Do you know what the difference is between cargo insurance and cargo liability insurance? Unfortunately, not many people know the big difference in cargo insurance and contingent cargo insurance or liability.
Cargo liability is insurance for motor truck cargo insurance on freight or goods that are hauled by a for hire trucker. This applies to general freight. This insurance covers the liability of cargo that is damaged or lost due to fire, collision, or striking of a load. If you are looking to start your trucking business, cargo liability insurance is essential and mandatory by the D.O.T to operate. This provides you protection to start your operation regardless of the commodity or goods that you are transporting.
Now cargo insurance or freight insurance that Ramon Insurance provides is full replacement value insurance for the goods all risk from origin to destination. We offer all risk cargo insurance for your goods so that if any damages happen to it, your goods are protected. If you have multiple shipments of the same good, we offer an annual policy or multiple shipment policy.
We also offer additional cargo insurance which supplements your current policy, let’s say you already have existing cargo liability insurance for $100,000.00 and you need additional insurance for $400,000.00, we can provide you that additional insurance for a lower rate than your existing insurance.
Ramon Insurance has been in business for over 31 years. We provide free consultation by experts who have been insuring billions of dollars of freight every year. Feel free to contact us!
Written by Iris Arden (Ramon Inc.)