Landstar Settlement Deductions
$ 106.11 - Plates and Permits/ weekly, 18 weeks only, starts week 5
$ 32.00 - Occupational Accidental Insurance / weekly, amounts may vary
$ 18.99 - Bobtail / Unladed Insurance / weekly, amounts may vary
$ 28.00 - Electronic Logging Device Airtime / monthly
$ 25.00 - Fuel taxes / monthly (estimated)
$ 3.69 - Landstar Communications Network / weekly, which provides Landstar owner-operators / BCOs access to Landstar’s Load Board and Automatic Load Update programs.
In summary, during the 18 week period when Plates and Permits expenses are being deducted, budget approx. $930.00 per month for settlement deductions. After Plates and Permits are paid, budget approx. $470.00 per month.
Electronic Logging Device (ELD) requirements
All new Landstar owner-operators are required to have an ELD (Electronic Logging Device) in their truck.
New Landstar owner-operators must be able to install the ELD, and it must transmit to Landstar or the tractor will not be approved.
ONLY Keep Trucking and Omni Tracs ELDs are approved by Landstar:
Keep Trucking device can be purchased for $200.00 and the owner-operator must install their own tablet or phone and mount for the DOT officers to see.
Omni Tracs IVG for trucks 2015 or older are $759.00 and need to be mounted in the truck. Landstar will install at orientation.
Omni Tracs IVG for trucks 2016 or newer are $809.00 and need to be mounted in the truck. Landstar will install at orientation.
Landstar will fund ELD out of settlement deductions for several weeks.
Costs not Included in Landstar Settlement Deductions
Other costs to include in your budget:
2290 Highway Use Tax, $ 550.00 paid annually
Physical Damage Insurance
How to calculate monthly insurance premiums, as of July 31, 2019:
$500 deductible: Tractor Value x 0.005
$1000 deductible: Tractor Value x 0.0046
$2500 deductible: Tractor Value x 0.004
Cell Phone / Internet Service and Equipment
Tractor / Trailer Loan Payments
Tractor Maintenance Fund
Seal and Lock Program
Vans: “Warlock” or “Enforcer” lock kit. Includes locks for trailer, kingpin, and air cuffs. Cost is $125.00, which is deducted at $25.00 per week for five weeks.
Platform trailers require air cuff lock, and monthly deductions for Enforcer and Warlock locks are $35.00 and $45.00 respectively, deducted for five weeks.
Landstar Helps Reduce Operating Costs
Fuel Surcharges: Landstar passes back 100% of all billed fuel surcharges to its drivers, which amounts to hundreds of millions of dollars annually.
Education: Landstar continually educates its drivers on many topics that can help reduce your operating costs and improve revenue.
Landstar Contractors Advantage Purchasing Program (LCAPP)
Discounts: Discounts on fuel, tires, equipment, services, and more through the Landstar Contractors Advantage Purchasing Program (LCAPP) help Landstar owner operators / BCOs reduce the cost of doing business and increase their bottom line. Click here to learn more about LCAPP.
Success as a Landstar Owner-Operator
Success involves accurate, realistic budgeting and business alliances you can count on. The turnover rate at large truckload carriers is currently 91% (Source: ATA Chief Economist Bob Costello) and Landstar’s turnover rate in 2015 was less than 25%. This statistic alone speaks to the unsurpassed owner-operator experience and revenue opportunity Landstar has to offer.
Landstar drivers are the CEOs of their businesses, making all the decisions regarding their operation. They schedule when, where and how they run.
Give us a Call
Call 913-341-5858 to speak with a Landstar Recruiter about your situation and goals.