Insurance for Freight broker

I just got quoted 20,000 cad per year for brokerage insurance assuming im able to obtain my own bond.
That’s crazy (and through CNA I’m sure). While they have the best coverage in this market, they’re seldom the best choice for startups. Try SUM insurance or Coast Underwriters. Minimum premium is 3,000-5,000. Send me a PM if you’d like, you NEED a specialist broker in this industry. Quoting is easy, claims advocacy is impossible if you don’t know what you’re doing (as an insurance broker).
 
The calculation of this insurance is related to the owner, usually ranging from 750 to 1500. Don't doubt what I'm saying, it's really this price.
What do you mean “related to the owner”. Freight brokerage insurance insures the company and its business activities, not the owner necessarily. Please explain yourself.
 
That is news to me. Never, in our 30+ years of operation, while maintaining an insurance policy, have any questions been asked about my personal credit worthiness. When we made the move to premiums based on gross receipts a number of years ago, the only questions were related to our sales projections for the upcoming year.
 
That is news to me. Never, in our 30+ years of operation, while maintaining an insurance policy, have any questions been asked about my personal credit worthiness. When we made the move to premiums based on gross receipts a number of years ago, the only questions were related to our sales projections for the upcoming year.
News to me @loaders
 
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That is news to me. Never, in our 30+ years of operation, while maintaining an insurance policy, have any questions been asked about my personal credit worthiness. When we made the move to premiums based on gross receipts a number of years ago, the only questions were related to our sales projections for the upcoming year.
That can happen for bonds, where personal/business credit/financials are required.
 
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This insurance is largely based on the personal credit record of the owner (boss) registered with the Freight Brokerage company, accounting for 90% of the influence.
Clearly a troll post !!!
Unless of course it's a basement-dwelling-hollering-at-mom-to-throw-down-another-bag-of-cookies load broker. You know, the kind that wants to get all coked up and gets mad when mom brings home a six pack of Pepsi.
 
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This insurance is largely based on the personal credit record of the owner (boss) registered with the Freight Brokerage company, accounting for 90% of the influence.
that is like one of the many actuarial factors considered in freight broker insurance. sorry but this is pretty ignorant.