To obtain you Interstate Operating Authority you must have proof that you have the minimum levels of financial responsibility. This proof of "minimum levels of financial responsibility", insurance or surety bond, will need to be filed with the FMCSA and also the base state that you file your Single State Registration with. These filings will be done by your insurance company for you. The minimum levels of insurance for each type of authority are:
Common Carrier of Property (Non Hazmat) Liability $750,000
(10,001 lbs + GVWR) Cargo $10,000
Contract Carrier of Property (Non Hazmat) Liability $750,000
(10,001 lbs + GVWR) Cargo no filing required
Common or Contract Passenger Carriers Liability $5,000,000
(16 + Passengers)
Common or Contract Passenger Carriers Liability $1,500,000
(15 or Less Passengers)
Freight Forwarders Liability $750,000
Cargo $10,000
Freight Brokers Surety Bond or Trust Fund $10,000
These are only the minimum requirements imposed by the federal government. We suggest that you start shopping for insurance immediately as this could take a little time to find the right broker or agent for your business. The name of the insured on your insurance policy will need to match exactly the name used for your filings. You will also need to have your MC # and your USDOT #for your insurance agent to bind coverage.
Most brokers and shippers will require you to carry a minimum of $1,000,000 Liabilty coverage and $100,000 cargo coverage. This requirement is for both Common and Contract Motor Carriers.
We can have your MC # to you the same day, if your order is received by 5:00 pm EST Mon-Fri. If you have any questions, please see our contact page to phone, e-mail or fax us.
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