Cargo Insurance
Cargo insurance is a necessary type of insurance for owner-operators and trucking companies. Many independent owner-operators will find that shipping companies will require that they carry a minimal policy on their trucks before they allow them to move their freight. Cargo insurance is a policy that will cover the value of the cargo up to the policy limit if anything happens during transport and the load is damaged or destroyed.
What Cargo Insurance Covers
Cargo insurance will cover the loss or damage to a shipment due to the following:
Collision
Fire
Theft
Dumping cargo
Running over cargo
Additional types of events can be added to your policy if requested. These policies pay to replace the cargo up to the policy limits. Drivers are encouraged to carry a policy that will cover the value of their loads. Some policies will also cover the costs associated with cleaning up the cargo that has been dumped on the road. Not every policy provides this coverage. Speak with your agent at Truckers Insured to see if your policy covers this service or if you can add it to your current policy.
What Cargo Insurance Does Not Cover?
Every insurance carrier will cover different types of loads under their cargo insurance policies. However, a majority of insurance carriers will not cover the following types of loads unless a special policy rider is purchased:
Livestock
Dangerous materials such as explosives
Fine art, cash in any denomination, or jewelry
Cargo that has been stored in the trailer for more than 2 hours without movement
Personal items owned by the insured
Items that were not listed on the Bill of Lading
It is vital to review what types of cargo are covered by your policy and determine if you need any special additions for the loads you carry.
Costs of Cargo Policies
The cost for the cargo policy you select will be based on the policy's value. Drivers are encouraged to carry a policy based on the average value of their shipments. You can reduce the premiums for this type of insurance by adding a deductible. Like most other policies, the higher your deductible, the lower your premiums. However, you should always base your deductible choices on how much money you have readily available.
Call Truckers Insured For Cargo Insurance Today
Cargo insurance provides you with extra protection every time you move a load. All of the shippers will require that you have a cargo policy in place to move their loads. When you have cargo insurance, you can operate your businesses with the confidence that you are protected for every mile you drive. Finding the right cargo insurance is easy when you work with Truckers Insured. Our customer care reps work with many insurance companies, so they can always find you the best policy at the best price.
Truckers Insured offers independent truck owners, owner-operators and trucking companies the opportunity to find the best insurance products for their business. We offer a complete line of trucking industry insurance policies so that you are covered for any unexpected event. In addition to our trucking industry policies, we also have a full line of business, employee benefits, and personal insurance products. Call Truckers Insured for all of your insurance needs.