Surety Bond

M

MADBOOKER

Active Member
Apr 3, 2009
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Hello All.

Can anyone recommend a good company that specializes in Surety bonds for Canadian transportation brokers.

I've noticed an extreme increase this year. just looking at different options.

Thanks.
 
We use The Guarantee Company Of North America, 954 Dundas St. Woodstock, ON 519 539 9868. The bond is obtained through our insurance broker, so I am not sure if you can go direct to this underwriter or not. The premium for us last year runs around $3000.00 for the 75k bond. I wouldn't be surprised if the rates have or will be going up this year. If you find someone who offers the bond at a significantly lower rate, please let us all know. As a broker, you know we're always looking for the "lowest rate"!
 
Agreed Mike Jr. We use Marsh Canada for all of our other insurance needs, contingency cargo, general liability, errors and omissions, etc. Very knowledgeable and great to deal with.
 
Thanks guys for sharing.
I'm at Approx 2400.00 per year for 75000. which is up about 300.00 from last year.
If interested in seeing if you can save some $$

C.U.T.C Inc.
1295 Carol CR.
Laval
866-927-8294 or 450-687-8294

Let me know how it works out.
Danny
 
We use CG & B for our error and omissions/ contingent cargo policy as well they get us our surety for $ 3000 USD. never had any issues with them ( been with them for 10 yrs now - based out of markham, ON )
 
$75,000 Freight bond is currently being offered at $3000 US.

There may be another option in the new year for about $2700 US.
 
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Does anyone know any insurers that are willing to work with new freight brokers (> 3 years)?

The Guarantee Company Of North America has stated they are unable to insure us because we are a new company without full collateral.
 
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