Whether you own and operate heavy vehicles or specialize in transportation load/freight brokerage, your transport logistics require customized insurance. Your operations transfer a sizeable portion of the liability to the freight broker. Complete coverage is highly recommended in keeping with the following four elements:
Contingent Cargo Liability
Your contingent cargo coverage will kick in if the primary coverage of the sub-contractor to whom you brokered the load declines or refuses a potential claim. This could happen if the carrier’s policy is inactive or the certificate fraudulent. The contingent cargo liability policy includes investigation, indemnity, and defense for an eligible claim.
Commercial General Liability
Commercial General Liability insurance is required to cover your freight brokerage operations, protecting your business against property damage or bodily injury claims caused to a third party and attributed to your business activities, lines of work, products and services.
Automobile Insurance QPF #6 (non-owned form)
The QPF #6 insurance policy is essential protection for your freight brokerage operations. The definition clearly outlines the extent of its coverage:
The insurer agrees to indemnify the insured, the insured’s succession or legal representatives against the pecuniary consequences of civil liability the insured may incur for loss or damage arising from the use or operation in the business described in the Declarations of any automobile not owned by or registered in the name of the insured and resulting from bodily injury to or death of others not in the care, custody or control of the insured.
This coverage could, for example, be activated if the sub-contractor’s automobile liability is insufficient to cover a claim.
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