When Is Excess Cargo Insurance (And More) the Right Business Decision?

Hauling chemicals and hazardous materials adds an extra layer of danger to an already risky industry, and that can make finding coverage hard to find. But your business needs the right truck insurance so it can compete for profitable contracts, keep employees safe, and not be swamped with the administrative burden of claims.

How to Keep Your Trucking Business Healthy and Safe:

Add excess liability coverage and use industry standard minimums instead of the bare minimums.

Hazmat trucking has a lot of potential risks, both for your business and for you and your employees. Make sure you have enough excess cargo insurance coverage for the common risks and injuries for your market, especially if you transport chemicals that are dangerous to people simply through exposure. Having extra coverage helps protect your trucking business from the worst, and it also shows potential clients that you consider safety a priority. In fact, many government and corporate contracts require insurance limits above state and federal requirements, so adding extra coverage (such as excess cargo insurance) can find you new business.

Protect your equipment, not just your truck. 

If you lease a truck, then truck insurance is probably a requirement under your lease, and insurance minimums are mandated for truck owners, too. But many small companies leave their specialty equipment for loading and unloading, cold storage, and safe containment off of their policies. Make sure all of your assets, not just your vehicle, are protected from the dangerous shipments you carry with excess cargo insurance.

Go to LOGISTIQIns.com to learn more information about protecting your cargo and your trucking business with excess cargo insurance.