I keep hearing about people trying to “SAVE” money buy starting their policy with the minimum requirements to get their authority activated with the intention of paying less down and then increasing the limits and adding the coverages they’ll need shortly after. I have nothing against this…your insurance company might not like it…but I just want people to understand how this works.

Let’s say your quote with everything you are going to need is $15,000 for the year with a down payment of $2,505 (16.7%) and 10 monthly payments of $1,249.50. Now if you were to only do the minimum requirements, maybe that reduces the annual premium to $8,900 with a down payment of $1,486.30 and 10 monthly payments of $741.37. NICE…you just “SAVED” $1,018.70 on your down payment!… BUT not really. So hopefully you did your homework and you’ve got a good agent so from the time you bind your insurance policy till you actually hit the road for your first load, maybe that only takes a week. You have to increase your auto liability limit from $750,000 to $1,000,000 and add cargo coverage and general liability to get approved for Amazon Relay and most any other brokers. Then if you are renting, financing, or leasing a truck, you have to have physical damage added. The $1,018.70 you “saved” is going to be added onto your next months bill. It is not fully divided out over the remaining payments.

This isn’t a terrible idea as long as you have everything lined up to hit the road and hustle to get out of the hole you’re starting in. If you are going to do this, make absolutely sure you have accounted for the amount of time it will take for the insurance company to submit your filings to the FMCSA, and how long it will take for the FMCSA to update your authority status, and how long it will take to get approved by Amazon Relay, and IF you can get a truck in your area anytime soon if you are renting or how long it will take for your truck to be ready if you are purchasing or leasing.

My only intention here is to share info and be a resource for people who want to educate themselves to make better business decisions…Not that mine are always the best by any means, but hey, I keep trying!

Steps to starting your Box Truck Business:

1️⃣Register your business

Search google: “[your state] Secretary of State”

Or use LegalZoom: forhire.pro/LegalZoom

Cost varies by state

2️⃣Request an EIN (Tax ID)

IRS website: forhire.pro/EIN

Free if you do it yourself

LegalZoom can include this if you go through them

3️⃣Setup a bank account and sign up for QuickBooks 

QuickBooks – $7/month: forhire.pro/QuickBooks

***Big banks have better technology***

4️⃣Setup two email addresses

1 for important business, 1 for your motor carrier application so you can weed out all the marketing

Google Custom Email: forhire.pro/Google

Use promo codes for 10% off:

Starter Plan – $6: U9CC7FHR3R4R9FG

Standard Plan – $12: E9NCH9XFED6DV9Q

5️⃣Get another phone number to avoid unwanted marketing calls/texts

One Talk: forhire.pro/OneTalk $25/month

Once you download the app, setup your voicemail and forward all calls straight to voicemail

6️⃣Apply for your Motor Carrier Authority 

Application: forhire.pro/AuthorityApp $300

Watch this video for step by step guide: https://youtu.be/qixJrVv-H3w

Seriously watch this video and don’t mess it up, takes forever to fix mistakes

7️⃣Get your BOC-3 and UCR

BOC-3 – $25: forhire.pro/BOC-3

UCR – $62: forhire.pro/UCR

8️⃣DOT Physical Exam for Medical Card

Find a local examiner: forhire.pro/MedExam

~$85 – $100

9️⃣Fill out this Quote Form for Insurance

Quote Form: forhire.pro/BoxTruckQuote

*If you are in a state that I’m not licensed in yet, I’ll forward you this form and it will have exactly what you need to get a quote in your state.

1️⃣0️⃣Setup freight factoring and fuel cards

RTS Financial: forhire.pro/RTS

RTS is by far the best for both factoring and fuel cards plus they offer special rates for Amazon Relay

1️⃣1️⃣Find an amazing dispatcher 

Interview several, don’t look for the cheapest, you absolutely want the best

If they charge more than others, that probably means they are better

1️⃣2️⃣Sign up for DAT 

Truckers Edge – $39.95/month: forhire.pro/TruckersEdge

DAT Power – $149/month: forhire.pro/DAT

First month is free, start learning how to use these

1️⃣3️⃣Shop Box Truck Rental Rates in your area, let them know you are a motor carrier for Amazon, some provide better rates for this

Request a Budget account here: forhire.pro/Budget

1️⃣4️⃣New Entrant Phone Call

You will get a letter in the mail from FMCSA for your audit call. Do this ASAP. It’s easy, they basically just go over your application to verify what you’ve entered.

1️⃣5️⃣Pay your down payment for insurance close to the 21st day after applying for your authority

You have to wait 21 days from the time you apply for your Authority and you want to make your insurance effective a couple days prior to that to make sure the insurance company has time to process the filings so your MC will be active on the 21st day.

1️⃣6️⃣Apply to brokers

TQL: https://bit.ly/TQLcarrier

C.H. Robinson: https://bit.ly/CHRobCarrier

Coyote Carriers: https://bit.ly/CoyoteCarrier

Choptank Transport: https://bit.ly/ChopTank

Trinity Logistics: https://bit.ly/TrinityLogistics

Integrity Express Logistics: https://bit.ly/IELcarrier

1️⃣7️⃣Gather your documents in a single binder

Binder: https://amzn.to/3dqvkoW

Sheet Protectors: https://amzn.to/3uaX0nC

OPTIONAL:

Order Door Magnets

Optional if you have a rental truck less than 30 days at a time

forhire.pro/Magnets

Promo Code – 15% off: CHARLESSTRING

Order a Rexing Dashcam

forhire.pro/DashCam

Commercial vehicles get blamed for accidents even when its not really your fault, dash cams help fight back

Categories: Box Trucks

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About the Author: Charles String, Inc.

My goal is simple; Help people start trucking companies, and keep them rolling. With my experience in transportation, I quickly decided to specialize in trucking insurance. It’s much more my speed and comfort zone: demanding, hectic, stressful…all the necessary ingredients to maintain my interests.

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