There are many important factors that commercial car carriers must consider when they’re selecting insurance. When you’re getting coverage for your vehicles that are used for transport, you need to get policies that will comply with all applicable regulations and also address the full scope of your liability exposure.
Regulatory Considerations
Coverage for car carriers may be regulated by the state in which they base their operations. However, depending on a carrier’s cargo and activities, it may be necessary to obtain coverage that is greater than minimum regulatory requirements.
Liability for Damage to Cargo
A car carrier can be liable for any damage to cars that it is carrying. It’s important that its liability insurance is adequate to cover the full value of potential damage to its cargo.
Third-Party Liability
Even the most experienced drivers could be involved in an accident with another driver. Regardless of who is actually at fault in an accident, a semi driver’s liability could be significant.
Equipment Malfunction
A fault in the equipment that secures and unloads vehicles could result in an accident that causes serious property damage or personal injury.
Insurance is an integral part of a car carrier’s risk management plan. It’s advisable to work with an insurance company that is experienced in serving clients in your field and can help you obtain the right coverage.
