Protect Your Goods With Comprehensive Truck Cargo Insurance for Truckers

We know how crucial it is to keep your goods safe during transit, which is why we offer tailored truck cargo insurance solutions that protect your cargo from a wide range of risks, including damage, theft, or loss.

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Protecting Your Valuable Assets During Transit What Does Cargo Insurance Do?

Cargo insurance covers the loss, theft, or damage of goods during transit. Our cargo insurance policies are designed to provide coverage for a variety of risks that may arise during the shipping process. With Cheap Truck Insurance, you can have peace of mind knowing that your valuable cargo is fully protected, and you can focus on what really matters - growing your business.

Here are types of truck cargo insurance policies we offer:

1 All-risk coverage: This comprehensive insurance policy covers a wide range of risks, including damage, loss, or theft of cargo.
2 Named peril coverage: This policy covers specific risks that are named in the policy, such as theft, fire, or collision.
3 Contingent cargo coverage: This insurance policy provides coverage for goods that are being transported by a third-party carrier, such as a freight forwarder.
4 Reefer breakdown coverage: This policy covers losses that result from a malfunction in the refrigeration unit that is transporting perishable goods.
5 Warehouse to warehouse coverage: This type of insurance policy provides coverage for cargo from the time it leaves the warehouse until it reaches its final destination.

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Factors That Affect Premiums & How to get Cheap Coverage Understanding The Costs Involved

The cost of cargo insurance for truckers can vary depending on the type of cargo being transported, its value, the mode of transportation, and the level of risk involved in the shipping process. Typically, cargo insurance premiums are influenced by the following factors: the type of coverage, the value of the cargo, the mode of transportation, and the level of risk. All-risk coverage, which is the most comprehensive type of cargo insurance, typically has a higher premium than named perils coverage.

At Cheap Truck Insurance, we understand the importance of finding affordable cargo insurance policies that cater to the unique needs of each client. That's why we work with multiple insurance carriers to find the best coverage options at the most affordable prices. Our experienced agents can help you find the right cargo insurance policy for your trucking business, ensuring that your valuable assets are fully protected during transit, without breaking the bank.

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Factors affecting your commercial cargo insurance coverage

At Cheap Truck Insurance, we know that cost is an important factor when choosing an insurance policy. But, did you know about all the factors that can effect the price of your policy?

Here are some factors you should know about when considering the cost of a policy:

Type of Cargo
Value of Cargo
Mode of Transport
Risk Level
Deductibles
Safety Measures
Driving Record

Type of cargo: The type of coverage, such as all-risk or named perils, can affect the premium costs.
Value of cargo: The value of the cargo being transported will impact the insurance cost.
Mode of transport: The mode of transportation used, such as by land, sea, or air, can also impact the cost of cargo insurance.
Risk Level: The level of risk involved in the transportation of goods can affect the insurance cost. For example, transporting hazardous materials may be more expensive to insure than non-hazardous materials.

Deductibles: A higher deductible can lower monthly premiums, but may lead to higher out-of-pocket costs in the event of a claim.
Safety Measures: Truckers who take additional safety measures to protect their cargo, such as installing GPS tracking systems, may be eligible for lower premiums.
Driving Record: Truckers with a good driving record will generally pay lower premiums than those with a history of accidents or violations.

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When to Choose Cargo Insurance Over Freight

While cargo insurance and freight insurance are often used interchangeably, they are actually two different types of insurance policies. Cargo insurance provides coverage for the goods being transported, while freight insurance covers the liability of the carrier or freight forwarder in case of damage or loss of the cargo. Here's when you need Cargo Insurance:

You own the cargo being transported & want to protect it

You are a shipper / small business owner who ships goods

You want to protect your cargo against perils outside the carrier's control

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Our Trucking Insurance Experts Answer Your Questions

Recent questions about cargo insurance coverage:

Whether you're a small business owner or a large corporation, if you're involved in the transportation of goods, you'll likely need cargo insurance to protect your valuable assets during transit. But when exactly is cargo insurance required, and who needs it?
Here's what you need to know:

When Is Cargo Insurance Required?

Depending on the type of cargo being transported and the terms of the transportation agreement, Cargo insurance may be required by law or contract.

Here are some situations when cargo insurance may be required:

Legal Requirements: In some cases, cargo insurance may be required by law. For example, the Federal Motor Carrier Safety Administration (FMCSA) requires motor carriers to have cargo insurance with a minimum coverage of $5,000 per vehicle, per occurrence, for non-hazardous freight, and $10,000 per vehicle, per occurrence, for hazardous materials.

Transportation Agreements: Many shippers, brokers, and carriers require cargo insurance as a condition of doing business.

Protecting Assets: Even if cargo insurance is not legally required or contractually mandated, it is a good idea to have this coverage to protect your business. Without cargo insurance, you could be held liable for any damage or loss to the cargo.

Trucking insurance questions and answers

When Do You Need Cargo Insurance?

Finding insurance can be confusing and it's even hard to self evaluate your needs. That's why we created this short self evaluation test to see if you need cargo insurance! If you answer yes to any of the following, you may need cargo insurance.

Are you...

1. An owner-operators who transport goods as independent contractors?

2. A trucking company who provides transportation services for hire?

3. A freight broker who arranges transportation of goods for shippers?

4. A shipper who transports your own goods using your own trucks or hired carriers?

5. A logistics company that manages the movement of goods through the supply chain?

How To File A Cargo
Insurance Claim

No matter how well you prepare for shipping your cargo, accidents can still happen, which is why cargo insurance is essential for protecting your business and your assets during transit.

Filing a cargo insurance claim can be a daunting process, but taking the right steps can help you get the compensation you're entitled to. All you need to do is contact your insurance carrier or agent and provide them with the necessary details of the loss or damage. Once you've done that, your carrier will guide you through the claim process, which typically involves filling out a claim form and providing supporting documentation, such as proof of loss or damage.

At Cheap Truck Insurance, we understand the importance of filing a cargo insurance claim quickly and efficiently. Contact one of our experienced agents and get help filing your claim today!

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