Insurance Requirements for renting Box Trucks with Amazon Relay
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- Опубліковано 13 вер 2024
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Here is a very simple breakdown of insurance requirements if you are looking to get your motor carrier authority, rent a box truck and run for Amazon relay.
Want to learn more about trucking insurance?
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Steps to starting a trucking company with a rental box truck:
1️⃣Register your business
Search google: “[your state] Secretary of State”
Or use LegalZoom: forhire.pro/Leg...
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
Novo: forhire.pro/Novo
Divvy: forhire.pro/Divvy
QuickBooks - $7/month: forhire.pro/Qui...
**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
Ring Central: forhire.pro/Ring
Verizon Business: forhire.pro/VZ...
One Talk: forhire.pro/One...
$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/Aut... $300
Watch this video for step by step guide: • Insurance Requirements...
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/Med...
~$85 - $100
9️⃣Fill out this Quote Form for Insurance
Get a Quote in minutes: forhire.pro/qi...
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 Load Boards
Truckers Edge: forhire.pro/Tru...
DAT Power: forhire.pro/DAT
Sylectus: forhire.pro/Sy...
Truckstop: forhire.pro/Tr...
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
Request a Ryder account here: forhire.pro/Ryder
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: bit.ly/TQLcarrier
C.H. Robinson: bit.ly/CHRobCar...
Coyote Carriers: bit.ly/CoyoteCa...
Choptank Transport: bit.ly/ChopTank
Trinity Logistics: bit.ly/TrinityL...
Integrity Express Logistics: bit.ly/IELcarrier
1️⃣7️⃣Gather your documents in a single binder
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Sheet Protectors: amzn.to/3uaX0nC
OPTIONAL:
Donate: Truckers Against Trafficking
forhire.pro/TAT
Order Door Magnets
Optional if you have a rental truck less than 30 days at a time
forhire.pro/Mag...
Promo Code - 15% off: CHARLESSTRING
Order a Rexing Dashcam
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Commercial vehicles get blamed for accidents even when its not really your fault, dash cams help fight back
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I do receive compensation from some of these affiliates for referring you to them. That being said, I have a great relationship with each of these companies and I have worked with some of their competitors in the past...so there's a reason why these are the companies I recommend...they are the best. If for any reason you have a bad experience with them, please let me know because I take that feedback seriously. My business is your business, so I want (need) you to succeed.
Very informative ! Dude you have a ton of GEMS in your info section. The checklist is spot on!
Thank you...I'll have more out soon!
@@TruckInsurance Daniel, do you have any insurance contacts for Illinois?
If you need help with getting your trucking company started, getting insurance or just have any other questions, feel free to email me at office@charlesstring.com or schedule a call with me here: forhire.pro/Talk-to-us
Great video! I definitely need your help with insurance. I would like to get a rental to do Amazon relay
Feel free to schedule a call: bit.ly/CScallapp
Thank You!!!!
You're welcome!
Great video thank you
You're welcome, hope it helps!
Hello Daniel, I don’t have the money to buy box truck right now. In that case do you think I can go head and file for LLC and EIN? Just to get things started before I buy truck and file for authority?
Thanks. Great channel. Just subscribed to it.
Hello, yes you absolutely can do that!
Can you go active with renters company insurance
You cannot.
Hey just came across your video and it’s very informative but I do have a question, does the insurance company have to be A rated to be accepted by Amazon Relay?
Great information! Can you write policies in Utah? Also, leads to my next question how do I know if there are any Amazon relay loads in Utah. If not what other boards are there for box truck loads? Thanks!
I don't write in Utah but I have another agency I can recommend you to, just fill out my quote form here: forhire.pro/TruckQuote and it will be forwarded to my partner agency. If you want to find out about loads with Amazon Relay, schedule a call with me and I can take a look and send you more info: forhire.pro/call. Other load boards for box trucks: DAT, forhire.pro/DAT and Truckstop, forhire.pro/Truckstop.
How do I get the rental vin? Ryder is telling me they won't give the vin. Three won't give insurance without it. Im stuck?
If you are going with THREE, I can't really speak for them, they don't work with independent agents, it's all in-house but I would maybe try going to Ryder to get a truck and bind the insurance over the phone while your there at Ryder so they can give you the VIN. There's other options though.
My question is how do you get on the other side where you own a box truck and are willing to rent it out day by day or week by week? Something that crossed mind lol
If you want to rent out your truck, you need specific insurance for renting it out and you need to verify that whoever rents from you has insurance and that it covers your truck for the time they are renting it. I don't do rental company policies but renting a commercial truck is pretty serious and I would probably lean toward leasing it on like an annual basis.
Question for you you sir. Regarding Insurance on a Rental Box Truck how does federal filling work sir?
The federal filing consists of the MCS-90 endorsement on your auto liability coverage. This endorsement attaches to the form BMC-91 which satisfies the bodily injury and property damage requirements of the FMCSA for your authority. This process is completed by the insurance company after you bind your insurance.
I have commercial insurance so where would I find employer liability insurance under And can I just put my driver under I dependent contractor
You don't need it as long as your drivers are 1099 contractors.
So the 1mil general liability policy is separate from Auto? What are some companies that provide that and how much is average price for that type of policy?
You are correct the General Liability policy is separate from the Auto policy. Reach out to me at daniel@charlesstring.com and we can go over everything in more detail. You can also schedule a call with me here: forhire.pro/xCall
After all said and done what would have been the initial down payment for insurance for the 26th or 24 ft box truck renting because I want to go and see about that myself
It can vary a lot. Cheapest quote I've seen recently was about $6,700 and the most expensive was about $48,000. I'd say the average across all the states I write in and what people actually go with is around $18,000. What state you're in, your credit and driving record all make a huge impact on your rates.
