If you are a commercial truck driver, you need to invest in motor truck cargo insurance. There are plenty of things that can go wrong, from accidents to breakdowns. The vehicle isn’t the only thing that can be damaged, too. Cargo also needs to be insured to cover the driver in the event of lost or damaged cargo.
There are different levels of coverage for cargo insurance, and the type a driver gets depends on numerous factors. The size of their truck, the size of the cargo, the type of cargo, and more go into determining the amount of coverage you need. For example, if you are shipping something with less value, you may need less coverage.
Another factor in play is the number of trucks used. If the trucker works for a larger company, the driver may be able to get more robust cargo insurance coverage at a lower price. Private truck drivers may need to pay proportionally more for coverage on a single truck.
You can also base the price on the gross revenue of the company. This is a good policy if the carrier has a large fleet of trucks or if the cargo will switch from one truck to another at various points on its journey.
For more information, check out the video above!