If for some reason a scenario like this did happen I guarantee Lawyers were going to go after Everyone Involved.

 

I would like to get some qoutes on insurance, considering I only own the trailer what would you guys suggest as a minimum. I know I need liability insurance, but what else do you suggest.

 

It is the responsibility of who has the authority to provide the liability insurance. I am not sure you can get liability on a trailer without having authority. I suggest calling OOIDA and talk to their insurance department, and perhaps their business services department. They are a good resource. They offer competitively priced insurance for 18 wheelers. Perhaps they know of a supplemental policy that you can buy. You can specify in your lease who is responsible for maintenance, insurance, etc., You can also make sure that they bring it by for you to inspect on a periodic basis, if you want. You could also set the lease up where you take care of the maintenance yourself. That way you will make sure the maintenance is done when needed.

 

Just remember that it costs $$$$$$$$$ over and over to keep your truck out of trouble.
and start up repair could be considerable.(to avoid liability problems)
especially when you plan to rent it.
Make sure you consider this when you "work the numbers"
(also if a guy has a "rental" don't expect him to use his tractor brakes)

 

You know what, going into court and pointing to the driver is going to make you look really bad. The only way you could win something like this is if you and the driver stood together, and tried to point out that it was something freak that neither of you could've done anything about.

For example, what if somebody had the hub apart, put in new bearings/races/seals, and set the wheel bearing wrong? You or your driver have absolutely no way in checking how tight the bearing is, and you probably wouldn't know how either. Hell, the DOT wont even check something like that.

 

Thanks, Gman- so I guess all I need is physical damage insurance and maybe a supplemental liability plan if offered, correct?

 

All you really need is collision insurance. You could add the cost to the rental and pass the cost along to the leasee.

 

sorry for the basic questions, but just trying to learn before I jump in. Now, will the carriers cargo insurance cover a load if the unit takes a crap and the load spoils. The reason I ask is I am planning to maintain the unit.

 

good question

reefer loads can be VERY expensive eg a 40# box of frozen lobster is $500
there are tattle tale thermometers on a lot of loads if the unit cannot hold temp the whole load can be refused ( that freaking lobster better read at least 0 and on the fourth of July)(there is very little fluctuation allowed with produce thats why I dont haul it I dont want a claim)
but if there is a claim or refusal.......guess what
my deductable for breakdown insurance is $2,500 with ooida and it has to be inspected by a certified mech every 30 days which sucks

there are a lot of things that can go wrong with a reefer
thats why I only run mine 2 days a week and look for dry loads the rest
belts(wait til you see the crazy Carrier set up)
clutch
motor mounts ( a loose mtr mount will shake your lines to breaking point)
wiped out "o" rings from low sulfur fuel
unable to hold temp in very hot weather
fan hub
running hot
low freon
no freon will wipe out a very expensive compressor.
and the load

Beware
You are entering the big leagues.

Just imagine that you are the one leasing the reefer
and it breaks down
with 40,000# of frozen shrimp.

I would suggest a 1 mil umbrella policy on your house.

 

Thanks for the info Sonny. The unit will be ran somewhat the same as yours. Eg: Load of produce, flowers, etc from Florida to somewhere north-then dry load back to Florida. whats the deal with the umbrella on the house. Never heard of this-why do I need it and whats the cost. Thanks