Business auto insurance will pay for damages to a truck in case of a collision. General liability provides coverage for personal injury if a truck driver is found to be at fault for a wreck. Yet neither policy pays for loss of or damage to the freight being transported in the vehicle.
Fill the Insurance Gap
Because safe delivery of freight becomes the sole responsibility of the for-hire trucker once he takes possession of the cargo, it is essential that this gap in protection is filled. The potential for large claims in the event of an accident could prove devastating for a small trucking concern.
What’s more, many shippers will not use a transport company without assurance that truck cargo insurance coverage is in place. Typically, a comprehensive cargo liability package provides protection for claims arising from the following:
- Striking of a load
Consider Your Needs
Tailoring truck cargo insurance coverage to fit your needs is important. Accurate evaluation of the value of the freight typically transported will result in coverage limits that protect a company in the event of a claim.
Storage in transit protection can also be added to protect against loss or damage to freight that is being held, without charge, in a warehouse or terminal prior to delivery. Consult an experienced agent to be certain your truck cargo insurance coverage is comprehensive and inclusive.