Truck Cargo Insurance Key Terms

Get your career on the road with truck cargo insurance key terms

Trucking cargo insurance is important to cover the liability of the goods that you carry. If you're new to the trucking industry, you may be confused by all the terms regarding trucking cargo insurance. Your insurance salesman may try to sell you a bobtail insurance plan or warehouseman's legal liability insurance. But do you need those? Look for companies that offer a flexible coverage plan to help you get exactly what you need. Start by learning these key terms.

 

Flexible coverage

A company that provides flexible coverage doesn't have a one-size-fits-all insurance plan. They realize that just as every company is different, every insurance plan should be different as well. Your insurance plan should be designed to meet your specific needs.
Try: Learn more about flexible coverage for truck cargo at FM Global.

Claim

If you've been in an accident or your cargo was stolen or damaged, you'll need to file a claim with the insurance company. This is a request for money to cover the cost of replacement, as specified in the insurance policy.
Try: You can see how to file a claim at Owner Operator Direct.

Bobtail insurance

Bobtail insurance, sometimes called non-trucking liability is an add-on insurance policy for your truck. A trucking cargo policy only covers the cargo and you need insurance to cover the vehicle, driver or passengers. This is bought in addition to cargo insurance.
Try: Progressive Commercial offers bobtail insurance policies. Read their website to learn more.

Warehouseman's legal liability insurance

Sometimes, a company will hire a trucking company not just to transport goods, but to store them as well. If you are storing goods for a company, you'll also need to have warehouseman's legal liability insurance.
Try: Learn about this type of insurance policy from Capacity Coverage.

Ineligible commodities

When purchasing an insurance policy for the cargo that you carry, you have to consider what type of cargo it is. Some insurance policies may have a list of ineligible commodities, or goods that are not covered under the insurance plan.
Try: See examples of ineligible commodities from Zurich Insurance.

Truckers Service Association

The Truckers Service Association is a professional organization for truckers. It offers trucking cargo insurance policies to its members. Some truckers prefer to purchase insurance through organizations such as this because these associations understand the needs of truckers.
Try: Learn more about the Truckers Service Association from their website.

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