Freight Brokerage Insurance
Freight Broker Insurance Needs
A freight broker is a person, firm, or corporation that arranges transportation of commodities for a fee.
Truck and freight brokerage operations need coverage for the exposures presented when their clients’ policies fail to respond.
Coverages
is a type of surety bond that freight brokers must obtain to get or renew a license. The freight broker surety bond requirement exists to help establish credibility and prevent fraud or failure to pay motor carriers or shippers in a timely manner.
covers damages resulting from auto liability that may arise on a contingent basis. That is, it will cover the transportation broker if the carrier’s primary auto liability coverage fails to cover a claim.
covers bodily injury or property damage resulting from the ownership maintenance and use of a carrier’s auto arising out of and emanating from the insured’s operations as a transportation broker.
is designed to cover the freight broker on a contingent basis for cargo damage or loss. This is not excess coverage over a motor carrier’s primary cargo.
protects your company from third-party financial loss as a result of your potential negligence in performing duties as a logistics provider. This does not respond to Cargo claims or Bodily Injury / Property Damage claims.
Your Trusted Advisor
In the Transportation Industry
Chris Denman
Managing Director - Transportation
Toledo
