As a motor carrier, you are responsible for any of the cargo that you carry. If something were to happen, say a fire or accident destroyed the cargo, then you would be responsible for the cost. That is, unless you have coverage. Here is what you need to know about the benefits of cargo liability.
The types of coverage
that you need will depend on a variety of factors. The most common types of coverage, explained by the experts at American team Managers
, are as follows:
- Water damage
- Equipment failure
For some carriers, you may also need coverages that cover debris removal. The coverages are heavily dependent on your mode of transportation, the length of your trips and the type of cargo that you deliver.
Insurance coverages are all about mitigating risks. Motor truck cargo liability provides you with protection from the most common problems you face on the road. If your cargo does not arrive as planned, then you could be liable for any damages. Without coverage, all of the damages have to come out of your pocket. You would also have to pay your legal fees to fight any lawsuits.
When it comes to cargo insurance, you need to have the appropriate coverages. It will cost you a lot less in the long run, if you have adequate protection.