Hotshot trucking: How to start - Overdrive Magazine
When it comes to regulatory requirements, interstate hotshot businesses face many of the same regulations as those of interstate Class 8 haulers. It’s possible to lease your hotshot to a larger entity, particularly if you’re in an area with a lot of oil drilling, but most hotshot businesses operate with their own motor carrier authority, requiring well less than $1,000 for federal and state... The biggest initial cost, unless you’re leased, is buying at least $750,000 worth of primary liability insurance coverage, a requirement to run interstate. Unless you’re able to lease to a business, you’ll need your U. S. Department of Transportation motor carrier authority and all that entails, including that primary commercial auto liability insurance, membership in a drug and alcohol testing... You’ll need only to file via your BOC3 Process Agent in the states where you’ll be doing business. Like the IFTA requirement, a commercial driver’s license is necessary for combination haulers using typical hotshot pickups only if the plated GCWR exceeds 26,000 pounds. For more specifics business start-up, read our January 2014 guide to running an independent owner-operator business, including a guide to establishing authority and getting the business up and running. Source: www.overdriveonline.com
