Freight Broker Insurance Company

When it comes to protecting Freight Brokers very few insurers offer all of the different lines of insurance that a domestic freight broker needsThis is why LOGISTIQ Insurance Solutions a GSIS Company developed Broker Shield. What Is Freight Insurance.

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Many Freight Brokers also opt to purchase Vicarious Liability and Contingent Cargo Insurance both of which can provide additional coverages to help fill in the gaps of coverage that your other policies may have.

Freight broker insurance company. A freight broker is essentially the middleman between a shipper and a carrier. With the evolving landscape of freight broker exposure freight broker insurance is becoming. Brokers can also mitigate risk by requiring motor carriers to have the right insurance and by checking to make certain that the motor carrier actually buys the right insurance.

Sometimes called Contingent Auto Liability insurance or Freight Broker Auto Liability Coverage this coverage may provide defense costs from first dollar plus any judgment levied when a freight broker is named as one of the defendants in a lawsuit related to bodily injury or fatality claims when motor carriers they contract with are involved in accidents and third parties are injured or killed. 8302017 Freight Broker Insurance Working with a freight broker will be a common occurrence if you own or run a shipping company. Workers Comp for Freight Brokers is often very inexpensive as the employees are clerical or sales employees.

We have customized products to suit the needs of each individual 3PL. Contingent auto liability insurance responds to defense costs from 1st dollar plus any judgement levied when a freight broker is named as one of the defendants in a lawsuit related to bodily injury or fatality claims when motor carriers they contract are involved in accidents and third parties are injured or killed. Freight Broker Insurance Reliance Partners is a leader in the freight broker and 3PL marketplace.

In addition customers of freight brokers often expect brokers to be responsible for cargo damage. They are an important part of the process if you want things to run smoothly and are fairly expensive to hire. This experience has given us an insider view and deep understanding of the lack of freight insurance coverage being provided by most of the cargo carriers and the need for specialty full value based freight.

Contingent CargoCo is an easy to use and affordable online tool for freight brokers. Freight forwarder insurance protects your forwarding business from lawsuits with rates as low as 47mo. Freight insurance provides additional protection beyond the default carrier policy.

4212018 Broadly speaking a Certificate of Liability Insurance is a formal reassurance from one potential business partner the trucking company to another the freight broker that in the event of damage or loss there will be no disagreement as to who is legally responsible. FreightGuard Spot Cargo Insurance Program. The blanket amounts may be a flat amount or a sliding scale based on a dollar to pound ratio.

Standard carrier policies tend to only cover blanket amounts and do not adjust according to your freights value. We understand the risk management challenges of operating a freight brokerage in todays marketplace. It is impossible in all states for any company to be an additional insured on another companys workers compensation policy.

Freight brokers are experiencing an increase in claims and lawsuits for both cargo claims and auto accidents especially due to Plaintiffs attorneys seeking more and deeper pockets. 3132013 Cargo insurance covers the carriers legal liability as a transporter of freight. Brokers have special coverage needs because they are acting as freight agents for shippers.

We are a licensed insurance broker agency and our parent company is a cargofreight shipping broker servicing shipments for over 31 years. From A Insurers to offshore insurance companies all lay trust in our verification and tracking service. It is smartly designed to bring together everything a freight broker needs.

Freight brokers feel proud to be associated with us. A broker does not transport freight so there is no benefit. Defense coverage will normally be provided in most policy forms whereby attorney will be assigned by the insurance company to defend the freight brokerforwarder and incur those costs and if found liable respond to the agreed settlement amount up to policy limits.

Get a fast quote and your certificate of insurance now. Brokers can mitigate potential losses by purchasing insurance that covers freight damage property damage and injuries caused by contracted motor carriers. Great West has developed several coverage forms to meet the needs of brokers.

Freight Forwarder Insurance - Cost. Brokers are required to register with the Federal Motor Carrier Safety Adminstration FMCSA and supply evidence of a 75000 surety bond. Professional Customer Service including 247 email support.

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