As an owner/operator or fleet motor carrier, there are lots of things to consider when making a choice about insuring your load. Key determining factors are the style of transportation, the linehaul (the pick – up and delivery points), the kinds of merchandise you are going to be transporting and the value of the cargo.

Consider these objectives:
Standard Liability Protection – Your load will likely be dealt with under FMCSA regular legal obligation which you need to have as an operating authority even if you really do not choose to get load coverage. Freight conventional insurance is $750,000 to $5,000,000 with respect to the commodities transported and $300,000 for non-hazardous freight moved in vehicles under a 10,001 pounds weight. Cargo normal insurance is $5,000 per car, $10,0000 per incident.

National loads: $0.50 per lb per $100 minimum if the load value exceeds $100.

Global freight: $20 per kg of actual load value if under $20 per kg.

Worldwide sea freight: $500 per load unit. In the event of partial loss/damage of the strain, a claim might be made simply for the damage/loss piece, subject to the settlement level of $0.50 per lb.

CIF value (cost, insurance and freight). This protection assures replacement of the freight shipping cost along with the load if the load is broken or there is total loss of the load. In the event the repair / replacement is unable to be done at the load destination this insurance is mandatory with load injury or loss. Freight charges could be prorated and recovered based in the lost / damaged piece of the load but freight charges are nonrefundable if there is damage along with the repair occurs in the load location.

Load Insurance Only – Request this coverage to make sure the replacement value of your load in the event of partial or complete loss/damage.

Damage Control – Any incident regarding damage or total reduction of the load should be said in the bills of lade. All parties involved with the cargo ought to be informed along with your insurance must be present in order to correctly file a claim. Adequate Coverage – If your load is underinsured, a claim can exclusively be settled for the percent of coverage of the load. The strain should be insured based on its proper value.