Insurance basics: Becoming an owner-operator

It takes a great deal of confidence and a little bit of know-how to become an owner-operator. Ditching the fleet life for a sweet life on your own can be liberating for drivers possessing an autonomous mindset. But traversing the freight landscape solo has its own set of challenges, too. 

In fact, being at the helm of your own operation can also be overwhelming for those not quite sure where to start, especially when it comes to insurance.

Jordan Chastain, Reliance Partners’ senior vice president...

https://www.freightwaves.com/news/insurance-basics-becoming-an-owner-operator

How a $1.25 million insurance liability hike may affect owner-operators

Owner-operator insurance costs increasing

A push by lawmakers to raise truck liability insurance for the first time in 40 years has advanced further than ever in Congress and the resulting rate increases would hit small trucking companies the hardest, according to an insurance expert.

The provision included in the Moving Forward Act, which the U.S. House of Representatives passed on July 1, raises the minimum coverage level for general freight from $750,000 per accident to $2 million. It would be adjusted every five years to account for...

https://www.freightwaves.com/news/how-a-1-25-million-insurance-liability-hike-may-affect-owner-operators