Cargo Insurance: What Type You Need
As a trucker, you have to think about insurance coverage. This is particularly true when you are transporting valuable cargo. When it comes to freight insurance, there are different types that you have to think about. Here is what you need to know.
All risk coverage helps provide protection against damage or losses that are caused by external problems. For instance, the following are often covered under all risk:
When a problem arises, but it isn’t your fault, this is usually where all risk will step in.
The broad form coverage extends beyond your basic coverages. With this coverage, it includes rare events that can be financially devastating. With comprehensive coverage, you have higher premiums and a deductible.
Legal liability covers what you lose if something is damaged or lost in transport. This might be due to an accident, a fire or other specific instances. Liability will help you pay for legal expenses and settlements of claims.
When it comes to freight insurance, there are a lot of coverages available to you. It’s important to consider all of the types of protection that you might need. After all, as a truck driver, you’re carrying valuable and essential cargo.