Motor Truck Cargo

Motor truck cargo insurance provides legal liability coverage for truckers, whether common or contract, while they are transporting property of others. The policy protects the trucker and the cargo from damage, destruction, or other loss of the customer’s property being shipped. This includes lost packages, broken contents, and stolen articles.

The types of insurance forms can be narrowed down to “scheduled” or “composite.” The composite form will charge on revenue/miles/units audited at end of year. The scheduled form looks at each unit individually. The composite can be used when looking to add new and/or replacement trucks during the policy terms, while the scheduled form is able to better control the number of drivers for example. Both have benefits depending on the size of the fleet, number of drivers (and experience) and the units of cargo.