Insurance products for commercial types of vehicles may differ in protection coverage compared to a regular auto insurance policy. If you are planning to buy a perishable cargo insurance policy for your cargo vehicle, here are a few things that you need to be aware of.
You need to be sure you are buying the right protection coverage
Yes, this is imperative when buying your first insurance policy for your commercial vehicle. You need to make sure to buy the right protection coverage to avoid wasting your money on useless protection cover that you don’t actually need. Keep in mind, your needs as owner and operator of a perishable cargo truck are more complex than the needs of an individual driving his or her own personal car.
Cost of comprehensive protection coverage may be higher
Another concern that you need to be completely aware of when buying perishable cargo insurance, especially when considering a comprehensive type of protection coverage, is the cost of the insurance premium may be a lot higher compared to an ordinary individual. Accidents on the road, like a collision with another truck or cargo vehicle, could happen anytime and if you aren’t adequately protected with the appropriate cover, there is a possibility of shouldering the financial burden on your own.
Weigh-up the risks involved before making a decision
Lastly, for peace of mind that you are completely secure against all kinds of risks while on a delivery trip, weigh-up the risks associated with your perishable cargo like damage to loads, potential issues of theft or vandalism, third party liability, physical harm and damage to property. Once you’ve assessed the amount of harm to your business is massive if you continue to do business without a perishable cargo insurance policy, then it’s time to talk with an insurance provider and find out how you can protect your cargo against all risks.
Common types of protection coverage for your perishable cargo insurance:
General freight coverage
This type of protection covers any potential loss, damage or stolen cargo and is intended to protect the owner or company owning this commercial vehicle.
Another type of protection coverage that you can add onto your proposed perishable cargo insurance policy is primary liability. This type of protection extends to the cost of damages resulting in physical injuries acquired during an accident involving the perishable cargo vehicle. It may also cover personal damages if you are driving the cargo and deemed to be at fault of the incident.
Among the best types of protection coverage packages is comprehensive coverage. Here the protection is more focused on your personal losses as owner and driver of the cargo, regardless of whether your vehicle is at fault. Repairs and replacements of broken parts of the cargo are fully covered.
Other types of protection
Other types of protection may include cover for non-trucking liability, haulers’ trade cargo and separate cargo for independent traders and operators who are operating without any contract of agreement.
Truck Insurance HQ are Market leading brokers in the truck and transport sector and are able to get you the best Perishable cargo insurance to suit your needs. Call our team today on 1300 815 344 or go online and request a quote.