What Do I Need To Start Driving After I Get My Own Authority

An operating authority permits owner-operators to haul freight as a registered trucking company. However, before hitting the road, you’ll have to prepare your insurance policy, USDOT and MC number, employer identification number (EIN), Heavy Vehicle Use Taxes, International Fuel Tax Agreement (IFTA) account, and Unified Carrier Registration (UCR).

Preparing Everything You Need to Drive Under Your Own Authority

Getting approved for an operating authority feels exciting, but prematurely starting operations will only compromise your business. Do the necessary preparations first. Here are some of the documents and paperwork truckers need to prepare before hauling under their own authority:

• Insurance Policy: Note that your commercial truck insurance coverage depends on your operating authority type.
• USDOT and MC Number: The FMCSA should release your USDOT and MC numbers upon application approval.
• International Fuel Tax Agreement (IFTA): Interstate truckers have to file fuel use taxes.
• Employer Identification Number (EIN): Employers need an EIN whether or not they have an employee already.
• Heavy Vehicle Use Taxes: Heavy vehicles exceeding 55,000 pounds need to pay an annual fee to operate on public highways. 
• Unified Carrier Registration (UCR): The UCR verifies that your trucking business has the necessary state-mandated insurance coverages.

After fulfilling the requirements set by the FMCSA, focus on the business aspects of your new trucking company. Owner-operators are responsible for all operations. Apart from hauling freight, you’ll also have to calculate profit margins, file taxes, manage funding, maintain commercial trucks, and address business emergencies.

Are you having trouble finding an insurer that accepts new trucking companies? Assured Standard has you covered. Check out our brief piece on insurance providers that accommodate new owner-operators.