Finding the Best Cargo Insurance Companies
Whether you are an owner operator in California or a fleet manager in Florida, finding the best cargo insurance company tough. Experts recommend comparing offers from at least three different companies before making a decision. With over fifty major insurance companies writing cargo policies, the trick is finding the one company with the best rates and coverage for your operation.
We’ve streamlined the shopping process for you. Just fill out one simple form on our site and we’ll bring you three different insurance agents with access to a large chunk of these companies. They’ll each bring you their best quote and you just choose the best one. Simple!
7 Questions to Ask the Motor Cargo Insurance Company
1) What does my policy cover?
You should find a company that covers all the types of goods you carry without any gaps in coverage. Not all policies include:
- Losses from Water Damage
- Damage taken during loading or unloading
- Loss while in storage
- Loss due to broken refrigeration equipment
- Damage to personal household property
2) How customizable is my policy?
You don’t want a cargo policy that covers materials you don’t haul; ask your agent to customize your coverage to suit the types of materials you typically move.
3) Can I combine my deductible with my liability and physical damage insurance?
Say you have a major accident where your truck, trailer, and cargo are all damaged. If you have to pay only a single deductible instead of three separate deductibles, you’ll end up saving money. This is great feature if you can find it.
4) Can I add coverage on the fly?
What if you come across a lucrative electronics load, and your current policy excludes that commodity? Some companies have a the ability to add special trip endorsements which would give you temporary coverage just for that load. A representative from the company should also be available anytime you need him. He should be able to change your policy quickly and send you a new certificate of insurance so you can get back to hauling instead of wasting time at the terminal.
5) Do you offer Broad Coverage?
Broad coverage insures you for more types of incidents, and there aren’t as many gaps in your coverage compared to some narrow based polices. While a policy offering broad based coverage typically costs more, it is definitely something to discuss with your agent.
6) Does my coverage include theft limitations?
Some policies have limits when it comes to losses from theft. If your cargo is stolen, and you don’t have theft coverage, you might have to pay for that out-of-pocket. Talk to your agent and make sure this won’t happen to you. Also some polices that do cover theft, have very low limits, which could leave you holding the bag.
7) What is your claims handling experience?
It pays to have an experienced insurance company insuring your operation. If you have a cargo loss, will you company be able to settle this in a way that keeps the total loss under your policy limits? An experienced commercial cargo insurance company will be able to salvage and recover as much cargo as possible resulting in a lower loss, and hopefully under your limits.
Where To Find Cargo Insurance Companies
Years ago truckers would browse their yellow pages to find insurance companies that hopefully wrote cargo polices, but life is easier now. It doesn’t matter if you are in Texas or Michigan, or any State in the Union. We can bring you 3 agents that understand trucking that will compete to earn your business. Just fill out one quick form and get three quotes from three different truck insurance brokers.