HERO Maker Posted April 18, 2017 Report Share Posted April 18, 2017 I talked with Chris today from C&C. Real nice lady, but as soon as I mentioned the owner of the truck and trailer is HERO Makers, she said she would not be able to do a commercial policy. I didn't challenge her on this, but what kind of policy would she write for a LLC? She understood that this rig was not being used for commercial business. So what say you guys with the LLCs? Limited Liability Corporation vs HERO Makers Corporation! Both being non commercial!!!!! Expecting to hear from Miller in the next two days. No rush, I told her. I'm on my way to the Rally and will be driving for two days. We'll see! Quote Rocky & Sheri Rhoades '01 Volvo 770 2016 DRV Mobile Suites, HoustonHERO Makers Ministry Link to comment Share on other sites More sharing options...
GeorgiaHybrid Posted April 18, 2017 Report Share Posted April 18, 2017 (edited) Rocky, There is a BIG difference between a LLC (Limited Liability Company ) and a corporation (standard "C" corp. or sub chapter "S") A LLC is a hybrid that is basically a partnership or sole proprietorship that has the benefits of a corporation concerning liability. A Corporation on the other hand is just like a person. It can enter into contracts just like a person and has much stricter regulations concerning reporting to the states and feds (officers, minutes of meeting, etc.) and is liable for things that happen in the corporations name. They also issue stock (private or public) that can be sold or traded as needed. Your truck is owned by a corporation and as far as the law is concerned, it is just like a person owning the truck. If anything happened while driving your truck, the corporation can be sued in court but the officers of the corporation can't be sued unless the other side can prove negligence or fraud. That makes it a commercial truck whether it is used in a commercial venture or not. Edited April 18, 2017 by GeorgiaHybrid Quote 2017 Kenworth T6802015 DRV 38RSSA Elite Suites2016 Smart Prime Link to comment Share on other sites More sharing options...
HERO Maker Posted April 25, 2017 Report Share Posted April 25, 2017 Dave, I agree with you why the liability is the same under LLC and a Corp. But why the different costs in Insurance when quoting for the same thing? But if a Corp. is an "individual" by law, and I am an individual by law, where is the huge discrepancy? By the way - good talk this morning! Quote Rocky & Sheri Rhoades '01 Volvo 770 2016 DRV Mobile Suites, HoustonHERO Makers Ministry Link to comment Share on other sites More sharing options...
GlennWest Posted June 20, 2019 Report Share Posted June 20, 2019 1 hour ago, brainstorm21 said: But how much do you pay for your policy? And does it have an easy registration? If the answer is no, then there is no good information for me. Personally I thought you're speaking about courier insurance, but you said nothing definitely... For example I can definitely say that Cheap Courier Insurance is the cheapest ad safest insurance for those who are the couriers. I'm a courier and use the services of that company for 2 years and quite happy by this fact, because once I had an accident and the delivered item was broken, but the company covered all the expenditures on my car repairment and paid the item owner the moral damage. You do realize this is a 2 year old post Quote 2003 Teton Grand Freedom towed with 2006 Freightliner Century 120 across the beautiful USA welding pipe.https://photos.app.goo.gl/O32ZjgzSzgK7LAyt1 Link to comment Share on other sites More sharing options...
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