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Truck Freight & Cargo Insurance
BROAD CARGO COVERAGE
INSURES FREIGHT + CARGO YOU HAUL
Cargo insurance, sometimes referred to as freight or inland marine insurance, provides financial protection for motor carriers that haul freight and commodities on behalf of their clients.
Cargo insurance provides coverage for damage to freight and cargo by fire and collision, as well as other perils you face while on the road, such as hitting, running over, or striking your load.
It activates when covered cargo is damaged or lost while you are transporting it under a bill of lading or shipping receipt. It also insures cargo when it is being loaded, transported, and unloaded, and while you’re at a terminal or dock waiting for the recipient to sign for it.
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WHY YOU NEED CARGO INSURANCE
A motor carrier is liable if the cargo they are handling is damaged, lost, or destroyed. Cargo coverage, sometimes referred to as truck cargo coverage or inland marine coverage, provides you financial protection to cover the cost of the cargo, cleanup, pollution removal, and more.
Many clients require for-hire truckers to carry Cargo coverage to insure their loads while you’re transporting for them.
WHY YOU SHOULD CHOOSE GREAT WEST’S CARGO COVERAGE POLICY
We’ve found that more than any other type of trucking insurance, Cargo coverage varies widely among insurance carriers and is often notable for what is not covered.
At Great West, we provide Broad Form Cargo insurance — which means we cover many losses that other insurers exclude.
Our Cargo coverage includes payments for:
- Unrecoverable freight charges after a loss
- Loss-recovery expenses in addition to the limit
- Clean-up and pollution-removal expenses up to $10,000 in addition to the limit
None of the following are excluded from our Cargo insurance:
- Alcohol products
- Cargo in transit for more than 72 hours
- Consumer electronics
- Marring, scratching, packing, and rough handling, unless shipper error
- Wet loads
- Mysterious disappearance or pilferage, including from an employee when the Infidelity or Dishonesty Extension is added
- Involuntary parting with the cargo by fraud or trick
- Refrigeration breakdown, failure to fuel, or maintenance of refrigeration equipment
- Spoilage
Great West’s Cargo coverage does NOT warrant or mandate:
- That cargo must be attended at all times
- A coinsurance penalty for underinsurance
- A locked vehicle warranty
- An equipment maintenance warranty
- A tarped load warranty
- Reduced limits for certain commodities
GREAT WEST WORKS TO MINIMIZE YOUR CARGO LOSSES
Our unique claims-handling process allows us to help you minimize your loss because we make the recovery and salvaging of your cargo our priority.
learn moreGREAT WEST CONSOLIDATES YOUR DEDUCTIBLE
When you have an accident that damages your tractor, trailer, and cargo, you would typically have to pay three deductibles. At Great West, we provide a Single Deductible endorsement at no cost to you. That means one Physical Damage deductible applies to a single-unit loss involving covered cargo, a tractor, and a trailer. Instead of a deductible applying to each of these, only the highest single deductible of the three applies when the loss occurs away from your premises. This can save you substantial out-of-pocket costs.
PROTECT YOUR TRUCKING BUSINESS
GET CARGO INSURANCE FROM A COMPANY THAT UNDERSTANDS TRUCKING.
CUSTOMIZE COVERAGE TO YOUR OPERATIONS
CARGO COVERAGE OPTIONS
Talk to your Great West agent today about ways to customize your Cargo coverage to reflect your trucking business operations. Here are some of our optional coverages to consider.
HIRED AUTO CARGO COVERAGE
This coverage extends your Cargo protection to loads for which you are responsible under a bill of lading. Examples of situations that would need this type of coverage to broaden your truck's Cargo policy:
- You borrow or rent an additional unit
- You ask another truck professional who has limited, if any, Cargo insurance to haul a portion of your goods
- You allow another motor carrier to “trip lease” to haul freight under your authority
INFIDELITY/DISHONESTY COVERAGE
This coverage extends the truck Cargo coverage to protect you from losses due to the dishonesty of an employee or an owner-operator driver while the property is in/on a truck or trailer.
Your questions about trucking
Frequently asked questions
Cargo insurance policies may require specific security and safety measures to maintain coverage during transit. These measures typically include proper securing of the cargo, adherence to safety protocols, and compliance with transportation regulations. Specific requirements can vary depending on the type of cargo and the insurer's guidelines.
This summary is intended for informational purposes only and does not replace or modify the definitions or information contained in any insurance policy or declaration page, which controls all coverage determinations. Terms and conditions may vary by state, and exclusions may apply.
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