Are you overpaying for Commercial Cargo Insurance?
Let us help you!
Motor Truck Cargo Insurance covers the freight you’re hauling for your customers.
Commercial Cargo Insurance protects that freight for Theft, Fire, Collisions, or Striking of Load.
Most policies include debris removal, pollution cleanup, earned freight, sue & labor coverage, and protection for your equipment.
Reefer Breakdown Coverage can be added to your Commercial Cargo Insurance.
The Commercial Cargo policy you need depends on the type and value of the freight you're hauling.
Did you know there are 12 main types of freight categories but tons of subcategories?
Too many Owner Operators end up overpaying for their Commercial Cargo Insurance by defaulting to the catch all category of General Freight.
We’re here to help you save money and only pay for the coverage you actually need to protect your customers.
Think About It...
In the same example we used for your Liability Coverage and Physical Damage, Motor Truck Cargo Coverage protects you and your customer.
You’re in the right hand lane driving on heavy traffic when a speeding car weaves in front of you and out again to pass the slow car in the left lane.
The driver of the slow car panics and pulls into your lane, causing your front left bumper to spin him out of control back into his lane with other oncoming traffic.
Another car slams their brakes to avoid the spinout.
You pull sharply to the right but overturn, sliding several yards and splitting the side of your truck open spilling boxes of freight everywhere.
Upon inspection, the auto parts you were hauling for your customer are damaged and unusable.
Because this accident example was deemed everyone’s fault, Motor Truck Cargo pays for the damage and loss of your customer’s auto parts.
In this case, your coverage to protect you and your customer falls under Motor Truck Cargo Insurance.
Motor Truck Cargo pays for the damage and loss of your customer's freight.
FAQ
$100,000 Motor Truck Cargo can fluctuate anywhere between $500 and $4,000 per year.
This is why we help you determine how much cargo and which categories of freight you’re hauling. We also review this with you at each renewal, and even mid-term if necessary.
Hot Shots are often required to carry $250,000 in coverage by their customers.
The premium usually runs between $1,500 and $2,500 per year.
Learn more about Hot Shot Insurance here.
Reefer Breakdown Coverage insures your cargo if it gets damaged due to spoilage or temperature changes caused by a sudden and accidental breakdown of your truck’s refrigeration or heating unit.
Reefer coverage is an Endorsement that must be added to your standard Motor Truck Cargo Insurance policy.
If you’re hauling temperature sensitive commodities, there’s a lot more you need to know about Reefer Breakdown Coverage than basic Motor Truck Cargo.
Be sure to read Best Commercial Reefer Cargo Insurance to see how coverage can differ between policies and how that impacts your ability to get loads.
The cost for Reefer Breakdown Coverage depends on how valuable or fragile the freight is, so it can vary quite a bit.
The easiest thing to do?
Just give us a quick call for an accurate quote—it only takes a few minutes!
FMCSA insurance regulations on cargo do not affect most Trucking for Hire operations. Your customer is what drives the amount of cargo insurance you carry. In a few cases it can be as low as $5,000 in coverage, but industry standard is $100,000 Motor Truck Cargo to bid on most freight. This includes Cargo Van and Sprinter Insurance.
Learn More About Commercial Cargo Insurance and Reefer Breakdown Coverage
I dealt with a lot of insurance agents, got numerous quotes & had a lot of questions. These guys had the best rate, answered all of my questions in the most detailed way possible & explained everything thoroughly. I felt and know that Commercial Insurance Solutions were here to help me succeed. Thank you Christina and the team for always being on top of my requests and emails. I recommend any and everyone to work with CIS for your Freight insurance needs.
