Is It Time To Add a Motor Truck Cargo Policy To Your Risk Management Plan?

American Team Managers

Independent truckers and trucking companies occupy a position of trust in American business, one that the national economy wouldn’t be able to function without. They carry goods, services, and even supply-line parts and resources from the sites where they’re made to the places they need to be if they’re going to be useful, and that means truck drivers and companies take a big risk. Carrier liability insurance is required to help mitigate that risk, but it’s not typically comprehensive enough to cover all the losses if something happens, and that’s where cargo insurance steps in. While carrying this extra coverage isn’t legally mandated the way carrier insurance is, it provides essential protection that can turn a disaster into a minor setback, mitigating the majority of the economic impact from cargo damage, loss, or even some types of fraud.

What Does Motor Truck Cargo Coverage Entail?

According to the resources provided by American Team Managers, the level of coverage can vary according to the policy cost and other factors, but typical provisions include:

  • Fire
  • Collision
  • Theft
  • Water damage
  • Equipment failure, including refrigeration breakdown

In addition to these basic provisions, some carriers also include pollutant cleanup, debris removal, and even reimbursement for expenses like fire department charges when there are bills related to a municipal fire department putting out a fire involving your cargo. With those kinds of protections, you really can’t afford to go without some form of motor truck cargo insurance.