Insurance For Freight Brokers And Forwarders

What type of insurance do I need for my business?

Most Freight brokers and forwarder businesses have a Business Owner's Policy called a BOP. A BOP is a great becasue it combines three general insurance coverages and saves you money.

We recommend these products as a base:

• Business Owners Policy: A business owner's policy bundles three important types of business insurance — general liability insurance, commercial property insurance and business interruption insurance — into one policy.
• General Liability Insurance: Your small business can be protected from unexpected expenses in different situations, such as workplace injuries or client lawsuits, through business liability coverage.
• Professional Liability Insurance: E&O insurance, alternatively referred to as Professional Liability Insurance, provides coverage for legal expenses in the event that a client alleges your work to be erroneous, delayed, or undelivered.

How Much Does Freight Brokers And Forwarders Insurance Cost?

• The size of your business
• How many employees work for you
• If you keep customers information stored in a data system
• If you have trucks or vehicles or tow equipment

Your Freight brokers and forwarder business may also need other types of business insurance, like:

• Commercial Auto Insurance: Commercial auto insurance insures your vehicles for physical damage and liability coverages for amounts, situations, and usage not covered by a personal auto policy.
• Commercial Umbrella Insurance: Commercial liability umbrella insurance boosts the limits of general liability insurance, commercial auto insurance, and employer's liability insurance to protect against the most expensive kinds of lawsuits.
• Cyber Insurance: Cyber insurance, known as cybersecurity insurance or cyber liability insurance, provides coverage for the potential losses a business may experience due to a data breach or cyber attack.
• Workers Comp Insurance: Workers' compensation coverage guarantees the safeguarding of your business and employees by providing employee rehabilitation and death benefits in the event of any workplace injury or illness suffered by your staff members.

Similar professions and Freight Brokers And Forwarders business insurance?

• Freight brokers and forwarders
• Owner-operators
• Towing