Commercial trucking insurance is the only thing protecting you from the financial devastation caused by an array of hazards such as a broken loading strap or a blown truck tire on a blind corner. For Canada’s more than a quarter million licensed cargo haulers, clean-up costs, legal fees, and the replacement of lost or damaged cargo
can quickly take a toll on a carrier’s bottom line in the event of a collision, fire, or other type of accident.
Shifting business dynamics are driving changes in the trucking industry as cargo owners expect carriers to assume a bigger role in insuring cargo. In response, cargo haulers are tailoring their commercial trucking insurance policy to protect them from the threats they are most likely to meet while out on the open road.
Shifting the cost of doing business
Risk management experts looking to transfer the insurance costs associated with moving their goods to market are upending long held assumptions regarding who should bear the brunt of cargo insurance costs. Increasingly, they are looking to transfer those costs to your shoulders for the cargo during transit. For an industry used to paying as little as $2/pound for cargo insurance, you know that this added expense can seriously impact your operating budget.
More importantly, as a driver, you know what many commercial trucking insurance companies do not seem to understand – that not all cargo-hauling operations are created equally. Customizing a policy to cover against the individual risks associated with moving your particular load is critical to protecting your business without going broke. After all, hauling cows is vastly different from moving logs, and both are different again from the risks of moving high value electronics between point A and point B.
You want a commercial trucking insurance policy tailored to the risks you are most likely to confront out on the road.
Cargo hauling: commercial trucking insurance that works
Utilizing broad all-risk insurance coverage provides flexibility when limiting the costs of protecting your particular cargo load in transit. For instance, if your route forces you to leave your load unattended in a non-secured yard, you can tailor your policy to ward against such exposure from loss owing to theft or vandalism. Additionally, coverage can cover you and your cargo hauling company against a wide range of threats including wars, strikes, and trade disruptions that can have a deleterious effect on your business.
Customized quotes with no obligation
If you’d like to discuss which options might be best for your trucking operation, or you want us to get you no-obligation quotes from some of the top insurers in Canada, the commercial insurance experts at Mitch would be pleased to help you. Call us at 1-800-731-2228 or send us an email at email@example.com to learn more.