe 3-4. I've only encountered 1 or 2 that required authority being over 6 months old prior to my authority being 6 months old. And 1 requiring 1 year. It wasn't an issue. I was able to find loads from other brokers so it wasn't an issue really. I did sign on with a factoring company and have used them for nearly every single load. A lot of the brokers offer quick pay off their own. They vary though. Some of them take a few days for their quick pay. Some pay same day. Some charge a little more and some a little less than the factoring company I use. I only use the factoring company because I'm lazy. The brokers that offer better quick pay terms haven't been enough to be worth the time to set it up. This could vary for another driver though. I've only had issues with one broker. The load paid $70 per ton. I didn't notice on the rate con that is all it said. The factoring company only paid me $70. Took some time to straighten it out. The reason for the issue was the broker couldn't read the scale ticket because of the way it scanned. Once I was able to get a clear copy sent, the broker sent a rate con showing the correct rate based on weight x $70 (I forget the exact amount). Once that happened the factoring company paid the difference. That was an issue of inexperience on my part more than anything to blame the broker for. If I had to do it all over again, I would probably have used a dispatch at the start. Probably only 2-4 months. Not knowing how to do the onboarding with new brokers was a bit of a hassle. It seemed like at first there was a variety of different ways they did things. Lately though any new brokers I've dealt with use RHIMS. That process is simple. Though now I've been running a couple months in not having to on-board with new brokers much. So the reason I'd use the dispatching service at first is let them do the dirty work of onboarding for me. After some time when i notice I'm pulling loads from the same brokers I would drop the dispatching service. If you were to do the same, I would also recommend testing out load boards while using the dispatch service if you do plan to drop them after some time. That way you can narrow down and are familiar with which load board you like best. I would also recommend doing the onboarding to a few brokers yourself so you get a general idea of the process. That way if you drop the dispatchers you already are familiar with the process. Also, if you're unfamiliar with where the better paying freight lanes are, the dispatch service will help you figure that out. I was able to get a good idea what they were while I was still leased to the company. What I do now since I'm not using a dispatch service is I look for a load where I'm at. Then I look at loads coming out of the area of the destination to see what they look like. You may have to look out two trips ahead. For example, a good high paying load to Florida is tempting. It's common knowledge freight out is crap. But for a load 1500 miles paying $4/mile going down, if I could find a short one going to the Carolinas, northern Georgia, or Alabama paying $1.50/ mile, them out of one of those states paying $2.50-3/ mile I might take it. I find the biggest issue drivers have is looking at the individual trip rather than the bigger picture. The example to Florida is worth if if overall that week you still average at least whatever your target $/ mile is.

[@EDnola]

Thx for sharing

[@df6logisticsllc470]

Wow! I should just spend most my time here. Very detailed and easy to follow. 🙏

[@davidkang6663]

wow!!! I'm so glad I found your channel, you're everything I was looking for, thank you for doing this.

[@archersoutdoors4828]

Thanks for the video/info! We are in the process of getting our authority (3/1) and have been leased onto another company for 4 years. The way the insurance was explained to me was “it’s ok to be OVER-insured, but you cannot be UNDER-insured.” So the overlap is no problem. Not sure if that is 100% correct but makes logical sense. Thanks again!

[@TruckingMadeSuccessful]

Thanks for letting me know!

[@zydanefinancialjourney.4044]

This is what I needed. Your content is everything!!!

[@TruckingMadeSuccessful]

You are awesome, thank you for the consistently positive comments :)

[@damonisatdamon_x333]

Exactly what I've been wondering about for weeks thanks!!

[@DanielPena-nq3bc]

This is what im curently doing with my company right now. In January no broker weren't taking us in. So we used a close connect of ours to let us work under his DOT and he put us on his insurance policy. Looking forward to August when we finally have 6months of DOT

[@sardoreshkuvatov1885]

Where you were able to find a truck for lease with new MC?

[@DanielPena-nq3bc]

@@sardoreshkuvatov1885 we had already bought a used one a Peterbilt 1995

[@Aguilaraxel320]

Question so did you have to pay insurance to keep your dot and mc active for those 6 months?

