Commercial Truck Cargo Insurance

Do you need this coverage?

No, the federal law does not require you to have cargo insurance. The owner of the goods you are hauling may require the coverage. The company you are hauling for will let you know the cargo coverage limit they require. The trucking average is $100,000 cargo coverage. We highly recommend you carry cargo insurance in order to protect your goods in case of an accident.

Commercial Truck Cargo Insurance Coverage

  • Motor Truck Cargo Insurance

  • Contingent Cargo Insurance

  •  Terminal Coverage

  • Warehouse Legal Coverage

Commercial Truck Cargo Insurance Coverage Definitions

Motor Truck Cargo Insurance

Provides Insurance for the commodity hauled by a For-hire trucker.

It covers your liability for the cargo that is damaged or loss due to an accident while the goods are in your custody.  You select your limit for Motor Truck Cargo with a deductible. The limit would be the maximum amount of coverage that would be paid minus your deductible you choose. As with any coverage form, the motor truck cargo policy form varies with different insurance companies. It is always a good idea to review the form to know what would be paid in regards to debris removal, coinsurance clause, earned freight coverages.

Contingent Cargo Insurance

Legal Liability provides coverage when a trucker’s primary motor truck cargo policy fails to assume the responsibility for cargo loss or damage.  This type of policy is designed to protect a transportation broker or freight forwarder against the liability assumed when making arrangements to move cargo for others.

Terminal Coverage

Protects freight located at specified terminals in the event of loss.  Usually there are time limitations related to this coverage.  For example: 72 hours maximum per specified load.  If the goods are stored longer than the terminal time you would most likely want to purchase Warehouse Legal coverage.  This amount of coverage is dependent on the total amount of goods stored/docked/off-loaded at any one time.

Warehouse Legal Coverage

Protects goods stored at specified locations in the event of loss.  For example as relates to theft, fire, sprinkler damage.  This amount of coverage is dependent on the total amount of goods stored at the location at any one time.

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