Just got a letter stating that I need to obtain "insurance (liability: form BMC-91 or BMC-91x)".
Question is this, is just having insurance enough to fill this need or do I need to fill out some sort of paperwork as well? I came across this page http://www.fmcsa.dot.gov/registration-licensing/licensing/registr.htm and there's a spot that says freight insurance of anywhere between $750k and $5M is required. If I am currently only hauling aggregates locally with no freight insurance requirements do I still need to get this coverage to keep my authority from being cancelled? I was planning on waiting to get that coverage until I started with the flatbed stuff but if I'm reading this right I may not have this option... Anyone have any input?
Question: BMC-91?
Discussion in 'Ask An Owner Operator' started by Wildcat74, Jun 4, 2011.
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Call up an insurance broker....Uh, google "Coast Transport"......they'll help you out....
They specialize in dumps...But I still use them..... -
I've just got a dump now myself, looking into the flat and van stuff for the future though.
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I read somewhere that aggregates and such were exempt commodities therefore don't require an MC nmuber. I can't find it now and I'm sure there were other stipulations.
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Your insurance underwriter files the BMC-91 with FMCSA. All that's needed is $750,000 minimum liability, freight (or cargo) insurance is not mandatory, but brokers usually require $100,000 minimum. Direct shippers may require more.
Once your insurance policy is valid, your agent will provide you with as many Acord Certificates as you need:
http://www.ua.edu/financial/riskmgmt/forms/sample-certificate-of-liability-ins.doc -
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Vang is spot on
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