Understanding Cargo Liability Insurance

Motor Truck Cargo

Knowing that anything can happen on the road, staying protected is key to maintaining a reputation and ensuring trucking operations continue. Motor truck cargo liability coverage is designed to protect the insured and the owner of the goods during transportation. Unlike other forms of vehicle insurance, this type of coverage can seem complicated.

What It Is

At a minimum, for-hire trucking requires carrier liability. This limited coverage typically includes injuries or damage to property but not the cargo being transported. Any damage to the precious cargo clients entrust a trucking company with could come with devastating financial results. Cargo liability, which is often required by clients, offers protection for specific or a series of shipments. While every policy is different, it is designed to cover losses such as fire, theft, water damage, collision and equipment failure.

What to Consider

The cargo itself factors into how the policy works. Limits and costs depend on the type of load, where it is being transported from and its destination. In many cases, certain types of cargo are excluded from this coverage. These often include:

  • Art, jewelry, money or paper
  • Alcohol, pharmaceuticals or tobacco
  • Live animals
  • Cargo with another carrier
  • Items owned by the insured
  • Shipping containers

According to www.truckinsure.com, it is also important to factor in theft, which is capped, and unattended vehicle coverage, which typically means zero coverage, when developing transport plans and choosing the right insurance package.

Essential Components of Auto Insurance

car insurance companies in CT

Selecting the right insurance isn’t easy, and deciding which coverage you want is one of the most difficult parts of the decision. There are many options that are designed to provide various protections. Your state’s regulations may determine what coverage is mandatory, but you might still be unsure of which options are best suited to your needs. These are the most important options offered by car insurance companies in CT.

Understand Each Option Available

The best way to get the right coverage is to research each part and determine whether it is relevant to your needs. In order to adequately protect against liability, your policy should generally include the following essential components:

  • Liability protection
  • Collision coverage
  • Medical payments

Liability will protect you in the event that you are at fault for damage, collision covers the expense of damage done by another driver and medical payments provides coverage for any heath care you may need as a result of an accident.

Get the Auto Coverage You Need

It is important not to settle for less coverage in an attempt to save money on auto insurance. The right car insurance companies in CT can help you find the policy that has the coverage you need at a price that fits your budget.