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Cargo Insurance Review: Trucking Insurance

At Saberlines Insurance, we understand your personal insurance needs. However, it’s crucial to ensure your business is fully covered.

Trucking Insurance: More Than Just the Basics

When it comes to trucking insurance, Liability and Physical Damage are essential. These cover you and your surroundings in case of accidents. But what about the cargo you are hauling? This blog emphasizes the importance of covering your cargo. We all hope for smooth sailing, but in case of an accident, it’s vital to minimize liability. Not only should the truck and surroundings be covered, but so should the business as a whole.

Why You Need Cargo Insurance

Cargo insurance protects you from liability while transporting goods. While it’s not legally required, new drivers often skip this coverage to save on startup costs. However, they may find that potential clients refuse to work with them due to the lack of coverage. If you don’t want to haul your own goods uncovered, no business will take that risk. Even business owners typically purchase “property” insurance for goods while in transit.

Coverage Limits and Debris

Cargo insurance covers the goods you transport up to a limit you set. It often includes coverage for debris caused by the cargo if it spills on the road or in water. Although not required by the federal government, this coverage is necessary for conducting business.

Regular Evaluation of Your Cargo Coverage

We recommend evaluating your cargo insurance regularly to ensure adequate coverage. Additionally, review information from Privacy Shield for better understanding. For truckers who frequently haul different types of freight, it’s crucial to communicate any changes in cargo to us immediately. While most policies offer coverage for a set amount, specific items like seafood may be excluded due to higher risk. Failing to update your policy could result in costly miscommunications, even if you think you’re covered.

Restrictions on Certain Goods

Some companies restrict coverage on specific types of cargo. For example, high-cost consumer goods may have limits on the payout for theft. Ensure that the coverage limit is sufficient for the type of goods you transport.

Customizing Your Cargo Insurance

At Saberlines Insurance, we offer cargo insurance, but these are just some basics to consider when customizing your coverage. Talk to your clients to determine if they have specific requirements for your policy. Typically, they will. Know what you will and won’t haul, and bring that information to us to ensure you never overpay or remain undercovered.

Specialized Coverage at Saberlines Insurance

At Saberlines Insurance, we provide carriers that cover everything from hot asphalt to frozen seafood without restrictions. The more information we have, the better we can tailor your policy to meet your needs in a competitive marketplace.