[@amirabelardo8203]

@@Aguilaraxel320 had the same question .hope they answer

[@edkspilot]

Thanks for the information! Thanks for taking it to the board!!!!

[@_enriquerios]

You are a saint😭 Always giving us some awesome info!

[@fedboy601]

You are so beautiful and smart . I have just started my company by following your videos . Thanks again .

[@ulianabobina2172]

Thx so much for the video u making, I watched all of them, I just stared to open MC company and ur information helps me a lot!!! You the best!!! Waiting for more videos from you😍🥰🎉🎉🔥🔥🔥🔥🔥🔥🔥

[@user-of5bn4ji5q]

It is possible I know people that have done it but first get leased on to the carrier and then get your MC number like that if you have a problem with your insurance you can always shop around. It’s more expensive that way since you will be paying for two insurance policy’s.

[@TruckingMadeSuccessful]

Thanks for letting me know! Yeah, it would be quite an expense- I still think it would be better, especially in this market (maybe not February but in general) to just get your own MC and run under your numbers.

[@fransleeuwe5429]

so interrestng to watch your videos, i am from Europe and hired as a Driver of a Reefer . thumbs up miss ... LETS GOOOO..

[@robertabbott8402]

Hi, Miranda, thanks for all your great content! Learning a lot. I am a new driver, but do plan to go O/O within the next two years. In one of your videos you mentioned aging your MC and DOT #s, and I thought, "wow, great idea...I'll do that, but in this video you talk about having to have insurances tc. so the cost to do so while no owning or operating a truck and generating revenue, seems to make "aging" something you can't really do unless you're ready to drive as O/O. But in one guy's comments he said the following: (cut/pasted)

[@trentmsteel]

I did this, but not on purpose. I did my first year this way while my truck was insured with my authority's policy and I was leased on to a Mega company, the one that likes the color oranges. My insurance agent was cool about it, but did warn me if anything happened to the truck, neither my policy I was aging would pay out nor would the one with the Mega company. Because I can not "double bind a truck on more than one policy." Luck has it nothing ever happened, no accidents.

[@vakhtangsutidze]

Amazing all you videos is like reading my mind great videos!!! Thank you 🙏

[@meier259]

THE SHORT ANSWER IS YES YOU CAN INSURE AN ASSET THROUGH MULTIPLE POLOCIES

[@TruckingMadeSuccessful]

Thank you for letting me know! 😊

[@robertabbott8402]

Miranda, seems the comment length was limited. So I will reference the comment by author: Steven J. Kasperski...he stated he was trucking insurance specialist

[@prolinkholdings6146]

Love this channel!

[@charlescowan4771]

Most people pay insurance on old car not being used. Can insurance old beater for very little.

[@EarthKingWaya]

Thanks ❤️

[@luismontelongo4980]

Thanks for the great info like always! What ELD do you use and whats the cost per month? Also do you have a cam on your drivers? TIA

[@TruckingMadeSuccessful]

We use Keep Truckin which is $75/mo with a cam. We never have driver facing cams, thats a terrible breach of privacy. But we do have road facing cams :)

[@luismontelongo4980]

@@TruckingMadeSuccessful Great.... I just got mine today and also got it with front facing camera only. I agree least we could do is let them have some privacy when driving. I have been following your videos and they have been great help!

[@thedoc8876]

I want to also be able to move household goods, I need an arbitor policy to be able to do this. Does anyone have a reputable U.S based arbitor company?

[@whatsapp8896]

Leave a msg ◼⤴🔝⤴

[@Flipping_Assets]

What if I have 2 trucks? One to lease onto a company and the other to start my MC?

[@Myblackisbeautiful100]

How many years or months is a MC number good for, and how do you keep it going? Is that what the MCS-150 form is good for?

[@AT-yo3ik]

Good video

[@jaydhillxn]

Anyone has good recommendations on insurance agent that works with new carriers?

[@elijahelijah2042]

You don't need a CDL ma'am..

