As with any insurance, rates will depend on the amount, the company you are insured with, and you credit rating.
Make sure you read the policy fully, even the small print on the bottom of the page, ask questions as you feel are needed. It wouldn’t hurt to have your attorney review it as well. The better your credit score is the better rate you’ll get, so try and keep it good!
8. Get all the appropriate insurances and other liability coverage for your freight brokerage business
Ok this isn’t the same as the bond, but equally important. You will need to get cargo insurance, truck insurance, general liability insurance, and other coverage as appropriate to your business. You can do this as soon as you are issued your MC number.
This is not only to protect you and you freight brokerage firm, but to protect the clients as well. Most will ask to see proof of this before agreeing to sign on with you. The amount available and the fees will vary, both from your needs and the provider you choose.
