What costs are paid for by motor truck cargo coverage?
Should there be a covered loss of cargo, motor truck cargo coverage might help with most associated costs. These could include:
- Lost freight revenues
- Contractual penalties
- Settlements with customers
- Court fees and attorney fees
- Equipment relocation
- Debris removal
- Pollution cleanup
Is cargo protected when loading and unloading at docks?
Motor truck cargo coverage can extend to loading and unloading at docks (or other locations). This isn’t a universal protection, however. It’s often only found in some policies, and maybe even an add-on option when available.
An insurance agent who knows motor truck cargo well should be able to find a policy that covers the loading and unloading of cargo.
Is cargo protected when stopped during a trip?
In most cases, cargo is covered while drivers make stops related to their trips. Transporters normally don’t need to worry about drivers stopping for fuel or a break, and many policies can cover overnight stops for trips that exceed a driver’s legally allowed hours.
Personal stops, such as short detours to see family or friends, might not be covered.
A knowledgeable insurance agent can help transporters make sure overnight stops are covered, if drivers take longer regional or national tri
How are motor truck cargo premiums calculated?
The premiums for motor truck cargo policies are affected by multiple factors. Insurance companies typically look at:
- Cargo type and value
- Miles and routes driven
- Expected risks
- Recent insurance claims
An independent insurance agent can help transporters shop around, to see what projections and rates different insurance companies have.