General Freight Insurance For Motor Carriers
General Freight is a common cargo insurance commodity purchased by trucking companies who haul generic goods.
Commercial truck insurance needs will vary from person to person and from one industry subcategory to another. The needs of independent owner/operators and the needs of motor carriers will almost never be the same. This is why so many different types and levels of commercial truck insurance exist.
It is the nature of the commercial truck industry that demands highly specialized insurance coverage. Knowing what the laws require and your own individual needs help determine exactly what coverage is right for you.
Trucking Liability Insurance
The United States Department of Transportation requires that all commercial vehicle operators be covered by a primary trucking liability insurance policy. This provides protection for other motorists from damage costs due to accidents caused by commercial trucks.
Motor carriers provide this coverage to their drivers but must also protect their own assets. Any damage sustained to their trucks or cargo in these accidents will not be covered by their primary trucking liability insurance.
Motor carriers should therefore take a look at the many other types of commercial insurance that is available and find the ones that are right for their business. One of the most common options to consider is general freight insurance.
Freight Insurance
General freight insurance is a type of commercial truck insurance designed to provide blanket coverage for entire lines of cargo. Separate insurance will be required, however for highly regulated goods such as hazardous materials and perishable goods.
General Freight Insurance Coverage Amounts
Typically, general freight insurance coverage will be around $10,000 to $100,000 and depends mainly on the nature and size of the cargo. Certain state or federal mandates may also apply.
More Suggested Cargo Insurance Reading:
For more related cargo insurance information, please check out some of our additional titles such as: Truck Trailer Insurance and Trailer Interchange Coverage
