Motor truck cargo and motor truck general liability coverages are important for anyone in the cargo transportation field. More and more companies are requiring insurance protection for their drivers in order to prevent liability for potential losses. Transporting cargo of any value or volume involves a lot of risk that can be managed with comprehensive insurance. Read on for more about the differences between motor truck cargo and motor truck general liability insurance and determining which one you need.
Motor truck cargo insurance safeguards for-hire truckers and transportation company owners against the many hazards associated with moving cargo. Cargo that is transported via trucks is often carried over long distances and is therefore exposed to a lot of risk. Damage can be caused by an accident, a fire, a poorly secured load spilling and becoming broken, or getting caught in an unexpected flood or storm. It is impossible to predict every hazard, so it’s critical that operators and owners are protected from liability.
Truck cargo is often worth tens of thousands of dollars. While there are certainly precautions you can take to mitigate risks associated with cargo transportation, it is impossible to be certain that an accident won’t happen. Therefore, it is incredibly important that truck drivers and motor carriers protect themselves. Once the driver takes possession of the property, they assume liability, so insurance is essential. Examples of for-hire truckers who need motor truck cargo coverage include:
Motor truck general liability insurance covers damages that occur in the trucking business that do not involve the transportation and the cargo. In the event of an accident, damage often goes far beyond the actual cargo. Other vehicles or property may need repairs, and people may be injured. Medical expenses can also be incurred if a person involved in the packing, unpacking, or other elements of the transportation process become injured. This is a major concern for motor carriers who employ many people who can easily become injured.
Motor truck general liability coverage is often required by state and federal regulations and goes hand-in-hand with motor truck cargo insurance. Both are necessary to safeguard against all possible hazards. Motor truck general liability insurance is distinct in that it covers damages that do not involve the act of driving the truck, whereas motor truck cargo insurance covers the freight that is hauled.
Motor truck general liability and motor truck cargo insurance are mandatory in many places and there is usually a minimum amount of coverage that is required. Most for-hire truckers and motor carriers need both types of coverage. In the transportation business, there are constant hazards that can jeopardize cargo or cost a business a lot of money in legal fees, fines, medical payments, and other damages.
There are a great deal of potential hazards that motor carriers and for-hire truckers may not consider. Bodily injury, for example, can be anything from a broken bone to a slip and fall, and can leave you responsible for emergency room visits, medical bills, and legal fees, depending on the situation. Personal injury can include mental trauma and emotional suffering, and property damage liability assumes repair and replacement costs for someone else’s property. With motor truck general liability coverage, you can rest assured that you won’t be charged for an accident that could occur at literally any time.
Motor truck cargo insurance protects freight during transit, so it is especially important for for-hire truckers. Once the cargo is in your possession, you have assumed liability for it, and therefore need to protect yourself should an accident occur. The following businesses are usually required to have motor truck cargo coverage for their employees:
Motor truck general liability insurance covers the many hazards associated with transporting cargo that jeopardize workers and non-freight property.
Motor truck cargo safeguards carriers and truckers against the following common trucking hazards:
Motor truck general liability coverage protects transportation businesses and drivers from liability associated with the following:
Motor truck cargo coverage accounts for a range of risks. However, some restrictions and exclusions do apply. For example, if a driver leaves cargo unattended and theft occurs, that type of loss may not be covered. Depending on the provider, some goods are not covered. Examples include:
Motor truck general liability insurance is generally for motor carriers and for-hire truckers. Fee-based and fleet policies are often ineligible. Additionally, businesses that operate in conjunction with for-hire trucking are unable to secure this type of coverage. Motor truck general liability coverage excludes the following types of vehicles:
Insurance costs generally depend upon the individual needs for the business. Motor truck general liability coverage can be applied to a range of vehicles with time parameters or it can be all-inclusive 24/7.
If you are interested in motor truck cargo insurance, Call 888-9OSPREY or request a free online quote today. OspreyWatch, powered by Osprey Underwriters will match you with the best insurance products to suit your specific needs.