Motor truck cargo insurance is an extra type of coverage added to the basic coverage normally provided by an auto insurance policy. This additional coverage usually applies to trucks carrying cargo on public roads. Motor truck cargo insurance is designed to cover vehicles that transport goods—both personal and business—that makes up the bulk of the truck’s value.
If you drive for a living, there’s a good chance that at some point in your career you will be required to carry commercial truck cargo insurance. Cargo insurance is a type of commercial vehicle insurance that protects drivers from loss or injury as a result of goods or products being loaded or unloaded on a commercial truck.
Types of motor truck cargo insurance
Table of Contents
Motor truck cargo insurance is a unique type of commercial insurance that is designed to cover the loss or damage of products being transported via truck. This coverage is generally required if you are transporting goods that are considered goods of intrinsic value (e.g., jewelry) or goods that are considered perishable goods (e.g., food).
Commercial trucking insurance (also known as cargo insurance) can protect you from losses resulting from accidents involving your commercial vehicles. There are different types of trucking insurance available to meet different needs. Cargo insurance can be broken down into five major categories.
Why you need it
A motor truck cargo insurance policy is designed to protect carriers, shippers, and consumers for cargo that is transported on commercial motor vehicles. Motor truck cargo insurance protects companies that transport cargo, from small shipments to large freight shipments. This type of insurance helps cover damages and losses associated with transporting cargo, including personal injury and property damage. It covers the cargo that needs to be transported from one point to another, from large to small and from interstate to intrastate. This type of insurance works like a cargo insurance policy for your truck, but is specifically designed to cover cargo carried for over-the-road transportation.
Motor truck cargo insurance covers your vehicle when it is in transit, when it is being delivered, or when it is stored, parked, or stored in a trailer. This coverage is required by federal law for anyone who hauls cargo worth more than $1,000,000 in gross weight. This insurance will also cover your cargo when in transit, whether it’s liquid, cargo, machinery, or equipment, as well as materials or supplies that are being transported from place to place.
Covers damage to cargo
If you’ve ever been in an accident with a commercial truck, you know the damage can be substantial. Commercial trucks can weigh as much as 80,000 pounds, while the average car only weighs 4,000 pounds. That means when in an accident, car damage can be minimal, while commercial truck damage can be much more severe.
When it comes to choosing the right motor truck cargo insurance policy, it helps to compare quotes from multiple companies so that you know you’re getting the best coverage for the best price. Get a free online motor truck cargo insurance quote from Cover Me Insurance Agency.
Covers damage to a vehicle
Covering damage to a motor truck cargo insurance is the first thing you should come to think of whenever you are going to have a trucking accident. This is for a good reason because commercial trucks are seriously huge, heavy, and motorized, so they are bound to cause an accident in relatively a short period of time. It is actually very possible for these accidents to happen anywhere—even when trucks are parked at terminals waiting for their next set of clients.
People are always talking about the dangers of texting and driving, but most don’t realize that driving while distracted doesn’t just mean texting. According to the Centers for Disease Control and Prevention (CDC), talking on a handheld cell phone has been the cause of 3,450 deaths in 2014 alone, with 400,000 more injuries reported. Over 90 percent of those deaths occurred among drivers who were using handheld cell phones at the time of the crashes, according to the agency’s report. That’s nearly 1,000 deaths every week.
Covers damage to or loss of a cargo trailer
The motor truck cargo insurance cover provides compensation for cargo trailer motor truck cover loss or damage due to an accident. The policy can cover partial or total loss of the cargo trailer motor truck cover. Some policies provide coverage for the full value of the trailer even if value is less than the total insured amount.
Lots of things can go wrong with trailers. Just the hot weather can do a number on them. But did you know your trailer motor truck cargo insurance can cover you if the trailer breaks down? Or that it can also cover your trailer if it is stolen?
In conclusion, motor truck cargo insurance is a type of cargo insurance covers vehicles that transport goods on a public road. For example, cargo insurance for passenger cars and commercial vehicles. Motor Truck Cargo Insurance as cargo insurance for buses, trucks, and trailers. Motor Truck Cargo Insurance is insurance that covers the goods being carried. This insurance protects against loss or damage to goods during transit.
Motor truck cargo insurance provides coverage for damages to cargo or cargo transportation. Cargo insurance under a motor truck policy protects cargo against loss due to theft, snow, fire, windstorm, hail, collision, vandalism, explosion, riot, and more.