Having a strong Contingent Cargo insurance policy is one of the best ways to keep your trucking business safe against having to pay for accidental losses yourself. Accidents, injuries, and losses that would normally be addressed by a trucker’s insurance agency sometimes aren’t. This can happen for a number of reasons, such as the insurance agency going out of business. If this happens and the trucker isn’t able to assume their share of the responsibility, you’ll need that Contingent Cargo policy to keep you safe from absorbing the loss yourself.
This special kind of insurance policy addresses those unexpected and unforeseen circumstances that can sometimes come up in the industry tasked with moving goods safely from one place to another. This industry and the people who run it face certain risks that businesses in other industries don’t. In addition to communicating with the insurance agency that provides business insurance, you have to cooperate with the trucker’s insurance agency in case of an accident or loss. If something happens to interrupt this line of communication – if the other agency is slow to respond or if the trucker in question isn’t cooperating – liability can fall on the shoulders of a business owner. And this is why an extra layer of insurance protection is so important.
To make sure you’re not stuck in a position of assuming responsibility for a loss that wasn’t yours, strongly consider having a Contingent Cargo policy.