Contingent Cargo Liability Insurance

Discussion in 'Freight Broker Forum' started by diamondfreight706, Apr 16, 2019.

  1. diamondfreight706

    diamondfreight706 Bobtail Member

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    Dec 10, 2018
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    Hi Everyone,

    I'm getting my freight broker business set up . Can anyone suggest a good company to get my contingent cargo insurance ? How much coverage should I ask for ? I want to be safe than sorry. Thanks a bunch.
     
  2. Ag1988

    Ag1988 Bobtail Member

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    Nov 14, 2016
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    for a freight brokerage you only need the mc dot boc3 UCR and a surety bond, cargo coverage are for carriers not brokers
     
  3. Proxy

    Proxy Light Load Member

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    Sep 3, 2018
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    This is correct, Pacific Surety was the best the rate I have seen for surety bonds if you are looking
     
  4. AaronP

    AaronP Bobtail Member

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    Feb 5, 2019
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    While you don't NEED contingent coverage, you had better spend a lot of attention to your carrier partners' insurance ratings/certifications because if you don't have contingency, and the carrier insurance only partially pays, then there could be a shortfall that needs to be dealt with.
     
    MikeyStyles and Midwest Trucker Thank this.
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