subject: Commercial Trucking Insurance: Cargo Protection Policies [print this page] Along with the necessary policies that must be purchased for minimum commercial trucking insurance coverage, there are also some additional policies designed to protect your cargo and freight while hauling it. It only through purchasing complete coverage that you can protect yourself from the full array of damages that could occur in an accident.
Cargo Insurance
The basic commercial truck insurance policies only cover the actual truck and driver in the event of an accident. In order to fully protect yourself, you must also realize that other parts of your business need coverage. The most obvious piece of coverage is cargo insurance.
Cargo insurance protects not only the freight that is being shipped in case of a spill, but also the damage that this could cause to other drivers. Sometimes, the cargo is actually the most dangerous element of the truck to fellow motorist on the road.
Purchase cargo insurance if you want extra protection for your freight or if you carry particularly dangerous materials that could be a hazard to other drivers.
Aggregate Insurance
Aggregate is a special blend of rock, dirt, concrete, gravel and asphalt used in construction. This haul tends to be relatively cheap and very durable, so it is not as difficult to insure. Aggregate insurance, or aggregate haulers insurance, is designed to be less expensive due to the nature of the cargo. It is understood that aggregate must be properly transported in a closed container, but at the same time there is very little potential damage from an accident. Whereas a driver carrying wood, cement or glass could damage their cargo in an accident, aggregate haulers can basically just scoop up their lost cargo if an accident were to causer spillage.
General Freight Insurance
General freight insurance typically cover somewhere between $10,000- $100,000 worth of freight in case that an accident cause the cargo to be damaged or destroyed. This prevents the trucking business from being held personally accountable for the amount. This is amongst the most basic of commercial truck insurance policies and is highly recommended for carriers who transport goods, especially long distances.
by: Patrick Winchester
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