Understanding Cargo Insurance Limits and Premiums

Truck cargo insurance providers

Motor truck cargo insurance protects transporters in the event of damaged or lost freight. It’s almost just as bad to be under-insured as it is to be uninsured. Limits and premiums vary based on the load type, where the goods are being transported to and from and the average load. When you have expensive cargo, it’s important to have good insurance. Truck cargo insurance providers can discuss your specific needs when you buy insurance.

Cargo Insurance Risks and Provisions

Cargo insurance should be tailored to fit your operations and risks. Your insurance provider should address your risks based on your unique situation by asking questions about the cargo. Your insurance policy can protect the cargo when it is at the terminal or warehouse, provided that you are not being charged separately for storage and warehousing.

Know Your Policy

Read your insurance policy carefully to know the exclusions. You want to know that your risks are covered. Cargo insurance can be provided based on each vehicle or as a blanket policy for all your trucks. Local laws may determine the minimum amount of insurance required. Work with truck cargo insurance providers who know the transportation industry and will understand your individual needs to ensure coverage. You don’t want to make a claim only to find out you aren’t covered.