Motorized truck cargo insurance ensures that your imported or exported freight is financially protected in almost any type of situation. Here we will explain which information you need to bring to fill out a motor truck cargo insurance application and how to reduce your premium.
Applying for Cargo Insurance
If the information you write down is inaccurate, the insurance company may raise your premium, deny coverage for claims or cancel the policy all together. Here are a few items you will need to bring or know to fill out your application.
- Your personal contact information
- Current insurance carrier information
- Records of cancelled insurance, bankruptcy, or authority changes in the past 3 years
- Exact model type of each vehicle to be covered in the policy
- Type of carrier work you do
- The entire operation radius in miles
- Average value of commodities hauled per load
- Type of terminal construction and address
- Records of any claims made
- Date of employment for each driver, their driver license numbers, minimum driving experience and violations within the past 3 years
- Schedule of power units or refrigerated trailers
Tips to Reduce Your Motor Truck Cargo Insurance Premium
If you want to keep your premium at a fair price, make sure the information wrote down is accurate to your company and isn’t over estimated. Sometimes when you fill out a motor truck cargo insurance application, you may feel tempted to over-dramatize a particular coverage area that is already covered fairly within the newly created policy.