Setting up company trucking as a separate entity. I have Questions

[rladner]

My company is seeing rising insurance cost like most people. The part of the company that seems to be driving the huge increases is the trucking piece. I was thinking about setting up a separate entity to put all the trucks under. My questions are: 1) Has anyone done this? if so, can we speak? 2) Does it really insulate the rest of the company from higher insurance rates? ie lower liability and umbrella policies? 3) what are the down sides?

I know nothing about this yet, just starting my research. What better place than to start here

[Dale Moser]

I looked into it late last year, but havnt pulled the trigger yet. I’ll PM you.

[rladner]

I looked into it late last year, but havnt pulled the trigger yet. I’ll PM you.

Thanks Dale

[CodyMack2]

My trucking insurance is thru the roof right now and as of today I do not have anything in place with my current carrier declining to write coverage after the 31st. So far, I have bids of $43k, $66k and $111k. I can't see a scenario that will allow me to raise prices enough to cover the excessive premiums, this is my 3rd source of income that turned into a decent business but I am gonna have to shut it down or raise prices considerably or buy more trucks and go all in. I am using 4 different brokers trying to find a better deal, there are lots of ways to play with the liability minimums that affect the price.