How Auto Transport Insurance Works
Every vehicle that is shipped on an auto transport truck is insured against theft and damage. Auto transport insurance is required by federal law and comes in two varieties, public liability insurance and cargo insurance. Both are required by car shipping carriers, but not by brokers, so if you hear of a broker offering insurance it is likely simply a ploy to take your money.
Public liability insurance covers the carrier in the event of damage happening to anything or anyone outside of the truck. For instance, if a carrier were to lose control of their vehicle and cause damage to buildings in an area as a result, their insurance would cover it. Cargo insurance covers the vehicles they are transporting. Carriers are required to have at least $750,000 worth of public liability insurance, though cargo insurance is a different story.
Cargo insurance coverage depends on the freight that the carrier is hauling. Most car shipping carriers will have at least a million dollars’ worth of cargo insurance, but companies that haul more expensive freight, such as enclosed carriers, may carry more. For a standard carrier hauling vehicles that see daily use, a million dollars should be more than enough to cover even the most gruesome damage. Damage during transport is rare, of course, and happens in less than 5% of all shipments, but it’s nice to know that you will be covered in case disaster strikes.
If you need quotes to ship a vehicle, fill out our free online quote request form to get multiple quotes from top-rated auto transport companies emailed to you within the hour. You can also call our toll-free telephone number at 800-930-7417 to speak to one of our live agents if you need further assistance.
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