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Every delivery driver knows how important it is to ensure the cargo in the back of the truck is OK. Small truck insurance and delivery insurance can cover a few things, but how does it work when it comes to cargo?
Standard Auto Policies
Standard commercial policies usually cover the vehicle itself. They may cover other people’s damages if you are found at fault for the accident. Most small truck insurance/delivery insurance policies are just standard commercial policies, so they may not cover cargo. Those that do will likely have a lower coverage limit. Ask an agent at Choice One Insurance Inc. if your insurance covers cargo.
Cargo Insurance
If your current policy doesn’t cover cargo, you can get cargo insurance. This is an add-on for commercial auto policies. It will cover lost or damaged goods, and often covers items such as theft. Although policies do have a limit, it’s usually higher than the limit for cargo on standard auto policies.
High-Value Items
Many policies specifically exclude high-value items, such as jewelry and electronics. These items are more likely to be stolen and are more expensive to replace. It’s common for companies to require additional coverage because you’re more likely to file a claim if you’re hauling high-risk items.
At Choice One Insurance Inc., we understand the importance of ensuring that your cargo is properly covered. Customers can file lawsuits, putting your assets at risk. We’ll review your policy and discuss what cargo you’re carrying to ensure you have proper coverage. We can also discuss coverage for high-value items. Contact us to learn more. We’re currently serving the Portland, OR, area.