If you work in the transportation industry you will need transportation insurance coverage that protects your vehicles and cargo. Your coverage should also give you the flexibility to be compatible with your profession and lifestyle.
No matter if you drive a long-haul truck with cargo across North America or if you drive a limousine and are just transporting people from one place in town to another, you need insurance coverage that addresses your needs. You will also need an insurance broker with the required experience and access to commercial insurance companies to give you the best advice and coverage. The types of vehicles that need this specialized insurance coverage are:
Transportation Insurance is a broad term and can include many different types of coverage, including:
Cargo Insurance – cargo insurance covers damaged or stolen cargo while it is under the care of your company or vehicle. If you are shipping something then you may also want to make sure that you have insurance on the property that is being transported. Transportation companies, or carriers, have only limited coverage so taking out insurance on your freight can offer you the coverage you need.
Fleet Insurance – fleet insurance is for companies that have 5 or more vehicles that need to be insured. Having fleet insurance can potentially provide discounts.
Commercial Vehicle Liability – commercial vehicle liability covers and damage to another’s property, whether a vehicle or not. Any damages caused by your vehicle can be covered under your insurance.
Physical Damage Insurance – physical damage insurance covers to the transporting vehicle by another vehicle, an accident or by another person’s negligence.
Reefer Insurance – reefer insurance covers damage or loss to any refrigerated cargo.
General Liability – general liability insurance can cover any damage done while an employee is operating a company vehicle.
Your transportation company’s premium is determined by the insurance company. The insurance company will consider factors which will affect the increase or decrease of your premium, including. the chances that a loss will occur and its potential size. The following items are some key factors affecting your chance of having a loss and, therefore, the premium you will pay.
What You Haul
Years of Driving Experience
Where You Drive
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