And wait... forget the basic 750,000 minimum coverage limit now. You must buy 5 millions in coverage this year if approved final in FMCSA, DOT etc.
I bought a tractor a very long time ago when I signed that dotted paper. I was told the insurance on a million was to be about 8000 dollars on top of all the rest of the costs for that first year. Fortunately the Owner who sold me that damn thing tore up the entire papers in about two days when he realized that like any good rube I go into business on nothing. So he did me a favor.
I thought I was being clever. New driver two years experience, no one will hire me OTR... So I will go 1099 and be a company myself. One truck today 20 in 5 years etc.
I dont know what 5 millions in coverage would be for one truck, probably in the realm of 25000 a year premium give or take if not more. If I can present virgin blood on bed sheets the next morning after being shafted by the insurance agent the previous night.
Knight is one of 15 trucking companies working together outside of DAC etc. So it goes without saying if you can paint Knight into a corner to pay up (And how...) you will instantly improve your cash from the other 14 who will fall in line and pay up too.
Half of them will cease to exist by summer. Theres no money in it.
Not with hiring flip flop wearing towel heads at 25 cents a mile and three to a truck. Serves you right.