Business Insurance for Freight Brokers is Essential
As a licensed freight broker you’re counting on the work of others to be successful. You’ve developed a certain amount of trust from your shippers and you rely on them to get the job done. But if one of your shippers fails to deliver your client’s shipment in a safe and efficient matter, you best hope you’ve taken the necessary steps to ensure you don’t get railroaded in a legal dispute. Granted, your shipper is required to purchase freight insurance, but business insurance for freight brokers is vital as well. What if the shipping company you use lets its coverage lapse? What if your customer’s shipment arrives late or never makes it to its destination at all? Purchasing a freight insurance policy or surety bond) will pay your customer if you fail to complete your contractual duties. It goes without saying: business insurance for freight brokers can save you from financial hardship if by chance your smooth-running operation hits a bump in the road.
Frets Without Freight Insurance
Whether you’ve been a freight broker for years or are just starting your business, it’s imperative you purchase freight insurance to run your business as you don’t want to carry the burden of paying out of pocket when adverse situations arise. For example, if your office experiences burst pipes caused by a winter storm, a standard business insurance policy will provide coverage. Without this important coverage you could be responsible for thousands of dollars in repairs, especially if there is extended water damage.
If winter weather or some other type of natural disaster should cause physical damage to your business’s physical structure, you can rest easy if you purchased business income freight insurance. This valuable insurance helps business owners recuperate lost income while reparations are underway and their company is inoperable. Be sure your business income insurance covers more than a few days. Vice president with the Insurance Information Institute says, “After a major disaster, it can take more time than many people anticipate to get a business back on track. There is generally a 48-hour waiting period before business interruption coverage kicks in.”
Compare the Costs
In order to get the best business insurance for freight brokers, it makes sense to do your homework. While many companies offer a variety of plans that will fit a broker’s freight insurance needs, the best way to find affordable business insurance for freight brokers is to shop around. You can talk for hours with freight insurance companies explaining your business insurance needs or you can let NetQuote do the work for you. NetQuote specializes in finding business insurance for freight brokers. Just fill out one form and you will get the answers you’re looking for. Our free service will get you several quotes from competing companies and send them directly to your computer, allowing you to get back to business more quickly.
See how much you could save today on your insurance. Get your free business insurance quotes today!