Contingent Cargo Insurance

Contingent cargo insurance is insurance coverage specifically designed to cover legal liability arising from the arrangement or transportation of goods not in one's care, custody, and control.
Contingent Cargo insurance can be expensive depending on the nature of the goods you are shipping, but with Contingent Cargo insurance your business's financial exposure can be limited to a percentage of your cargo's value (contingency).

The cost of contingent cargo insurance will vary based on the type and value of your goods. This insurance is very affordable for businesses moving high-value items but can be more difficult for smaller companies with lower-valued products to find coverage within their budget.

Contingent cargo insurance can cost between  $1,200-$2,500 per year for the minimum necessary limit of $100,000 per load. The higher the risk level of your goods, the more expensive they will be to insure.

Contingent Cargo Insurance is one of the most affordable business insurance options available today for freight brokers as well as other logistics companies that have legal liability associated with the transportation of cargo. You can apply directly on our website to get a free quote.

Contingent cargo insurance is designed to cover the value of your cargo should it be lost, damaged or stolen during transportation.

In most cases, the insurance provider will cover you regardless of the mode of transportation - be it by land, rail, or sea.

Contingent cargo insurance is required and or necessary for a freight broker in the case they are brought into a claim due to their legal liability.
This insurance should be purchased through an experienced broker and it should always be included on your transport bill.

Contingent Cargo Insurance is available through an insurance broker. The Federal Maritime Commission (FMC) has specific requirements in order to be eligible for this type of coverage such as:

• Active Property Broker Authority with the FMCSA
• BMC-84 Surety Bond on file
• Understanding the commodities to be brokered
• A process in place to vet motor carriers

The process is fairly straightforward. Then, you can apply directly on our website to get a free quote.

Contingent cargo insurance is meant to cover goods should they be lost or stolen during transport.

Coverage can also protect you from fees and expenses incurred by the owner due to your legal liability in the transportation of those goods, as well as costs to defend and mitigate the claim.