What do brokers ask for?

There are companies if u google you will find them you can get your contracts emailed to u print it out sign it scan it then email it straight to the brokers fax so you dont need access to a fax machine all u need is a printer and internet connection.some of the services you can store your signiture and just copy and paste to the contract and email it right to the brokers fax easy peasy.(JUst google email fax service.)

 

Most brokers want to be a "named insured" on your policy which is a whole lot more than verifying your coverage. That being said, there's no reason why the certificate can't be emailed directly from either your insurance company or your insurance broker

 

IMO a broker has no reason to be a named insured on a carriers insurance. Unless you like the idea of a broker being able to file a claim on your insurance without you knowing about it. A proof of insurance certificate should be enough.

 

What do brokers ask for?

It depends on the broker. Some ask for the moon and stars. Some provide the vaselin, others don't.

 

This is correct. A broker should not need to be "Named insured". No way I would allow that.


Landstar also asks for $1mil cargo and if your only carrying $100k (the norm) they will still give you loads but they hit you with a $1.75 per trip charge to increase and cover you. They have some funny name for it...but who cares? Won't loose sleep over $1.75 a trip.
Great West wants to know why I would want $1mil cargo and if they approve me, it would be $6k/yr on top of my normal insurance.

Yea right..

To the OP...6mo is nowhere near enough time to buy a rig and all of the rules and responsibilities that come with it.
But if your hell bent to do that, I wish you the best of luck! - OOIDA is where you need to start.

 

I would never have a broker 'named insured'. Most want to be listed as certificate holders, although a few have accepted a certificate from me without their name on it. Even with Landstar, I only had my insurance co send them a certificate and they accepted it.

 

This is incorrect information. Landstar requires approved carriers to have $1 million general liability and $100,000 cargo. If you don't, they will allow you haul loads on a case by case basis, so long as your safety remains good and your insurance has a B+ or better rating. The $1.75 per trip charge pays for the extra insurance on the load up to the $100,000 should something happen. Essentially, they're helping you for $1.75. Not to bad considering you could be in the hole for $40-50k, donchya think?

The reason they want a copy of your insurance with them as the holder is because you are contractually bound to haul for them and they want to hold the policy. Never had one driver balk at this when I've asked them for it to get them approved.

 

Ralph you naughty boy!

No personal attacks.........

 

Question all you want, just because I lack experience doesn't mean I can't learn. I took OOIDA's webinars on multiple topics including lease agreements, lease purchasing, making a business plan, putting the business plan to work, negotiating with brokers and shippers, and insurance. In the latter they very thoroughly explain why a broker does not need to be a named insured, why you shouldn't make them a named insured, and why having them be a certificate holder is enough.

It seems like every post you make you insist on bashing me personally...I don't know what your problem is but I have yet to see you make a helpful post about much of anything, just complaining and putting other peoples thoughts down. I'm ashamed to share the same name with you. I can only hope Ralph is just a handle and your real name is Jimbob or something.

EDIT: and in my 15 months here I have had 600 more people believe I have made a helpful post than you, chew on that for a bit.