What incidents are covered under motor truck cargo policies?
Motor truck cargo policies typically cover scenarios where cargo could be damaged or lost. The specific terms of the policy dictate the coverage, but common protections often include:
- Collisions/Accidents
- Fire and Severe Weather
- Theft and Vandalism
- Hijacking
- Accidental Overturning
An insurance agent with expertise in motor truck cargo policies can assist businesses in understanding the specific incidents covered by a policy.
What costs are covered by motor truck cargo policies?
When a freight transportation company has a claim, motor truck cargo could help with multiple associated costs. These may include:
- Court and attorney fees
- Settlements
- Contractual penalties
- Debris removal
- Equipment moving
- Uncollected freight charges
- Pollution cleanup
The specific costs covered by a policy are determined by the terms, conditions, and exclusions of that policy.
Do motor truck cargo policies provide coverage when trucks are parked?
Whether motor truck cargo policies extend their protections to when parked depends on the specifics of the policy and the parking context.
Generally, policies continue to cover the load when drivers park en route to their destination. For example, coverage while at fuel stations, at rest areas, or for overnight stays is included in the vast majority of policies.
Coverage during loading or unloading is less uniform, and varies from policy to policy. Some policies might not cover loads during this period. Others may cover cargo at loading/unloading docks for a specified duration, perhaps up to 48 or 72 hours.
An insurance agent who's knowledgeable in motor truck cargo can help freight transporters find a policy that provides coverage for when they need it.
What types of cargo do motor truck policies cover?
Motor truck cargo policies are able to cover a wide variety of cargo types, usually including raw materials, specialty parts, equipment, consumer goods and more.
Securing coverage for certain types of cargo, like art, collectibles, live animals, weapons, radioactive material, or other high-value items, may require working with a specialized insurance agent. Coverage is still probably available, though.
What are the premiums for motor truck cargo coverage?
The premiums for these policies primarily depend on the load's value, the perceived risk of loss, the distance traveled, among other factors. As premiums are calculated based on several variables, they vary widely.
An independent insurance agent can help freight transporters compare quotes from several insurance companies, to find out how much insuring their loads will be.
How can transporters in Massachusetts get motor truck cargo insurance?
If you need help insuring freight loads and are based in Massachusetts, reach out to the independent insurance agents at Roger Keith & Sons Insurance. Our agents are experts in commercial vehicle insurance coverages, including motor truck cargo insurance, and will make sure you find a policy that keeps your freight protected well.
