Motor Truck Cargo Insurance

Motor Truck Cargo Insurance provides coverage on the freight hauled on a for-hire basis and covers liability for cargo that is damaged as the result of fire, collision or striking a load.

Some of the Cargo polices will include:

  • Coverage for unrecoverable freight charges after a loss.
  • Coverage for loss recovery expenses.
  • Coverage for cleanup and pollution removal expenses up to $10,000.
  • Single deductible for Truck, Tractor, Trailer and Cargo. Highest deductible will apply

The policy is purchased with a maximum load limit per vehicle. A commercial cargo insurance policy must be carefully considered before buying.  Under-insuring the load can prove catastrophic to you in the event of a claim. If you under-insure your cargo and suffer a loss it can seriously cripple your trucking operation not to mention damaging your relationship with your customer.

Who needs motor truck cargo insurance?

A growing number of risk managers require truckers to insure their cargo. You can meet that requirement with our Motor Truck Cargo Insurance. It pays when you are responsible for damage to or loss of the cargo due to fire, collision or even hitting or running over the cargo that you transport on behalf of a client.

Limits, deductibles, and other details

When you select Motor Truck Cargo insurance, you have to select a limit for your coverage. This limit determines the maximum amount your insurance company will pay for damaged or destroyed cargo. You also need to choose a deductible. A deductible is the amount you agree to pay out of pocket when you have a claim. Choosing a higher deductible is an easy way to lower the price of your insurance, but be sure you choose a deductible that you can afford to pay out of pocket at any time.

Exceptions and restrictions

Motor Truck Cargo insurance is only available for for-hire trucking risks on policies with one or more of the following body types: dump truck, tractor, most trailers, box trucks, cement mixers, cargo vans, dually pick-ups, flatbeds and car haulers.

Motor Truck Cargo insurance is not available on garbage trucks, limos, hearses, buses, passenger vans or ice cream trucks. The following cargo types are also excluded from coverage (other exclusions may apply):

  • Art, jewelry, money, or paper
  • Contraband, pharmaceuticals, tobacco, alcohol
  • Live animals
  • Property while in custody of any other carrier
  • Property or goods owned by the insured
  • Property not under Bill of Lading
  • Storage greater than 72 hours
  • Shipping containers
  • Explosive or radioactive material

Get a quote online or call us at 773-672-9739 to see how much you could save on Motor Truck Cargo insurance from American Eagle IG.