StatusNot yet licensed. This site is information only.

Independent agency

Surety bonds and insurance

For construction contractors, trucking and freight brokers across the United States. Started in New Hampshire.

Contractors Trucking and freight

Coverage

  • Bid bonds
  • Performance bonds
  • Payment bonds
  • License and permit bonds
  • Freight broker bonds (BMC-84)
  • Contingent cargo
  • Contingent auto liability

About

An independent agency for clients across the United States.

Newmarket Insurance Group is an independent surety and insurance agency for construction contractors, trucking and freight brokers across the United States. It started in New Hampshire.

It isn't licensed yet, so it doesn't quote, sell or bind insurance or surety bonds.

Who it's for

  • 01ContractorsBid, performance and payment bonds. License and permit bonds.
  • 02Freight brokersFreight broker bonds (BMC-84).
  • 03TruckingContingent cargo and contingent auto liability.

Contract surety

Bid, performance and payment bonds.

  1. 01

    Bid bond

    Submitted with a bid. It guarantees the contractor will sign the contract at the bid price and provide the required performance and payment bonds if the bid wins.

  2. 02

    Performance bond

    Guarantees the project owner that the contractor will complete the work as the contract requires.

  3. 03

    Payment bond

    Guarantees that the subcontractors, workers and suppliers on the job get paid.

On the road

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Coverage

Surety bonds and trucking coverage.

  • Bid bonds

    Submitted with a contractor's bid on a project that requires one.

  • Performance and payment bonds

    Issued with a bonded contract: one guarantees the work gets finished, the other that subcontractors and suppliers get paid.

  • License and permit bonds

    Required by a state, county or town before it issues certain licenses and permits.

  • Freight broker bonds (BMC-84)

    The surety bond a property broker files with the FMCSA to hold broker authority.

  • Contingent cargo

    Covers a broker when a motor carrier's cargo insurance doesn't pay for lost or damaged freight.

  • Contingent auto liability

    Covers a broker named in an accident claim when the motor carrier's auto liability insurance doesn't respond.

Freight brokers

Broker bonds and contingent coverage.

  1. Freight broker bond (BMC-84)

    A property broker needs financial security on file with the FMCSA to get and keep broker authority. The BMC-84 surety bond is one way to meet it. It pays valid claims from motor carriers and shippers if the broker doesn't meet its obligations to them.

  2. Contingent cargo

    Covers the broker for loss of or damage to freight when the motor carrier's own cargo insurance doesn't respond.

  3. Contingent auto liability

    Covers the broker for claims from an accident involving a motor carrier it hired, when the carrier's own auto liability insurance doesn't respond.

License and permit bonds

Bonds a license or permit requires.

A state, county or town can require a bond before it issues a license or permit. The bond guarantees the business follows the laws and rules that come with it.

If the business breaks those rules, the surety pays valid claims and the business repays the surety.

Questions

F.A.Q

  1. A guarantee between three parties. The surety guarantees to the obligee, often a project owner or a government agency, that the principal, such as a contractor or a freight broker, will meet an obligation. If the surety pays a valid claim, the principal repays the surety.

  2. Insurance protects the policyholder against loss. A surety bond protects the obligee, and the principal stays responsible for repaying any claim the surety pays.

  3. Property brokers need financial security on file with the FMCSA to hold broker authority. A BMC-84 surety bond is one way to meet that requirement. The other is a BMC-85 trust fund.

  4. The motor carrier's own cargo and auto liability policies are primary. Contingent coverage protects the broker when those primary policies don't respond.

  5. No. Newmarket Insurance Group started in New Hampshire, and its coverage is for contractors, trucking and freight brokers across the United States.

  6. Not yet. Newmarket Insurance Group isn't licensed yet, so this site doesn't take quote requests, applications or contact details.