How much does freight broker insurance cost in Florida? (2026)

Recent rate-filing activity — 8 state filings across 1 commercial line

Commercial carriers can't charge whatever they want — each state's Department of Insurance must approve loss-cost filings before they take effect. These are primary-source, government-held records available on SERFF Filing Access. Cited below: the most-recent active filings affecting freight broker operations, each cited to the regulator or bureau filing it came from.

Source: SERFF Filing Access (filingaccess.serff.com) — the official public-records interface for state Department of Insurance filings. Loss-cost changes shown are the overall bureau-wide change in each state; the actual impact on your quote depends on your class code, payroll, experience modifier, and carrier-specific loss-cost multiplier (LCM). Get a quote for your exact numbers.

Scope note: the filings tabulated above reflect NCCI class 9586 (Barber/Beauty Services) as an illustrative example of WC filing structure. Freight brokers' actual WC class is NCCI 8810 (Clerical Office Employees NOC) and NCCI 8742 (Salespersons or Collectors — Outside) — freight brokers are intermediaries arranging shipments, NOT motor carriers; they classify under clerical/sales codes rather than any trucking class (7219/7228). Freight brokers must carry FMCSA broker authority + BMC-84 surety bond ($75K) per federal law, but their WC exposure is office-based not driver-based. The per-state ranges shown reflect cross-class WC mechanics rather than 8810/8742 rates specifically. Confirm your specific class-code mapping at quote with your underwriter.

National context — Freight Broker insurance overview

Freight broker insurance is a completely different product set from driver/carrier insurance. Brokers don't operate trucks — they connect shippers with carriers, taking a percentage. The coverage stack reflects that: a federally-required FMCSA $75,000 BMC-84 surety bond (or BMC-85 trust fund), General Liability for office operations, Contingent Cargo + Contingent Auto for when a carrier's coverage falls short, Errors & Omissions for booking mistakes, and increasingly Cyber Liability for the rising tide of broker-carrier fraud schemes.

Typical total annual cost: $1,500-$5,000 in insurance premium plus $300-$1,000 for the BMC-84 bond (TIA 2024). The bond is the gating requirement — FMCSA won't issue or renew your MC# without it. Every figure on this page cites a named external publication.

National benchmark figures

Published cost ranges for Freight Broker insurance — useful as a national baseline against which the Florida filings above signal local direction.

Industry-typical market ranges (national)

Sourced from III, NCCI, ISO, NAIC, BLS, FMCSA, FDA, NRA — government and bureau publications, not from our quote form

Market ranges from published industry sources (annual):

• FMCSA BMC-84 surety bond ($75,000 face value): typically $300-$1,000/year in premium for brokers with good personal credit, $1,500-$3,000 for marginal credit (TIA 2024). Alternative: BMC-85 trust fund (fully-funded $75K cash) — no premium but ties up capital.
• General Liability for broker office operations: typically $400-$1,000/year
• Contingent Cargo (pays when carrier's cargo policy doesn't): typically $500-$2,000/year for $100K limit
• Contingent Auto Liability (pays when carrier's auto policy doesn't): typically $300-$1,000/year
• Errors & Omissions (E&O) for booking errors: typically $500-$2,500/year for $1M limit
• Cyber Liability (broker-carrier fraud + data breach): typically $600-$2,000/year for $1M limit

Most brokers run total insurance cost (excluding bond) at $1,500-$5,000/year. Adding bond premium brings total to $1,800-$6,000/year. Compared to drivers ($9K-$15K/yr for a single semi), brokers operate on a much lower insurance overhead — though revenue per shipment is also lower.

For Florida-specific direction, see the filed-rate table above.

Industry context — what published research says about Freight Broker coverage

• FMCSA $75,000 financial-responsibility requirement (49 CFR §387.307): every property broker must maintain $75,000 in either a surety bond (Form BMC-84) or trust fund (Form BMC-85). The 2013 MAP-21 Act raised the requirement from $10,000 to $75,000 — drove a small-broker shakeout. Required for MC# issuance + renewal. FMCSA.
• BMC-84 vs BMC-85: BMC-84 is a SURETY BOND issued by a bonding company — pay a premium ($300-$1,000/yr typical), they cover the $75K obligation. BMC-85 is a TRUST FUND — broker deposits full $75K with a trustee + earns no return on it. Most brokers choose BMC-84. TIA.
• Broker-carrier fraud rising: the past 3 years have seen significant increase in fraudulent carrier identity theft + double-brokering schemes targeting freight brokers. Cyber Liability + email-fraud (BEC) coverage have moved from optional to essential for active brokers. III.
• Contingent vs Primary: the broker doesn't OWN the cargo or operate the truck — the carrier does. Broker's Contingent Cargo coverage only pays IF the carrier's primary cargo coverage fails or is insufficient. Similar for Contingent Auto Liability. These products fill specific gaps + don't replace carrier-side coverage. IRMI.
• E&O scope: covers broker booking errors: dispatching to the wrong shipper, mis-quoting freight rates, mis-classifying hazmat, choosing an under-insured carrier, accepting fraudulent carrier credentials. One large E&O claim ($100K+ typical for serious errors) can wipe out a small broker. IRMI E&O.

How to lower your freight broker insurance cost

General levers that apply nationally — Florida operators may also have state-specific levers (e.g. non-subscriber WC, multi-jurisdiction permit consolidation).

Get your actual Florida quote in 5 minutes

The data above is regulator-filed direction. Your actual Florida quote depends on class code, payroll, experience modifier, and the LCM each carrier files.

More Florida rate-filing detail

• All Florida commercial rate filings (every line, every recent filing) — the broader rate-data view for Florida
• Rate filings by state — directory of all 47+ states with active filings
• National Rate Change Tracker — every filing across every state, sortable

Get a real Florida quote for freight broker

The data above shows the regulator-filed direction for Florida. For your actual quote — based on payroll, experience modifier, and the LCM each carrier files — request a free quote in under 90 seconds.

Related guides

• Freight Broker Insurance — full coverage guide
• Motor Truck Cargo (carrier-side cargo)
• Commercial Truck Insurance — for carriers you work with
• Professional Liability glossary entry
• Cyber Liability glossary entry

Sources cited (national context above)

1. Freight broker insurance overview — Insurance Information Institute (III), 2024
2. TIA broker bond + insurance guidance — Transportation Intermediaries Association (TIA), 2024
3. Broker financial responsibility filings (49 CFR 387.307) — Federal Motor Carrier Safety Administration (FMCSA), 2024
4. Contingent Cargo + E&O + Cyber glossary entries — International Risk Management Institute (IRMI), 2024