Insurance for the Trucking Industry
Trucking companies are the infrastructure of the economy, hauling billions of dollars in consumer goods across the nation every year. Although an additional expense, interstate trucking cargo insurance programs can be a game-changer in the event of cargo loss or damage.
Why Its Necessary
Many trucking companies have fallen victim to cargo theft and fictitious pick-up schemes, resulting in devastating financial loss to the company and their contracts. Trucking firms who experience loss of cargo in pick-up schemes have found it virtually impossible to recover the stolen goods, as missing trailers are long gone by the time the error is uncovered. Parking lots, breakdowns and tired or dishonest drivers are also known as easy targets for cargo theft.
What It Does
Interstate trucking cargo insurance programs offer liability coverage for cargo items in the event of theft, even when crossing state lines. Federally required trucking liability coverage is often limited to bodily or property harm occurring during a collision, but cargo insurance protects the actual contents of the trailer regardless of travel origins or destination. It is also highly probably most shippers will require a certain amount of cargo coverage before committing to a transport contract.
For a trucking company, investing in interstate cargo insurance can potentially save thousands of dollars in the event of theft during transport. Know the type of coverage you need to fully protect your cargo.