Cargo Insurance
Cargo insurance is one of the essential pieces of good quality trucking insurance.
You’ve probably realized by now that commercial trucking insurance policies exist that are tailored to diverse areas of the trucking industry.
Good commercial truck insurance usually consists of cargo insurance and trailer coverage in addition to actual insurance for trucks.
In many situations, the cargo that’s hauled by truckers can be more dangerous to motorists than the trucks themselves. Special cargo insurance policies exist for hazardous materials insurance, fuel tankers and other cargos that are strictly regulated by law or carry more risks on the road.
What Cargo Insurance Covers
Cargo insurance is often beneficial for motor carriers that operate semi trucks to continually transport goods. Here are some common types of cargo insurance that motor carriers will purchase with their commercial truck insurance.
Tow Truck Insurance
Tow truck insurance is another one of the most popular types of specialty truck insurance. Tow truck insurance needs to be differentiated from traditional semi truck insurance because the “trailer” is technically a built in winch mechanism and the “cargo” is always another vehicle. The heroes of the commercial trucking industry, tow trucks are often used in unfriendly environments like icy roads or the sides of busy freeways. Good tow truck insurance takes these risks into account to provide an adequate commercial truck insurance policy. Royalty also provides garage keepers insurance, commonly purchased by larger tow truck businesses.
Find out more about tow truck insurance!
Aggregate Insurance
Insurance for trucks can vary greatly in value, premiums and coverage amounts. Whereas trucking insurance can exceed 7 figures for hazardous materials haulers, dirt, sand and gravel haulers or aggregate insurance have substantially lower-value cargo. Since aggregate insurance is needed in so many construction applications, however, proper commercial truck insurance is essential to the industry. Aggregate haulers or dirt, sand and gravel haulers ensures you’re protected without paying for unnecessary high-dollar cargo insurance coverage.
Find out more about aggregate insurance or dirt, sand and gravel haulers!
Freight Insurance
General freight insurance is a great type of blanket trucking insurance for companies that frequently haul basic dry goods. Usually, general freight will cover a pre-determined amount of cargo between $10,000-$100,000. Freight valued higher than $100,000 will oftentimes necessitate a special type of commercial truck insurance.
Learn more about general freight insurance!
Dump Truck Insurance
Dump truck insurance is one of the most popular forms of specialty commercial truck insurance. The need to differentiate dump truck insurance form typical semi truck insurance comes largely from the trailer on a dump truck being a mechanical moving part. Special policies exist for side loading and rear loading dump trucks and can vary slightly based on their application and cargo.
Find out more about dump truck insurance!
Moving Truck Insurance
Moving truck insurance is a specialized form of commercial trucking insurance for movers. Also called household goods haulers, moving truck insurance takes into account the unique application of moving vehicles and their ability to operate on residential streets and places most semi trucks are prohibited from driving on.
Find out more about moving truck insurance!
Produce Insurance
Produce insurance or produce haulers insurance is another type of specialty trucking insurance, related primarily to cargo considerations. Produce insurance make up a significant percentage of the commercial trucking industry, hauling food daily from our nation’s various suppliers. Commercial truck insurance for produce haulers carries some unique coverage stipulations. Not only are produce haulers trucks usually refrigerated, but a certain amount of produce cargo is pretty much guaranteed to spoil from transportation. Good commercial truck insurance for produce haulers allows for protection from these industry dangers.
Find out more about produce insurance!
Hazardous Materials Insurance
Hazardous materials insurance is an extremely important type of commercial trucking insurance that carries substantially higher coverage amounts than typical cargo insurance like general freight. Hazardous materials insurance is essential for commercial trucks like fuel tankers or trucks that carry chemical or gaseous cargo. Many state laws set mandated coverage amounts for hazardous materials haulers truck insurance, most of which exceed $1 million.
Find out more about hazardous materials insurance!
Cargo Insurance Required by Law
Cargo insurance isn’t usually required by law for general goods, but motor carriers often carry cargo insurance due to the common demand of their customers. Most shippers or manufacturers will expect their trucking companies to carry some type of cargo insurance as an industry standard.
Some states will have legal restrictions that affect cargo insurance, typically for hazardous materials haulers.
Talk to an agent today for free truck insurance quotes on any of our policies!
