Insurance
Filing Requirements
A
common or contract carrier or foreign (Mexican) motor private
carrier or foreign motor carrier transporting regulated
or exempt commodities subject to Subtitle IV, part B, chapter
135 of Title 49 of the United States Code must file with
the FMCSA surety bonds, and certificates of insurance, proof
of qualifications as self–insurer, or other securities
or agreements, in the amounts prescribed in Section 387.303.
Mexico-domiciled carriers operating within a United States/Mexico
border commercial zone, subject to 49 U.S.C. § 13902(c)
and 49 C.F.R. § 368, are not required to file insurance
with the FMCSA, but may meet the minimum financial responsibility
requirements by obtaining insurance coverage, in the required
amounts, for periods of 24 hours or longer, from insurers
that meet the requirements of 49 CFR 387.315. These motor
carriers must have available for inspection in each of its
vehicles:
An insurance
company, surety company or financial institution is responsible
for filing insurance on behalf of the carrier on FMCSA's
prescribed form(s) listed below and as provided by 49 CFR
387.313 (link to URL), Forms and Procedure, prescribes that
endorsements for policies of insurance and surety bonds,
certificates of insurance, applications to qualify as a
self–insurer, or for approval of other securities
or agreements, and notices of cancellation must be in the
form prescribed and approved by the FMCSA:
•
BMC-91, Motor Carrier Automobile Bodily Injury and Property
Damage Liability Certificate of Insurance (this form provides
the full security limits, however, the limits are not displayed
on the form).
•
BMC-91X, Motor Carrier Automobile Bodily Injury and Property
Damage Liability Certificate of Insurance (this form is
used for primary or excess, and unlike the BMC-91 the limits
are displayed).
• BMC-34, Motor Carrier Cargo Liability (this form
is used for cargo liability).
• BMC-82, Motor Carrier Bodily Injury Liability and
Property Damage Liability Surety Bond Under 49 U.S.C. 13906
(this is a Surety Bond that is an alternative to filing
Bodily Injury and Property Damage Liability commercial insurance
(BMC-91 or BMC-91X). It also should be noted that the Surety
Bond has more security than the commercial insurance).
• BMC-83, Motor Carrier Cargo Liability Surety Bond
Under 49 U.S.C. 13906, (this is a Surety Bond for cargo,
it is an alternative to filing the BMC-34, this too has
more security than the commercial cargo insurance).
• BMC-84, Property Broker’s Surety Bond under
49 U.S.C. 13906, (this is a Property Broker’s Surety
Bond this bond has to come from a surety company).
• BMC-85, Property Broker’s Trust Fund Agreement
under 49 U.S.C. 13906 or Notice of Cancellation of the Agreement,
(this form can be used in lieu of the BMC-84, it should
be noted that the Commercial Enforcement Division can supply
this form, however, it must be filled out by a financial
institution and submitted to FMCSA).
• BMC-32, Endorsement for motor common carrier policies
of insurance for cargo liability, this form should be attached
to the cargo insurance policy given to the motor carrier
by its insurance company. Carriers are not required to file
copies of this form with FMCSA.
• MCS-90, Endorsement for motor carrier policies of
insurance for automobile bodily injury and property damage
liability. This endorsement should be attached to BI&PD
insurance policy given to the motor carrier by its insurance
company. Carriers are not required to file copies of this
form with FMCSA
