MOTOR TRUCK CARGO INSURANCE
Motor Truck Cargo Insurance protects the cargo load on your truck from loss or damage and ensures that your cargo arrives at the appropriate destination in one piece. Although the law does not require all truckers to carry this type of commercial vehicle insurance, many of the companies who hire independent drivers to transport goods for them will request a certificate of cargo insurance from the trucking insurance companies to ensure their property is adequately protected.
“What Limits should I carry?”
I was asked this from an auto hauler the other day and explained by asking a few questions.
This is a very good question,
1. How many autos do you haul at any one time? response that it could vary from 6 to 8.
2. Are they new or used? response with both but, mostly used.
3. What is the average value of each auto? The response was, about 23,000.00 each.
4. Are they mixed with new auto? Response, NO.
5. Is constructive total loss clause needed?
Now different types of truckers haul different types of motor truck cargo, from tow trucks to flat beds and sand and gravel.
The sand & gravel is a tricky one too. Why should I carry cargo for sand and gravel? To put it in simple terms “Yes you should”
For example, you have an accident in the middle of an intersection and the truck is turned on it’s side and is loaded. You may think I can have some one with front end loader come pick it no biggy. Well the city isn’t going to wait for you to call the office and have someone load up the trailer and come clean it up. NO, they are going to call the company that is contracted with the city to come clean it up and send you the bill.
Therefore I suggest a 25,000.00 MTC to cover this un for seen accident, because if you don’t have it, that money will come out of your pockets.