Protecting cargo while it is being shipped is a big issue and Motor Truck Cargo Insurance has a solution to cover
It offers liability insurance for truckers who carry the cargo of others and is used in the event that the cargo is destroyed, damaged, stolen, or otherwise declared a loss while in the process of cargo being shipped. Motor truck cargo insurance also covers the liability for the products that are destroyed or stolen due to accident, fire and load striking.
If the cargo is destroyed accidentally on the road or in the waterway it will assist in pays for the cost to remove the remaining parts that affected by the debris. Motor truck cargo insurance will pay for costs related to preventing more loss to the destroyed cargo and it will provide the legal expenditures in the clearance of the claims.
Who needs Motor truck cargo insurance?
An increasing number of risks truckers need to insure their cargo. Motor truck cargo insurance pays when the cargo destroyed due to fire, accident or even running over the cargo that is transported on the behalf of a customer.
Limits, deductible and Other Details
During the choice of Motor truck cargo insurance, the truckers have to choose a limit of coverage.
This limit will define the maximum insurance amount that the company will provide for destroyed cargo. The choice of a deductible is also very important for the truckers during insurance. A deductible is a money that the trucker pay out of pocket when he has a claim. A selection of higher deductible will decrease the insurance price. But chose the affordable deductible is an intelligent point in insurance.
It is necessary to obtain the policy with a maximum load limit for every truck. The motor truck cargo insurance policy defends against claims by third parties such as:
The proprietor of the properties being conveyed
Other drivers on the transportation path
Persons appointed to manage the truck or its contents
Exceptions and restrictions
Motor truck cargo insurance is only available for the following types according to the insurance policies.
Dump truck, tractor, most trailers, box trucks, cement mixers, cargo vans, Dually pickups, flatbeds and car haulers.
Motor truck cargo insurance is not available for the garbage trucks, limos, hearses, buses, passenger vans or ice cream trucks.
The following cargo types are also excluded from coverage
Art, jewellery, money, paper, pharmaceuticals, tobacco, alcohol, live animals, things in charge of any other carrier, goods possessed by the insured, goods not under Bill of Lading, storage greater than 72 hours, shipping containers and explosive or radioactive material
