Trucking businesses are considered by a lot of people to be the backbone of the United States. This is due to the extremely important role they play in transporting important cargo of all kinds across the United States. However, if you run a trucking business, it is important that you make sure you have all the necessary insurance coverage. A big part of this insurance coverage is cargo insurance.
What Is Cargo Insurance?
Cargo insurance is a type of insurance coverage designed mainly for trucking businesses that can cover any costs associated with damaged or lost cargo. It will cost you a small monthly or yearly premium, however, this premium pales in comparison to the money you could lose if you run into unexpected problems without insurance.
How Much Does Cargo Insurance Cost?
Unfortunately, there is no one set monthly/yearly cost for cargo insurance. The cargo insurance quote you receive is determined by your insurance provider and they look at a variety of things to decide this. Some of the things they look at are:
- Your location
- Your claim history
- Your coverage needs
Running a trucking business can open you up to a lot of financial risks, especially when it comes to the cargo you are transporting. Cargo insurance can help.