MN SF2905

Replaces the fixed $50,000 cargo insurance requirement for household goods movers with a sliding scale based on vehicle weight capacity.

Cargo insurance or bond amount is calculated by multiplying the maximum weight allowed for the vehicle(s) under Minnesota's axle weight limits by 0.625.

Sets minimum cargo insurance requirement at $5,000 and maintains maximum requirement at $50,000.

Requires cargo certificates of insurance to conform to federal Form H and cargo bonds to conform to federal Form J under Code of Federal Regulations, title 49, part 1023.

Takes effect July 1, 2010 for cargo insurance and bond contracts entered into or renewed on or after that date.