Broker Bond - DAT
Broker Bond
All freight brokers are required to have a $75,000 surety bond or trust fund. Luckily, it’s easy to access A-rated surety bonds with special pricing through DAT.
Get the surety bond you need at a great price
Comply with requirements
We’ve partnered with EPIC Insurance Brokers to help you get special pricing on your required surety bond. Integro is the nation’s sixth-largest private insurance brokerage with 11 offices in the U.S. offices, three in Canada and three overseas.
Save money
Integro is offering a $75,000 surety bond at a special price just through DAT.
Access a top-quality bond and exclusive benefits
The bond includes a highly competitive premium with no program initiation fees, no collateral and no financial statements required for those who qualify. The bond is rated “A” (Excellent) by A.M. Best.
FAQs
A few things you might be asking yourself
What exactly is a broker bond?
Bonds and trust funds help ensure carriers and shippers get paid even if a broker can’t live up to their contract. With a surety bond, brokers don’t have to set aside $75,000 in emergency funding. Instead, they pay a monthly fee to an insurance company to cover the amount if a case is filed against the bond.
Do I really need a surety bond?
Yes. All freight brokers must have a $75,000 surety bond or trust fund before they can get their authority and start doing business.
How can small brokers prepare for the underwriting process?
There are a few things you can do to improve your chances of qualifying for a surety bond:
- Get a letter of credit from a bank.
- Talk to your accountant about ways to improve your financial statement to support the bond.
- Support the bond using the brokerage owner’s personal financial statement.
If I’m a carrier who brokers loads, do I need a surety bond?
Yes — anyone who brokers loads needs to obtain brokerage authority, which means posting a bond.
Why should I get my bond through DAT?
We’ve partnered with EPIC Insurance Brokers to give you special pricing on an A-rated, $75,000 surety bond. Plus, you’ll get added benefits like a quick and easy application process and no required collateral for those who qualify.
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