Get Comprehensive Protection for Your Shipment with Cargo Insurance
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In the competitive world of commercial trucking, having the right insurance is essential for protecting your business and meeting the requirements of risk managers. With so many options available, it can be challenging to find the best fit for your needs. In this article, we will explore six top brands offering Motor Truck Cargo insurance and their unique features, coverage options, and costs to help you make an informed decision on the best policy for your business.
Progressive: Comprehensive Coverage and Customizable Limits
Progressive's Motor Truck Cargo insurance offers protection for your liability for cargo that is lost or damaged due to causes like fire, collision, or striking of a load. With Removal Expenses coverage, they pay for debris removal or pollutant extraction, while Sue and Labor Coverage and legal expenses protect against further loss to damaged cargo. Earned Freight Coverage even covers lost freight charges due to undelivered loads. You can customize your coverage limit and deductible to suit your needs. To get a quote from Progressive, you can visit their website or call 1-888-806-9598.
The Hartford: Flexible Coverage and Wide Risk Appetite
The Hartford offers flexible coverage options and a wide risk appetite, serving all 50 states, Canada, and Puerto Rico. They can cover temporary storage, loading, and unloading, with separate limits available by shipper or trip. Despite a slightly above-average complaint ratio with the NAIC, they are ranked #1 by Keynova Group for small commercial insurance. To get more information on their costs, you will need to work with an agent and call for more details.
State Farm: Nationwide Availability and High Customer Satisfaction
State Farm provides Motor Truck Cargo insurance in all 50 states, with a high complaint ratio with the NAIC. However, they ranked 2nd in the 2022 JD Power survey on customer satisfaction for service and received an A++ rating from A.M. Best. To get a quote from State Farm, you will need to work with an agent and call for more information.
CoverWallet: Best Value and Convenient Online Platform
CoverWallet offers an easy-to-use platform for purchasing commercial truck insurance online, with the entire process taking just minutes. They provide a wide range of coverage options for various commercial vehicles, and if the price is your top concern, you might find basic coverage for as low as $125 a month. To receive a quote from CoverWallet, simply visit their website.
Sentry: Comprehensive Protection for Various Losses
Sentry's motor truck cargo insurance offers protection from a variety of losses, including coverage for mechanical reefer breakdown, debris removal, and uncollected freight charges after a covered loss. They are dedicated to helping protect your investment and keeping your business going strong. To get a quote from Sentry, visit their website.
Evolution: Specialized Coverage for Unique Needs
Evolution Insurance Brokers (EIB Direct) is a lesser-known company specializing in trucking insurance, including long- and short-haul trucks, fleets, motor truck cargo, and more. Partnered with high-end insurers like Lloyd's, their coverage exceeds federal limits of $750,000. While they can be more expensive than other insurers, EIB is a viable option for those who cannot get a standard commercial trucking policy with a more traditional insurance company. To receive a quote from EIB, visit their website.
Choosing the right Motor Truck Cargo insurance for your business is crucial for protecting your assets and meeting industry requirements. With a variety of options available, it's essential to carefully consider each brand's unique features, coverage options, and costs. By evaluating the offerings of Progressive, The Hartford, State Farm, CoverWallet, Sentry, and Evolution, you can confidently select the best policy for your business's needs and ensure a secure future in the commercial trucking industry.