An essential part of a complete commercial truck insurance package is Cargo Insurance. The nature of the commercial motor carrier trucking industry can be diverse, so having a Cargo Insurance policy in place is vital.
The three main areas you need to protect are: your truck, your trailer, and your cargo. We at TIA can help you to design worry-free coverage so you can operate your trucking business with confidence.
Many times, cargo can be expensive or dangerous. Special Cargo Insurance policies are designed for hazardous materials such as fuel or chemicals. In fact, the cargo can be more dangerous to people then the truck at times!
Even if your cargo is not highly expensive or dangerous, being liable for its loss can be financially destructive for a commercial trucking company. With a good, solid Cargo Insurance Policy in place, you will have nothing to worry about.
Here are some various types of Cargo Insurance available to the motor carrier industry:
- Dump Truck
- Tow Truck
- Hazardous Material
Combining Cargo Insurance with your Primary Liability and Trailer Insurance is a great start. Let us help you design an insurance package tailored to the needs and specifications of your commercial trucking business.
Talk to one of our agents today for more information on Cargo Insurance and receive free commercial insurance for trucks quotes!
Cargo Insurance FAQs
Q: What does Cargo Insurance Cover?
A: Cargo Insurance covers the motor carrier if it is legally liable for the destruction, damage, or other loss of the property being shipped. It does not cover the trailer, however, and may not cover all types of cargo.
Q: What types of cargo are there?
A: Specific policies exist to cover the various types of cargo that can be shipped. Dump trucks carry one type; fuel tankers carry another. If cargo is hazardous, you may be required by law to have Cargo Insurance for that load. Also available is coverage for tow trucks, freight and refrigeration.
Q: Are there any exclusions?
A: There can be. Discussing this with your agent is extremely important. Due to the fact that the value of loads can change drastically from one haul to the next, it is imperative to have the right coverage. Common exclusions are loss of load due to leaving the cargo unattended or theft by a company employee.