Freight Brokers: Your Trailer Insurance Has HUGE Gaps!

Freight brokers may be inadequately protected by their current trailer insurance policies, according to Andy Kuchar, President of Centerline Insurance Company. Kuchar explained that many trailers are inadequately insured and that traditional policies often omit crucial over-the-road coverage. In 2019, Centerline launched a dedicated trailer insurance product after noticing a significant gap in the market.

One major carrier Kuchar reviewed, which he declined to name, contained a specific exclusion for trailers over the road, leaving brokers with fleets of potentially uninsured trailers. Since the post-Montgomery legal environment arose, plaintiffs' attorneys have increasingly targeted brokers directly due to their deeper pockets, rather than smaller trucking carriers that usually carry only $1 million in coverage.

Claims can balloon into staggering amounts, with bodily injury payouts running $50,000 to $75,000 or more. Centerline offers trailer liability products tailored to freight brokers leasing trailers, transportation firms operating in multiple capacities, and leasing companies.