never asked questions are the worst!

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phantom 309

Guest
If you are going to become an ontario based owner operator,.
you'll starve,.
try alberta,..
Ontario is now a have not province,.many new canadians competing in the marketplace have made it an employers market,.

Just because you are a company driver and do fine,. the moment you become an O/O even for the same company,. your rates, destinations loads will all change,.

Bettter brush up on your mechanical skills,. your diagnostic skills etc,.
putting your faith in a retail repair shop(s) is the quickest way to red ink statements,.

Nick
owner operator for too many years in ontario,.
 
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AntonioS

Member
5
michdave said:
Unless you have great backing and even better credit....wrong time to become one. Sit back and wait to see what happens.....
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Agreed. Todays insurance rates are killing off a lot of the smaller owner ops. According to our broker, the Humboldt tragedy gave insurance companies the excuse to hike rates and premiums.
 
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Whitie

Member
5
I have heard from some friends in the industry trying to get new coverage that insurance companies are now requiring that the owner/director have 3 years driving experience? That sounds odd to me.
 
Igor Galanter

Igor Galanter

Well-Known Member
20
Well, yes rules tighten up now...Some insurance companies living trucking business all together, some placing new restrictions, some just increasing the rates...
From what I know, usually 2nd, 3d and 4th years are more likely the years of driving a truck to collect accident, because going once through all 4 seasons make some drivers relaxed and "experienced"...
 
Jim L

Jim L

Well-Known Member
20
Whitie said:
I have heard from some friends in the industry trying to get new coverage that insurance companies are now requiring that the owner/director have 3 years driving experience? That sounds odd to me.
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Based on the size of the company I would imagine that there could be even more restrictions.

Just imagine an Owner Operator who leaves a carrier to start his own company with one or two trucks - he has no experience of the business side of trucking. You hear about that all the time with dump trucks and tow trucks in Toronto.

The insurance company is like every other business, they want to ensure that the person they are offering business to is going to stay in business long term and not change their mind 3 months in. Insurance should be a long term relationship. Ideally the premiums they make over the years should be in line with the claims they pay out. If I were an insurance company I wouldn't want to take the risk on a company that is new to the industry or has little experience.
 
bubba-one

bubba-one

Site Supporter
15
Musicman, Are you prepared to wear 5 different hats, 1 as maintenance manager, 2 driver, 3 accounting dept, 4 collections dept, 5 sales dept. As with anything, ownership has it's privilege's, but they do come with challenge until you get into a rhythm with cash flow and knowing you truck and the work available.
 
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