Trucking factoring, insurance & compliance FAQ

New-authority pricing depends on equipment value, commodities hauled, radius, driver records and required limits. Most new owner-operators need $1,000,000 primary liability plus cargo. Call 833-762-3464 for an itemized quote instead of a ballpark.

Yes. The FMCSA requires an active insurance policy plus a BOC-3 filing before your operating authority becomes active. QP coordinates both so your MC number goes live without a second vendor in the loop.

Often, yes. We work with multiple carriers and can usually place risks that standard markets decline, including violations, accidents or lapses — though pricing reflects the record.

Bobtail coverage protects your tractor when it is not pulling a trailer; non-trucking liability (sometimes called NTL) covers you while driving without a load under someone else's authority. Owner-operators leasing to a carrier usually need NTL.

Yes. We place cargo limits for general freight, reefer, flatbed and specialty commodities, including higher limits some brokers require for electronics, produce or hazmat-adjacent loads.

Complete the quote form on this page or call 833-762-3464. Have your equipment details, radius of operation, driver list and any loss runs ready and we can shop markets the same day.

QP charges $60 for a standard BOC-3 filing, or $40 for factoring clients using our promo code. The price includes submission and confirmation — no separate process agent invoice each month.

Yes. The FMCSA will not activate your operating authority until a BOC-3 designation is on file along with proof of insurance. It is a mandatory federal requirement for motor carriers and freight forwarders.

Form 2290 is the IRS Heavy Highway Vehicle Use Tax return. It must be filed for vehicles with a taxable gross weight of 55,000 lbs or more that are used on public highways — including commercial tractor-trailers, dumps, mixers and buses.

The tax year runs July 1 to June 30, and returns are due by the last day of the month following the month the vehicle was first used. Most carriers file between August and October, and vehicles first used later in the year are filed on a partial-year basis.

The International Registration Plan allows one registration plate and cab card to cover interstate operation in multiple jurisdictions. Any commercial vehicle that travels in more than one jurisdiction and exceeds the weight thresholds needs IRP apportioned plates.

IFTA is the International Fuel Tax Agreement — a system that lets one base jurisdiction collect and distribute fuel tax for all member states and provinces. Carriers operating qualified vehicles in more than one jurisdiction need an IFTA license and quarterly filings.

QP charges $150 for new IFTA registration ($100 with promo code), $60 per quarterly filing ($40 with promo code) and $100 for the annual renewal ($70 with promo code). Factoring clients receive the discounted rates.

The Unified Carrier Registration program is a federally mandated, state-administered registration for interstate carriers, brokers, freight forwarders and leasing companies. If you operate interstate commercial vehicles, you need UCR every year.

The MCS-150 is the Motor Carrier Identification Report used to register for a USDOT number and to update the FMCSA on changes to your business — including name, address, mileage, commodities, drivers and power units.

A Standard Carrier Alpha Code is a unique identifier issued to transportation companies by the NMFTA. You need one to haul intermodal, drayage or government freight, and many larger shippers require it during carrier onboarding.

It is an organized set of the documents that prove your trucking company is legal and compliant — authority, insurance, registrations, driver files and safety records. Inspectors, auditors, brokers and insurers all ask for the same materials, and a binder lets you produce them instantly.

Yes. If you hold your own operating authority — even as a one-truck owner-operator — you must maintain a compliant drug and alcohol testing program and be enrolled in a random testing pool, which a consortium provides.

QP charges $135 for consortium enrollment, or $100 for factoring clients with a promo code. Individual test collection fees are billed by the consortium when testing occurs.

Most interstate CMV drivers required to keep records of duty status must use a registered ELD under the FMCSA electronic logging device rule. Limited exceptions exist, such as short-haul operations and pre-2000 engines — we'll confirm which applies to you.