acme66
New member
- 349
- 8
- 0
- Location
- Plains, Montana
Well we have been moving forward on my idea to offer historical mining tours from an M923. Just dropped the down payment in the mail to SS member Uamakua for his Colorado housed 1984 A1. Looks like a beautiful truck and I have the piece of mind that comes from it being privately owned and inspected rather than GL lot fresh when it comes to that 1000 mile drive home. After reading your horror stories my wife and I decided it was best to pay more for a proven truck on good rubber than try to risk a roll of the dice to save a buck. I will update road trip adventures upon my return. Might need to compile a list of willing members numbers between Denver Colorado and Missoula Montana just in case.
The insurance issue seems to be sorting itself out. I discovered if we created a Limited Liability Corporation then I would not have to hold liability insurance. We will only need a robust commercial policy of around $2000/year. $2000 was my monthly go/nogo point (seasonal, $2000/mo for three months or $6000 a year in insurance) I am pleased, 1/3 of my break point profit estimate AND I can use the truck for essentially whatever I would like the rest of the time. With the Limited Liability Corporation, except in cases of gross negligence, (knowingly running with bad brakes, tires or what-have-you) only the company is held financially responsible for catastrophe. The commercial insurance will cover slips,falls, property damage and that sort of thing. Absolute worst case (think that Arizona tour company's deuce turning turtle bad) we could lose the business and it's assets but not our house. For our low speed, low impact business plan risking essentially just the truck and year's profits against 'act of God' level accidents seems secure enough. My financial/insurance advisers seem to think so anyway.
When we are up and operational I will naturally be handing out Steel Soldiers member discount cards.
-Ken
The insurance issue seems to be sorting itself out. I discovered if we created a Limited Liability Corporation then I would not have to hold liability insurance. We will only need a robust commercial policy of around $2000/year. $2000 was my monthly go/nogo point (seasonal, $2000/mo for three months or $6000 a year in insurance) I am pleased, 1/3 of my break point profit estimate AND I can use the truck for essentially whatever I would like the rest of the time. With the Limited Liability Corporation, except in cases of gross negligence, (knowingly running with bad brakes, tires or what-have-you) only the company is held financially responsible for catastrophe. The commercial insurance will cover slips,falls, property damage and that sort of thing. Absolute worst case (think that Arizona tour company's deuce turning turtle bad) we could lose the business and it's assets but not our house. For our low speed, low impact business plan risking essentially just the truck and year's profits against 'act of God' level accidents seems secure enough. My financial/insurance advisers seem to think so anyway.
When we are up and operational I will naturally be handing out Steel Soldiers member discount cards.
-Ken
