Questions on Hauling for profit

[scoutcub]

I've been toying with the idea of "profit" hauling somewhere in the future. I have an 06 dually diesel, a 30' gooseneck tandem (25K) and a 30' 14K cargo trailer. Still enjoy driving Xcountry. My primary concerns are.....Insurance - anyone have experience with what type of insurance to get? 100K? 1Mill? Typical cost of insurance?
I have a chauffer's license, but am seriously considering getting a CDL. Also, I spose I would get a DOT tag/number....I think this is free?
If, after doing all this, does this open me up to commercial scrutiny....keeping logbooks, required to stop at scales, etc...I guess I'm looking at all the "cons" to see if it's doable. I've lurked around Uship quite a bit, actually have an account there. Seems like more than a few folks (independants) are doing this full-time.
I think I would concentrate on hauling equipment (tractors/construction equipment, etc) since I've done quite a bit of that on my own, and very comfortable doing it. Also considering using the cargo trailer for "sheltered" loads, or perhaps even household moves...(parking trailer, no loading on my part, just transporting) but in my mind that brings more headaches as well.

As always, any input is appreciated!

 

[MarkV]

Things vary by state so your state DOT is the one to talk to. Here if you are taking money you are commercial and require a CDL, medical card, log books, DOT numbers and you stop at the inspection stations. The commercial insurance for your truck and trailers would be the deal breaker for me.

MarkV

 

[MFRED]

I'v egot a bunch of buddies that thought the same thing in the last few years. Have the truck, trailer, even the liscence, why not get DOT #'s and go for it?
The last of them just cancelled his Comercial Policy & DOT #'s last month. It's great to get a job here & there hauling for cash, but when you try to do it legally, it just adds too much cost.
I'm not saying it can't be done, it can. Lining up loads all the time, being legal, costs to be legal & trying so survive the cut throat pricing makes it tough.

 

[Wis Bang]

Commercial transportation is the only arena where every buyer WILL drop you to save $0.02 and there IS always someone willing to undercut your price.

The US DOT has established minimum insurance levels for interstate motor carriers. You may also need authority. The DOT is cracking down on that and if you are caught without interstate authority, you go to jail and they impound your equipment...

Seek some professional guideance b/4 you cross state lines! Independent contractors often lease to a carrier in order to use their insurance, authority & fuel tax accounts not to mention the carrier does the billing and collections. Yeah you work for a percentage but they are often paying you long before they get paid. Last carrer I worked for did about $18 million a year [gross] and the controller often mentioned that there was at least a million 'out on the street' at any given time.

Make sure you know what you are getting into!

 

[tcartwri]

And the truck and trailer have to be inspected every year. Flat rate for that is between $400~500, for each unit.

 

[Duffster]

Things vary by state so your state DOT is the one to talk to. Here if you are taking money you are commercial and require a CDL, medical card, log books, DOT numbers and you stop at the inspection stations. The commercial insurance for your truck and trailers would be the deal breaker for me.

MarkV

Being for hire doesn't automatically require a CDL. Commercial Ins isn't that big of deal either.

Scout, what do you haul for now? I see you post pics of some pretty big loads that seem like they would be more than personnel use.

 

[QRTRHRS]

With fuel costs going only one way and the questions you are asking, I think you are in for a rough ride so to speak. There is no shortage of experianced owner/operators out there already struggling to stay afloat.

Now if you are talking just driving and are getting a CDL, have a clean background, etc., etc. the CSA may have provided a job or two for you. To me, CSA is providing that "good" driver shortage you may have heard about for the last upteen years.

Truth is, there has never been a "good" driver shortage. What is short though is decent pay and decent treatment. CSA is not going to do anything to change that.

You just might want to peruse the forums that exist if you can stand the disgruntled comments from a lot of bitter folks.

 

[firedog]

And the truck and trailer have to be inspected every year. Flat rate for that is between $400~500, for each unit.

That seem kind of high.
I just had both our rigs (that's tractor & trailer) inspected for $124.00 each rig.

 

[tcartwri]

That seem kind of high.
I just had both our rigs (that's tractor & trailer) inspected for $124.00 each rig.

Well the local shops here are at $90 to $120 hr, so if the work is actually done properly, you can see $400 is pretty much bang on. We've gone the cheaper route on our trailer, and they missed several major problems ( because they didn't actually do the work )

 

[flyingcow]

Well the local shops here are at $90 to $120 hr, so if the work is actually done properly, you can see $400 is pretty much bang on. We've gone the cheaper route on our trailer, and they missed several major problems ( because they didn't actually do the work )

I know it'll vary from state to state on rates for the actual sticker, but 1 hour per unit is more than adequate for a commercial inspection. Been owner operator for 20 yrs. Gone thru alot of DOT inspections, get an occasional hose chaffing. But that's only happened a couple of times. Have a clean history with the Fed's and state. Not posting this to be argumentative, just offering my experience. Also, do my own service, i pretty much know my rig. But they do find a problem from time to time.

Also, i don't know about "hot shotting", but in my business i have to carry a million liabilty plus an umbrella for another million. Big thing is to operate by the letter of the law, or as close as you can, because if you have an accident and you're at fault, a couple of mill won't go far in a fatal.