Buyers and sellers agree to contractual shipping terms every day. Now your trucking company is moving the cargo, but do you know what the contract means and how cargo insurance for trucking company liability can protect you from unforeseen circ+umstances? Here are two reasons you need cargo insurance.
1. Carrier Liability Insurance Is Not Enough
Whether the buyer or seller is responsible for cargo during shipping, the fact is, if something happens to the goods in transit, it will be you who is on the line for the costs. You know that you have to have carrier liability insurance and may assume that it has you covered in case of a cargo disaster, but it simply isn't enough coverage. Completely cover damage and loss with cargo insurance so that you never have to dip into your business funds for something that wasn't your fault.
2. You Can't Plan For Every Eventuality
You may feel like hiring safe drivers with clean records, your excellent maintenance program and cargo protection measures should be enough. While those are all great practices, you simply can't plan for theft, natural disasters and other drivers. Trying to save a few dollars upfront can end up costing your business thousands or millions of dollars.
Cargo insurance is an optional coverage, but if you want to protect your business assets, it shouldn't be.