Question
We are doing a lease/purchase of a truck with the company my husband is leased onto. We are also renting a trailer from this company too. Everything is insured thru the company of course. We are now going to buy a trailer instead of renting one. We don't have our own authority. The trailer will be put in our name. Can his company still carry insurance on this trailer? Also since we don't have our own authority, will we have to pay taxes on the trailer in the state where we will buy the plates? Or will we be able to use the company's MC number?
Answer
Even though you purchase the trailer privately, you may be able to insure it through the company. Your company will in all probably provide your Liability and Cargo, you will need to check on the Physical Damage. If, because you did not purchase the trailer through the company, they will not insure the Physical Damage, you can secure that coverage from a truck insurance agent.
As for the taxes, I suggest you check with your state with regards to their specific requirements.
Answer
I checked with his company and yes they can insure the trailer which is great because I believe this is probably the cheapest rate we will get since they are insuring alot of trailers. I also checked with the courthouse here where we live and they said we would pay taxes, and gave me the rate, unless we had a MC number and then we would be tax exempt. I just didn't know if they meant we personally had to have the MC number or if we can use the MC number of the company that he is leased onto. Thanks for the information.