Is Your Insurance Built for Your Freight Brokerage Business?

Freight Broker Liability:

Business insurance is anything but one size fits all, no matter what it sounds like when you’re perusing general liability policies. The fact is, those are meant to start covering your basic risks common to businesses, they aren’t designed to be a comprehensive risk management plan for a business. You need to work with people who know your business, and who understand freight broker liability and the coverage options that will make sure you’re not exposed in the event of an accident or bad faith action by one of your employees or contractors.

What Liabilities Do Freight Brokers Have?

In addition to general liability, your business needs to have the right coverage to keep you protected against third-party liabilities unique to your industry, like damage to cargo or vehicles in the event of an accident that involves your vehicles or staff. There’s also E&O to consider, which is needed by many businesses in addition to general liability. For more information about the specific needs freight brokerage companies have when it comes to insurance, make sure to check out the excellent coverage breakdown on this topic provided by American Team Managers in their resource primer on the subject, and then start working on making sure your business has complete, up to date coverage.