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.