Kissimmee, Fla.—In the United States, most companies do require motor truck cargo insurance before they do business with carriers. Entrusting a non-insured carrier to ship products is simply too risky since no law requires the carrier to be responsible for any financial loss and the truck company may face legal action from the owner of the goods. Cargo insurance insures the cargo and its handlers during transit.
Motor Truck Cargo insurance, otherwise known as Cargo, provides insurance on the freight or commodity hauled by a for-hire trucker. It covers liability for cargo that is lost or damaged due to causes like fire, collision or striking of a load.
Cargo insurance includes the following products among many others:
- Land cargo insurance—Land cargo insurance, also known as inland marine insurance, is any cargo moved on land. This includes motor truck cargo insurance. Land cargo insurance usually covers reasonable issues that might strike during land-based transit.
- Marine cargo insurance—Marine cargo insurance is for cargo moved across bodies of water, particularly the ocean. The largest amount of freight select this way for its shipping, either by container ships, oil tankers, or bulk goods cargo ships. Marine cargo insurance can also include freight shipped by air.
- Open coverage— This type of cargo insurance protects freight for a predetermined time frame. Multiple shipments can be protected. It is generally used by carriers who make frequent shipments.
- Single coverage—Single coverage cargo insurance only protects cargo for a single shipment, so this type of coverage may be more suitable for carriers who make infrequent shipments.
With Motor Truck Cargo insurance, you must select a limit for your coverage. This limit determines the maximum amount your insurance company will pay for damaged or destroyed cargo. You also need to choose a deductible. A deductible is the amount you agree to pay out of pocket when you have a claim. Choosing a higher deductible is an easy way to lower the price of your insurance. Keep in mind that this deductible must be affordable to ensure your ability to pay any out of pocket needed.
Our Orlando location has served the insurance needs of the Central Florida community for over 12 years, by offering a full spectrum of truck insurance products and services for owners operators, and small to large fleets. As a local independent insurance agency, Kissimmee Truck Insurance works with top insurance companies in the market, so we can provide you with the right tools to make the best decision at the time of purchasing insurance coverage that truly matches your business’s needs. From Commercial Auto Insurance and/or Contractor Insurance, to Truck Insurance.
Talk to our local, fully bilingual, and experienced agents from Kissimmee Truck Insurance and let them know what your needs and priorities are. Give us a call today at (407) 203-7085— for an initial consultation and quotes from multiple insurance carrier choices who support us in Florida!