This contingentcargo coverage responds to defense and damage payments associated with a freight broker being named a party to a law suit including a third party motor carrier’s fatality or injury accident. This represents the greatest financial risk to freight brokerage operations. Learn about contingentcargo insurance, its benefits for freight brokers, and how it provides additional protection for shipments during global transit. Contingentcargo insurance is a specialised type of insurance that protects shippers and logistics companies from financial losses due to unforeseen events during cargo transportation.Cost of Insurance. Several variables affecthow much contingentcargo insurance costs. Breaking Down theContingentCargo Insurance for Freight Brokers Cost. Now, let’s talk numbers.Your projected gross revenue for the next 12 months. Understanding howcontingentcargo insurance for freight brokers works involves matching your specific risk to the right carrier. What hasn’t changed about contingentcargo is it’s unregulated—there’s no standard form and policies can vary by provider. Because of this lack of standardization, it’s important to read the fine print and understand exactly howcontingentcargo protects you. Quora is a place to gain and share knowledge. It's a platform to ask questions and connect with people who contribute unique insights and quality answers. This empowers people to learn from each other and to better understand the world. Contingentcargo insurance is insurance coverage specifically designed to cover legal liability arising from the arrangement or transportation of goods not in one's care, custody, and control. Cargo insurance, underwritten by groups called managed risk clubs, covers almost every possible risk.