For trucking companies, cargo is the most important part of business. Without cargo, there would be no need for commercial trucking. As such, truckers take care to protect and safely transport goods when they are on the road. Unfortunately, accidents do occur and are sometimes unavoidable.
When this happens, cargo may become damaged. In some cases, the trucking company may be held liable for the damage sustained, especially when it is transporting cargo for another person or company. Depending on the type of cargo, this could mean thousands of dollars in unexpected expenses.
Luckily for truckers, though, they can purchase cargo insurance to protect themselves from the damage that may result from an accident. This is helpful for a number of reasons.
When a trucker is at fault, then his or her company will be liable for the damage that occurs to the cargo without question in most cases. In some instances, trucking companies may face severe financial hits that can disturb or even shut down operations, effectively putting a company out of business.
When another driver is at fault, then he or she may be liable for the damage that the cargo endures. Unfortunately, many drivers are under-insured for this amount of damage. This means that the burden may be passed on to the trucking company, leaving it with substantial debts.
Cargo insurance, on the other hand, negates the effects of both of these situations. It covers truckers and their employers when the trucker is at fault in an accident, and some policies even cover trucking companies when their truckers are in accidents with under-insured motorists.
If you are currently looking to add cargo insurance coverage to your trucking insurance policy, get a free quote from the Chicago truck insurance experts of Insure on the Spot today.