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FMCSA Insurance Requirement Update
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This service is for Carriers that have the wrong insurance requirement listed with the FMCSA.
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Detailed Description
The FMCSA Insurance Requirement Update service is for Carriers that have an MC number with the wrong insurance requirement listed with the FMCSA. This usually happens when you select the wrong Gross Vehicle Weight Rating during the MC application process. It can also happen when you make updates to your USDOT number that affect insurance requirements, without updating the MC number. Not only can this cause your company issues with USDOT Enforcement Officers, it can also cause issues dealing with Brokers and Shippers because your authority is not listed properly.
Some of the most common mistakes we correct are:
- Mistake #1 - $300,000 Requirement Listed for Vehicles over 10,000 lbs GVWR – Any vehicle over 10,000 GVWR should have a minimum requirement of $750,000
- Mistake #2 - $750,000 Requirement Listed for Vehicles 10,000 lbs GVWR and below - Small cargo vans and lighter vehicles 10,000 lbs GVWR and below should only have a requirement of $300,000
- Mistake #3 - $1,000,000 Requirement Listed for Non-Hazardous Cargo - If you are not hauling motor vehicles or anything hazardous, your BIPD Requirement should be $750,000 for anything over 10,000 lbs GVWR.
- Mistake #4 - $750,000 Requirement Listed for Carriers Hauling Motor Vehicles – If you haul motor vehicles (cars), your minimum insurance requirement should be $1,000,000.
We will prepare and submit a written explanation along with the required applications to the FMCSA on your behalf in order to update your insurance requirement to the correct amount. Once the paperwork is processed by the FMCSA, your insurance requirements will be corrected in the FMCSA’s Licensing and Insurance Search. It will usually take a few days from there to update on 3rd party sites and load boards.
I'm ready to update, now what? Simply click Add to Cart to add the service to your Service Cart. From there, just click the Checkout Now button to complete the process. Once we receive the order, we'll prepare the paperwork and email the prepared documents over for digital signature. If we have any questions once we receive the order, we will contact you.
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What does the BIPD Insurance Requirement Need to be?
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