Do amazon relay do background check
Nope. Amazon does not do background checks for Relay. Getting everything setup, finding insurance and getting your authority active is enough to not worry about someones background. If you can get your authority active, your background is essentially pardoned, lol.
@@TruckInsurance thank you
Progressive is charging me $9427.00 for down payment of the insurance and then $3148.00 for the next 9 months
Email us a copy of your quote to Office@charlesstring.com
Great content..I found a penske up street from me..I explained I want hold it over 6 months to year..they said....415 week...10 cent mile...
Thats great. Everywhere is different.
@@TruckInsurance I’ll jump on to that I need it
Does anybody know if u can get authority active with Penske liability? Please
N also doesn’t the general/public liability is the one the FMCSA require which is >750k and different from auto liability?
No, you can't use Penske Auto Liability to get your authority active. the FMCSA require a minimum of $750,000 in auto liability. The majority of brokers will require $1,000,000 though.
Is the process the same for a tractor trailer application?
Yes it is for the most part.
@Truck Insurance I'm in GA. Can I call you for a quote?
bit.ly/CScallapp
great vid and i thank you for the info. im about to apply for relay today but i found out today i wasnt covered on general liability. if i wasnt so knee deep in trying to get on i would've cancelled bc of this. so i dont have to have the general to apply and amazon wont penalize me for it?
btw we dont rent but own a truck
You have to have the general liability in order to apply for amazon. They will not approve you without it.
Daniel, Amazon says I need employer's insurance for TN. Where do I get it and roughly is it expensive?
You shouldn't need that. All the requirements listed on the Relay website don't all apply to everyone. I've done a bunch of new ventures hauling for Relay in TN, none of them have Employer's Liability coverage.
Did you know none of your links are working? It gives an error message
Yep site crashed...had to do a lot of upgrades...should be working good now!
Is $121/day .88/mi reasonable for a rental truck
.88/mi is very high
so if i have a driver set up as a 1099 contractor I do not need workers comp insurance, correct, thank you
No you shouldn't need it. There might be some scenario where it's a state requirement. What state are you in?
@@TruckInsurance Nevada
Hey Daniel. None of the links are working
I am sorry for any inconvenience! Which link are you trying to use and I will put it in the comments
@@TruckInsurance they work now. Thanks
Can you write in the state of ARKANSAS ??
I can't, I'm sorry. Happy to answer any questions you have though!
Can you do Amazon relay with the rental insurance? And thanks for the video
Nope. You need your own authority to sign up on Amazon Relay and you need your own insurance to get your authority.
Thanks a lot man maybe you can help me ? I’m trying to get in the game
Can you pay a laborer as 1099 or w2.....or can pay by cash....how would laborer get Id. Also
What state are you in?
@@TruckInsurance nj
Same question, I’m in VA
I called Ryder and they MAKE you get the insurance that covers ALL the trucks they carry, no calling your insurance agent and changing the policy because the difference in rental trucks...It's a blanket coverage? That is what he said on the phone yesterday...Is this available?
I've been in contact with Ryder. Going forward they will accept Auto Liability as long as the truck is scheduled on the policy and you have the Hired Auto endorsement. You will still need Ryder's physical damage coverage. Also...do not expect anyone at a local Ryder branch to understand all this...If you need help, feel free to schedule a call with me: bit.ly/CScallapp
So if I’m starting a trucking company and hiring two driver, will each driver will need to be insure separately? Meaning I would have to pay two down payments?
No, starting off with two drivers, you just might have a higher down payment if the premium is higher because of having a second driver.
What if I put my pick up truck on my policy just to get my mc active den go rent a truck call progressive to put the rental on the insurance
You can do that with Progressive. Not every insurance company will let you do that. Your rate will change more than likely because of the weight class difference when you get the box truck though. So just keep that in mind, whatever your rate is when you start, it will probably go up so it might be better to grab a VIN from a late model box truck (you can find them online easily, search for used trucks for sale) and use that for your quote so you have a better idea of what it will actually cost.
Also, I really recommend going through a good trucking agent, not just any agent and not just because I am one but if you go directly to Progressive, you have to sit on hold every time you need to make these changes and sometimes it can take a while, and if you get an agent that's not primarily focused on trucking, you might run into issues with the amount of service work your policy will require.
My step-dad was bout to let me use his Vin to his truck to see but thank you sooo much I just started watching your channel
Is u licensed in Illinois
No, not yet anyways. Working on expanding...takes time! I'm in NC, SC, and GA right now
Hello, I have my active authority, my truck and everything going and I do loads from DAT.
Interested in Amazon but for the general liability, the company wants me to pay the entire year up front $575. You know of Any companies that will allow me to pay the general liability monthly instead of the entire policy in full? Thanks.
It is normal to pay for the entire year up front for General Liability. That is how we do it as well.
How can i contact yui for kore private information? Orlando thanks
Typo
You can shoot me an email at daniel@charlesstring.com or schedule a call forhire.pro/call
Are you licensed in CT
No not yet...working on it but it'll probably be a few more months.
Are you a dispatcher?
No, I'm an insurance agent. Used to work for a freight broker, did telematics with Verizon, and also have my own MC...so been around the transportation game a little, lol.
Do I need a bmc 34?
No...not unless you want to be a household goods mover....like a moving company...if you want to haul for amazon relay, just select general freight as your commodity and nothing else...keep it simple.
@@TruckInsurance thanks man!