subject: How to Find Cheap Cargo Insurance [print this page] How to Find Cheap Cargo Insurance
If you are the owner/operator of a commercial truck fleet in the Chicago area, you are probably on the lookout for cheap cargo insurance premiums. It can be difficult to know where to look and what coverage is best for your business. You may even think that cheap rates are a thing of the past. Luckily, there are ways to find affordable solutions for your business.
When looking for cargo insurance quotes, it's best to start your search online. You will be able to find several local companies that offer cargo insurance. After answering a few questions, you'll be provided with a quote. Make sure you contact several companies and compare the extent of coverage you get with each one. You will probably want to visit the companies in person and talk to an agent directly. Your agent will be an important part of your team and you need to make sure that the two of you will get along and you feel comfortable with them.
Your insurance rate will depend on several things, such as what type of cargo your fleet hauls, the value of the cargo, and whether or not it's live cargo. They will also consider the distance the fleet drives, whether within a small radius, or across country. You will need to encompass other insurance as well, such as primary liability insurance, bobtail insurance, non-trucking insurance, physical damage insurance and occupational accident insurance.
It is critical to operate your fleet under federal and state laws, so make sure you know what those are. If you are not operating under the law and you have an accident, the insurance coverage you have may become null and void. This could cause you great personal financial hardship. Medical and legal costs could become insurmountable causing you to lose your business, and your personal assets.
When you choose the insurance company you want to work with, make sure the agent answers all of your questions and don't sign anything until you read the fine print in the contract. Making your payments will be relatively simple - usually a check that comes right out of your bank account every month. Some will allow credit card payments as well. You don't have to be an insurance expert, but you should understand what kind of coverage you have; how much liability coverage you have; and how to make a claim in case of an accident.
Proper driver training will also ensure that you get a good rate. Make sure your drivers renew their training and licenses on a regular basis. Extra safety training will get you a better insurance rate. More importantly, it keeps everyone safe on the roads. If they drive long distances make sure they are only on the roads a certain number of hours every day, according to state and federal law.
When you request cargo insurance quotes, be sure that the quote encompasses the exact coverage that you need. There's nothing worse than purchasing what you don't need, and needing something that you don't have. Do your homework and choose wisely. Your business depends on it.
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