[@804titan]

can i obtain an MC number as a company (dispatch) and have owner operators operate under my authority ?? great video series, thank you

[@bushwacker3292]

Hell I'll sell mine I got in 1999 and it's clean already loaded with brokers 👍 And for that young ladies awsner no you want be able to use someone else policy or another company

[@SpencerDennis]

Hey! I know you probably get slammed but are you still answering emails? Love your content!!

[@TruckingMadeSuccessful]

Thank you! I am but with a bit of a delay . If you sent me one I promise I’ll get back to you soon! 😊

[@solomonmelese2859]

She is really a genius...she replied me after two days... thanks to her

[@curly50POW]

How do i sale my mc

[@AnSTruckRepair]

Are companies looking for an aged DoT NUMBER OR MC. I just got my MC number but ive had my dot number open for a numbers of years

[@Spartan33333]

What happens if you use your lease insurance for your own authority and then when the times come replace it with a new own comm insurance? is that possible?

[@juliansanchez6134]

Is there a specific type of truck required to get your authority? Can I get an MC number with a sprinter van or must it be a certaint size?

[@CAM-fr8zp]

Whats the minimum Ins required from brokers with hot shots? Will 300k do when booking loads?

[@lnkinc6823]

Thank you for the video I have a question regarding once we get the DOT can we get the MC number separate or do you have to get it all together because we registered and thought we needed the dot only but we actually need both

[@supermodelatlanta1354]

Separately or not at all

[@user-bs9ex5rb6m]

I already filed for my Dot number is it to late to try and get it expedited

[@heavyj9224]

how are you doing, if you got insurance after 21 days your authority will active?

[@mikebrown1809]

Hello, do you know on which sites i can sell my MC with clean record. Had it for 3 years. My insurance was super cheap too cause of that.

[@amirabelardo8203]

Do u have a price in mind 😊

[@toshiyahbraswell9141]

Hey, I had my MC number for over 3 years with a perfect safety score and no revokes. We keep our insurance active as our company is still active but we are looking to sell our MC. Do you know the process on transferring to another carrier?

[@zandriahamilton9495]

Hello Are you still looking to sale ?

[@jerseycowboy1]

Does you MC numbers age if you go inactive for say 3 years then reinstate it. Would they consider your business to be 3 years old or a new business when your trying to get insurance or contracts.

[@bhmoney100]

new biz

[@user-pr3nr5qf2u]

How do i go about getting commercial car hauler insurance after progressive dropped me? I now have a new driver? The policy dropped as a result of 2 back-to-back accidents from a driver that will no longer be behind the wheel. Again, thank you so much

[@supreme_jeff08z66]

I just watched one of your other video ,,you said get your dot # and let it age ,,how does that process work ?

[@TruckingMadeSuccessful]

Some insurance companies require a 1 year old DOT so you can obtain a DOT number (there are no fees associated with getting one) and simply not use it and let it age. After 1 year, those insurance companies will be happy to work with you!

[@lashan4636]

@@TruckingMadeSuccessful when u get the free dot number.do u have to file anything to keep it active?

[@Wintersdaughter]

@@lashan4636 yes update biennial registration every 2 years

[@truckerron]

Should have checked this out before doing a so-called informative video.

[@milonestephane9528]

How much experience do I need to lease on to your company??

[@TruckingMadeSuccessful]

We require a minimum of 2 years :)

[@TrangNguyen-oo6fv]

Would you know where I can post to sell my 15 year old MC? Thanks

[@gediabdille9796]

I need to purchase your old mc number

[@bhmoney100]

it starts over at 0 age when transferring. they changed this policy a few years back@@gediabdille9796

[@eleonzocaldeeon1131]

How much is the cost to get the DOT#and the MC #?

[@TruckingMadeSuccessful]

Dot is free, MC is $300 :)

[@eleonzocaldeeon1131]

Thank you.

[@johnnyseely8473]

See quit a few trucks that have there own authority and leased own with an9ther company

[@diamond4603]

How can I contact with you I have a question

[@TruckingMadeSuccessful]

[e-mail]

[@ShortsArtOnline]

Can't focus, youre confusing me with your beautiness !