In the United States and Canada, an owner-operator is a self-employed commercial truck driver or a small business that operates trucks for transporting goods over highways for its customers. A truck driver (Commonly called a trucker, driver or Teamster in the United States and Canada, a truckie or [1]
The Motor Carrier Act of 1980 deregulated the industry and made it easier for manufacturers to set their own prices on shipping goods, and also allowed owner-operators to be more successful by taking some of the control out of the hands of the larger motor carriers. The Motor Carrier Regulatory Reform and Modernization Act, more commonly known as the Motor Carrier Act of 1980 (MCA is a federal law of the United States which deregulated [2] It was now possible to find a carrier willing to haul goods for what customers wanted to pay, rather than what the larger carriers' rates were.
- An owner-operator is free to either haul free-lance (non-committal to any one firm or product), or enter into a lease agreement to dedicate their equipment to one customer or product.
- The owner-operator typically has to pay higher rates on insurance due to smaller size than most larger companies, meaning they have to charge more to balance the cost.
References
Dictionary
owner-operator
-noun
- A subcontractor that can be a commercial carrier, but most often provides capacity (trucks and drivers, with or without trailers or chassis) to either commercial or private carriers under a contract for services.
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