Starting a small business is exciting. You get to work for yourself and can enjoy all the freedom that comes with being your own boss. Many people choose to start a small trucking company as their first small business. Starting a commercial trucking company though comes with many regulations and insurance requirements that first-time business owners should know. Below, we have outlined some important pieces of information you should be aware of before starting your trucking company.
For a trucking company, your MC number must be active if you plan on operating as a for-hire carrier. After you buy a BOC-3, your MC number becomes active 15 days later after your insurance company completes the appropriate filing.
Interstate vs. Intrastate
It is important to know the difference when starting a trucking company. Intrastate means that you are traveling within one particular state. Interstate means that you plan on traveling across state lines.
The most important thing to know when starting a small trucking business is the amount of coverage that is needed. For commercial liability, it is recommended to at least carry a minimum amount of insurance coverage.
The residents from Poteau, OK know that insurance is of vital importance, especially when starting their own small trucking company. At the Owens Agency, LLC, we can help advise the citizens of Poteau, OK with what type of trucking insurance coverage to get. The experts at The Owens Agency, LLC are trained experts in insurance policies and can help get you started today. Feel free to call the agents at The Owens Agency, LLC today to update your coverage or get started with brand new trucking insurance policy.