Insurance for Trucking Cargo

 

Cargo insurance can help cover the loss or damage of physical goods during transit. Many risks are inherent in any type of shipping, including mechanical failures, natural disasters and human error. Insuring goods while in transit can help guard your organization’s financial stability. 

The Federal Motor Carrier Safety Administration (FMCSA) requires commercial truck drivers and motor carriers to maintain certain liability insurance types and amounts. In addition to the required liability policies, you can choose additional insurance to help protect your truck, trailer and cargo. 

Without cargo insurance, you bear full financial responsibility for any loss or damage to your goods. Depending on the value and volume of your cargo, the financial impact can be substantial. 

Motor Truck Cargo Insurance Coverage 

Motor truck cargo insurance is designed to help cover freight hauled by truck drivers. It may cover the driver or trucking company’s liability for cargo lost or damaged due to unexpected events, including fire, collision or striking of a load. 

Motor truck cargo insurance may include coverage for removal expenses to help mitigate clean-up costs if cargo spills onto a roadway. 

Truck cargo insurance is customizable in that you can choose dollar limits for coverage and a deductible. The deductible is the amount your organization pays toward the total damages if you file a claim—insurance coverage for damaged or destroyed cargo kicks in after your deductible is paid. 

Who Needs Motor Truck Cargo Insurance? 

Cargo insurance may be appropriate for trucking operations and truck drivers that use trailers, flatbeds, car haulers, cargo vans, dump trucks or tractors to haul cargo. Your agent can help you determine the coverage you may need for the type of goods you typically haul. 

Many shipping contracts and agreements require the parties involved to carry cargo insurance. By having cargo insurance in place, you fulfill these contractual obligations and help avoid potential legal issues or disputes. 

Contact Us 

Whether your goods are transported domestically or internationally, by land, sea or air, cargo insurance can be customized to address the specific risks associated with each mode of transport. 

Contact Berger Briggs Insurance & Risk Solutions in Albuquerque, New Mexico, to get personalized quotes for cargo insurance coverage. We can help you get coverage to comply with your shipper’s requirements as well as state and federal laws at a great rate.