Affordable Truck insurance from right stop insurance

Truck Cargo Insurance

Motor truck cargo insurance provides legal liability coverage for truckers, whether common or contract, while they are transporting property of others. The policy protects the insured trucker and covered the cargo property.

The contracts must be reviewed for legal liability. The agent needs to know who is legally liable at which point during shipping to guarantee that the correct coverage is in place in the event of a loss. This requires knowing who is transporting what, where, how and when.

First we must understand about the coverage. While other classes within the industry are seeing companies come and go, and coverage change dramatically from year to year because of losses and capacity, motor truck cargo tends to be constant. Although influenced by the times and economy, and some prices fluctuation is seen from year to year, the coverage is basic when understood.

Many cargo forms have sub-limits, co-insurance requirements or deductibles that an insured may not be aware of when choosing a policy. It can be difficult for a producer and insured to completely understand the differences between one form and another if the producer does not review this type of form or coverage on a regular basis.

The types of forms can be narrowed down to scheduled or composite. The composite form will charge on revenue/miles/units audited at end of year. The scheduled form looks at each unit individually. The composite can be used when looking to add new and/or replacement trucks during the policy terms, while the scheduled form is able to better control the number of drivers for example. Both have benefits depending on the size of the fleet, number of drivers (and experience) and the units of cargo.

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