There are only two types of authority, contract and common. The feds no longer make a distinction between the two, so I understand. Common is the most prevalent. It doesn't make any difference whether you do hot shot or class 8 trucks, you have the same authority. Most brokers and shippers require $1MM liability and $100M cargo. Rates on insurance can vary widely. I have been getting better rates from Northland, but the last couple of years they have hit me with major increases and I have had no claims, accidents or tickets and have an excellent safety record. I decided to not renew with them this year. Northland seems to have better rates for the single owner operator. In my case, I have drivers. I have found another company that I may go with who is much less expensive. A friend of mine received a discount from Northland this year. Where you live and run has an impact on your rates. I have spoken to some who have gotten better rates with Great West, although they have always quoted me a higher rate. I suggest getting with one or more brokers and have them shop it for you. I had one broker that told me that there are 18-25 commercial insurance companies who write this type of insurance. Most brokers only represent a few insurance companies. It pays to shop around, even with brokers.
You will need process agents for every state in which you do business. There are services who will do this for an annual fee. OOIDA offers this service at no charge to members.
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