Who asks a freight broker for what
| Who | What they usually want to see |
|---|---|
| Enterprise clients & vendor onboarding | General liability, professional or cyber liability, workers' compensation and often an umbrella |
| Banks, lenders & SBA loans | Property or auto physical damage with the lender as loss payee, and liability proof at closing and every renewal |
| Grant funders & government contracts | General liability, professional and abuse coverage at stated limits, directors and officers, and a crime bond over any funds held |
Each of them wants a certificate, and most want it again at every renewal. A live certificate link from the wallet shows today's coverage to every holder and tells them when it changes.
How to check what you already have
- Professional liability declarations. Claims-made or occurrence, the retroactive date (it should not have moved), the limit per claim and aggregate, the deductible, and whether defence costs sit inside or outside the limit.
- Motor truck cargo. The limit per vehicle, the commodities excluded, theft from an unattended vehicle conditions and reefer breakdown.
- General liability declarations page. Three liability numbers matter: each occurrence, general aggregate and the products–completed operations aggregate. Then the forms list: blanket additional insured, waiver of subrogation and primary and non-contributory wording satisfy every contract; scheduled forms satisfy one.
- Cyber declarations. The headline limit matters less than the sublimits: social engineering, funds-transfer fraud, ransomware and business interruption, plus the regulatory coverage and the panel of breach vendors.
- Bonds. The obligee (board, municipality or owner), the penal sum and the expiry date; a bond is renewed with the licence or the job, not with the policy year.
- Employment practices declarations. Limit and retention, third-party coverage for claims by customers, and whether wage-and-hour claims carry any defence sublimit.
- Crime declarations. Employee theft, forgery, funds-transfer fraud and social engineering each have their own limit; third-party coverage if you work in clients' premises.
- Workers' compensation information page. Item 3.A must list every state you work in, item 4 must carry the right class codes, and the employers' liability limits should meet what contracts ask. Check that the estimated payroll is close to this year's.
What usually goes wrong for freight brokers
- Negligent-selection claims after a carrier's crash, with no broker liability coverage.
- Double brokering and payment fraud through a spoofed carrier email.
- A retroactive date that moved when you switched carriers, cutting off earlier work.
- Contracts with indemnity clauses wider than the policy will support.
- Social engineering (wire fraud) sublimited to a small amount on a cyber policy with a large headline limit.
- Funds-transfer fraud sublimits far below the size of a single wire.
What underwriters will ask a freight broker
- Loads per month and the vetting process for carriers, the contingent coverages carried, and payment controls against fraud
- Services, largest engagement size and the contracts you sign
- Claims-made retroactive date and any prior claims or circumstances
- Multi-factor authentication, backups and endpoint protection
- Records held, payment card handling and any client network access
- Funds handled per month, dual controls and trust-account practice
Have the answers in the wallet before the renewal and the quote request fills itself in; CoverMatch sends one application to every eligible carrier and lines the quotes up against what you have.
Renewal timing
Workers' compensation is audited on actual payroll and liability on sales, so a busy year ends with a bill unless the estimates were kept honest; pay-as-you-go billing through your payroll company removes most of that. Renewal autopilot starts the comparison sixty days out, prefilled from the wallet.