Cargo insurance covers the freight the truck hauls. It pays for cargo damage or loss in cases like collision, fire and others. Motor truck cargo coverage varies greatly because of the huge variety of cargo itself. Nowadays trucks ship all kinds of freight, starting with produce and ending with hazmat.
Cargo insurance is not always required legally. But most of the time customers in the trucking industry require it even for fright like dry goods. And if you carry the types of cargo such as hazmat, liquids or toxic gas, you are going to need more specialized motor truck cargo insurance.
You can get cargo coverage for policies with the following types of trucks and trailers:
Freight insurance is not available for passenger vehicles, ice cream trucks and garbage trucks. It also does not apply to the following types of cargo:
Cargo insurance is important not only because shipping customers demand it. It is also a piece of mind. Damage and loss of some types of freight without having proper coverage can cost you tens of thousands of dollars. For instance, if you have car carrier insurance, the cargo insurance portion of it must be optimized to fully cover you in any situation. A single car is often worth $10-20 thousand dollars or even up to $50,000 and more. Imagine losing or damaging this kind of cargo without having it properly insured. It can simply leave you broke.
At SafeLine we are always happy to help owner operators, small trucking businesses and fleet owners build the right truck insurance policy. Get a free insurance quote online and protect your investment today!