MOTOR TRUCK CARGO INSURANCE

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What is Motor Truck Cargo Insurance?

Motor Truck Cargo insurance is a type of commercial trucking insurance coverage that will provide coverage for the commodities being hauled for hire by a motor carrier or owner-operator.

This coverage is one of three main insurance coverages motor carriers will carry as it is typically required by shippers before a motor carrier is able to transport their commodities.

Who Needs Cargo Insurance and Why?

Any trucker hauling commodities from one destination to another for hire will want to have this coverage or risk having to pay out-of-pocket for any damages to the commodities being transported. That is, if any shipper will allow you to transport their shipments without this coverage.

What Cargo Insurance Covers

Motor Truck Cargo Insurance (Cargo Insurance) will provide coverage for any commodities being transported in the event that they are damaged and need to be replaced or paid for.

What Cargo Insurance Doesn't Cover

This coverage will not cover:

Bodily Injury and Property Damage to others (even if the damage occurs from your cargo falling onto someone or something)
Damage to your vehicle
Damage to the operator of the vehicle

What Cargo Insurance Limits You Typically Need

Cargo coverage can include a wide range of coverage limits depending on your choice. Most motor carriers will acquire a limit of at least $100,000 as this is the limit most shippers will require of their motor carriers.

Which Deductible to Choose

The deductible you choose is completely up to you and the limits available for your particular policy. Choosing a higher deductible will result in a decrease in premium. Of course the higher the deductible, the more you will have to pay out-of-pocket to file a claim.
Keep in mind, most shippers will require a minimum deductible of $1,000.