Cargo damage can take place at any given time, so if you have been thinking about cargo insurance and if you need a policy for your trucking business, it is important to remember that driving without cargo insurance can be too risky. When a trucking accident takes place, the accident can result in over $150,000 worth of revenue that you will no longer have due to the accident.
If there is no cargo insurance, when there is any damage to the goods that need to be transported you could risk losing your business. If damage to the cargo occurs while it is in transit, a business could potentially face a lawsuit that will result in a judgment. There are many commercial and owner operator truck drivers who are not sure if they need a different policy.
Unfortunately, many drivers will assume that they can operate their trucks with only liability insurance. If any type of cargo is being transported on a regular basis, a driver will need cargo insurance because it prevents damages to the commercial truck. Cargo carriers hold the responsibility of transporting goods to another party through the use of a truck. Even if every detail is followed and the best care is taken, an accident can still occur. Unfortunately, there are also other risks that can take place during the transportation process, including theft.
Any type of cargo that is transported can be at risk. There are numerous advantages of having cargo insurance, especially when a driver needs to transport goods over an extended period of time. Sellers and agents have the ability to protect themselves through the use of cargo insurance against any type of accident, weather-related incident, theft, or vandalism act. Depending on the type of cargo insurance that has been obtained, cargo insurance can also be used to cover a loss that occurs due to one’s negligence.
Cargo insurance can cover the interests of both sides and it can help reduce the chances of future losses if damages occur during transport or if the cargo is lost or stolen. While we all understand how important it is to have insurance of any kind, everyone may not understand how insurance can protect one’s investment and financial interests.
If you are having difficulties understanding the type of insurance coverage you need and the coverage that can provide the best protection for your investment, please do not hesitate to contact us today for a consultation. We provide commercial truck and cargo insurance in Florida, Georgia, Texas, North Carolina, South Carolina, Illinois, Iowa, Tennessee & Nebraska.