Freight Brokers wrestle with many questions when deciding cost management strategies. One of the biggest is whether or not they need Liability Auto Insurance. The straight forward answer is absolutely. Auto liability coverage is a must for freight brokers. There are so many unpredictable, uncontrollable forces out there, (accidents, storms, hijackings, theft, vandalism) that it’s impossible to avoid a lawsuit sooner or later, even if you have nothing to do with the incident. Just having your cargo there can put you at risk. If a truck gets into an accident, the first thing lawyers want to do is drag everybody they can into court. The average claim on an auto accident is about 2.6 million dollars. Without proper Liability Auto Insurance, such a claim can be devastating to a business. Liability costs for shipping skyrockets, severely impairing profitability.

There are many steps freight brokers can take to protect assets and not face serious punitive damages as a result of death or injury from the movement of freight. One of the best steps is having someone with years of industry experience to review your current business model & current contracts regarding liability auto insurance in place. GSIS, Inc. is a leader in Risk Management education and Insurance Solutions. Our company is focused on educating our clients on risk management strategies for the freight broker industry. We are always interested in spreading current news topics for freight brokers relating to the industry, including major catastrophes and current laws that affect the Freight Broker/Transportation industry. You can also contact us for a quote or if you have any further questions about liability auto insurance coverage!

Here at LOGISTIQ, a GSIS company, we deal in the many forms of domestic and international trade insurance, and our trained professionals help you choose a policy that fits your needs perfectly.