Why JW Surety Writes More Freight Broker Bonds Than Anyone
Lowest Costs and Payment Plans
As the largest writer of surety bonds in the U.S. (not just freight broker bonds), we are able to negotiate volume discounts with the bonding companies. Then we pass the savings on to you. We work with numerous bonding companies to provide you the best fit, at the lowest cost for your specific needs. We are also the only bond provider to offer payment plans.
Our claim specialists do a superior job of reducing or negating claims altogether. Fewer paid claims result in pricing at a fraction of the competition's. If you have had trouble getting approved for your bond elsewhere, chances are good we will be able to help you. We approve 99% of all freight brokers who apply.
Some have said our program is too good to be true, but what they don't understand is that our agency worked with one of the top surety companies in the nation and created this bond program from the ground up to help all freight brokers meet the increased FMCSA bond requirement. The program is exclusive to our agency, which means if you try to get the same terms elsewhere, the bond will likely be brokered through us, costing you more time and money.
Why Do Other Bond Providers Fall Short on Claims?
Most companies do not write enough freight broker business to understand the intricacies of the freight industry. Improper claim handling could result in illegitimate claims being paid, for which you'll ultimately foot the bill. For example, would your current bonding company know that a haul of rice and corn commodities are not claimable on your bond, but a haul of cocoa beans are? Unfortunately, most do not. Since you are responsible to repay all claims, it’s important that your bond provider’s claim department can properly defend you.
Quickest and Easiest Bonding Process
There are several reasons our agency is the top writer of freight broker bonds, the first being we don't require your business financial statements in order to get a bond. When you apply for your freight broker bond with most other agencies, they will require you to get audited personal and business financial statements, which can cost thousands to have prepared by a CPA (certified public accountant). Our streamlined bonding process only asks for basic information about you and your brokerage, making it possible to quickly get approved for your freight broker bond and pay online.
We Have the Strongest Bond Backing
Our program offers freight brokers bonds that are backed by one of the strongest surety companies in the country. This is important because surety companies must pay bond claims initially. If you get a freight broker bond from a weak surety company who can't pay their clients' claims, they will likely go bankrupt, the FMCSA will reject your bond and you'll be forced to purchase a new one, while getting no refund for your original bond. Our agency requires no collateral, which means you don't have to freeze thousands of your cash in a bank account in addition to paying the bond fee. When you purchase the bond, it also comes with an experienced claims department to dispute any false claims; this is incredibly valuable in an industry that has a large number of false claims due to delayed payments to shippers and motor carriers.
If you choose the trust fund to meet the FMCSA requirement, you must post 100% collateral. This means that instead of a surety company guaranteeing your performance, you are providing the guarantee with your cash held by a bank or trust company. The cash in the trust will be available for payment of claims. Check out our article for a more in-depth comparison of freight broker bonds and trust funds so you can decide what's best for your freight brokerage.
Author: Eric Weisbrot
Eric is an industry expert that specializes in taking complex surety concepts and explaining them in terms that make sense to the general public. He also manages the JW Surety Bonds website and works with various partners to help further educate the public on suretyship using various mediums.
What our clients have to say
"I would recommend them highly if you are in the market for surety bonds or similar products."
"When I told them how urgent my request was, they pulled out all the stops and got it done in record time - amazing!"
"JW Surety Bonds was able to get me what I needed and gave me the best price of all the bond companies I received quotes from."
"As a small business owner I was looking for a bond company that could issue me a bond at a rate I could afford, and JW Surety Bond by far gave me the best quote."
"Patsy Tinsman seems to always have the answers and goes above and beyond the call of duty to make sure we are taken care of in a timely manner. The personal service she provides makes us think we are her only client..."
"JW Surety Bonds has continued to meet or exceed my expectations in the past 3 years of business relations."
"I had a very time sensitive issue that I was needing assistance on. Cori got back to me right away (within minutes) and followed up with me constantly until we had resolved the issue."