Insurance coverage for truck brokers and other trucking companies may be required by state laws or contracts. You may need proof of insurance to work with a shipper or motor carrier, or they may ask you to list them as an additional insured. Maintaining coverage is in the shipper's interest and yours as well, as it can pay for costly lawsuits and accidents.
These insurance policies cover common risks for freight brokers.
A general liability policy covers financial losses from third-party accidents, such as trips or falls in a dispatch office or at a location used for motor truck cargo storage.
A BOP is a cost-effective way for freight brokers and forwarders to buy general liability and commercial property insurance together. It protects against common lawsuits and property damage.
Most states require workers' comp for freight trucking businesses with employees. It also covers work-related medical bills for sole proprietors, which personal health insurance could deny.
Commercial auto insurance covers legal defense costs if a trucker is involved in an accident. Each state has its own requirements for auto liability coverage.
It's easy to get business insurance and surety bonds for freight brokers and freight forwarders if you have your company information on hand. Our application will ask for basic facts about your business, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
Insureon's licensed insurance agents will help you find the right policies for your freight brokerage, such as professional liability insurance, cargo insurance, contingent auto liability insurance, workers’ compensation, or coverage for any other exposures.