With billions of dollars of cargo crisscrossing our nation’s highways each year, trucking carriers and owner-operators face enormous risks on every run. They assume a huge financial responsibility for the property they haul. Anything from an accident to theft, or a refrigeration breakdown, could result in serious financial loss.
Cargo Advantage® provides a customized solution to protect your clients, from single unit owner-operators to large fleets, from such financial loss. Cargo Advantage helps keep your clients rolling with peace of mind, providing broad protection against risks uniquely associated with transporting cargo.
Advantages
- Ability to fit the needs of any size carrier, from a single unit owner-operator to 100+ unit fleets.
- Scheduled vehicles or blanket coverage based on mileage revenues.
- Broad definition of transit, which includes loading & unloading.
- Limits and deductibles that can be customized to best fit the needs of your client.
- Coverage endorsements and policy language created to meet the needs of specialized operations, including:
- Automobile Carriers
- Courier Operations
- Household Goods/Furniture Movers
- Mobile Home Movers
- Wrecker/Towing Operations
- Owner-Operator/Subhauler
- Low minimum premium
- Dynamic rating methodology that rewards insureds for years in business, good loss experience and maintaining good safety ratings.
- Claims are handled by our own in-house team of cargo claim experts.
- Our staff of loss control experts will work with you to help improve the safety and security of your operations for better risk management and cost savings.
The following coverages and limits are included with every policy. Limits can be increased to meet the needs of your clients.
- Debris Removal, Towing, Traffic Control & Security - $10,000
- Reloading Expense – $5,000
- Pollutant Clean Up – $10,000
- Earned Freight Charges – $10,000
- Fire Department Service Charges – $10,000
- Loss Data Preparation – $1,000
- Reward Coverage – $2,500
- Refrigeration Breakdown
- Non-Owned Container and Trailer Interchange
- Owner Operator or Subhauler under Contract or Lease to a Motor Carrier
- Reusable Packing Containers
- Tarps, Chains and Moving Equipment
- Owners Goods Extension
With our Cargo Advantage® – Diminishing Deductible Endorsement (CM 89 50, Ed. 11/22), your Motor Truck Cargo deductible can decrease over time. Stay loss free and your deductible decreases by 25% of the original deductible amount at each renewal until it reaches $0. If a covered loss results in payment, the deductible resets immediately after the loss to the original amount for the remainder of the term and for the next renewal.
How it Works:
- Original deductible: $1,000
- Annual reduction (loss free years only): $250 (25% of the original deductible)
- Reset rule: Any paid loss resets the deductible to $1,000 for subsequent claims during that term and for the next renewal.
Important Notes:
- Diminishing deductible does not apply to separate deductibles for Optional Coverages.
- Actual claim payments are subject to all policy terms, conditions, limits, and applicable endorsements.
If you have questions or would like customized examples for specific accounts, contact your P&IM representative.