Cargo insurance covers loss or damage to freight in transit. Cargo coverage forms can vary dramatically from one insurance company to another as most states do not regulate or standardize this coverage.
There are two main motor truck cargo coverage forms written today, named peril and legal liability. Named peril insurance is just what it sounds like; the insured is covered for loss or damage to freight caused by specific perils named in the policy. This coverage is not widely written today however it can be appropriate for some truckers that haul one specific commodity as it is usually less expensive or because legal liability coverage is not available due to losses or other underwriting factors. Legal liability coverage is the most widely used coverage form today and it sounds great… until you dig deeper and find out your coverage is severely limited by multiple warranties and/or coverage is excluded entirely for certain specific commodities for theft or other losses.
All cargo insurance policies are not created equal. You need to know that your agent has the knowledge and expertise to place your coverage with the right company with the coverage you need. We believe knowing what’s not covered is just as important as knowing what is covered. We represent the best companies with the best motor truck cargo coverage forms and protection available today. When you need cargo insurance, make sure you go with an agent who knows what they’re selling and understands your business. We know trucking!
Call us today at 210-490-0770 or fill out the form at the top of this page to speak to one of our cargo insurance professionals.
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