cargo

Being a commercial truck driver means hauling loads of cargo, which can involve lots of responsibility. When you’re hauling anything from cars, personal possessions, or hazardous materials, it’s important to keep your cargo safe. The type of insurance you need may vary from each truck. Therefore, it’s important to know the potential risks and try to prevent them.

The articles below outlines the types of insurance you’ll need for your cargo. It will also talk about why each commercial trucking business needs proper insurance. As well as how to lower the rates on your insurance coverage. We’ll also cover topics on how to prevent mishaps like damage and theft to your clients’ goods, how to grow your trucking business, the little known risks of transporting goods in the industry, and what you can do as a commercial vehicle owner or fleet manager to keep your trucks in great working condition.

What to Do When a Receiver Rejects a Cargo Load

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cargo load

Oftentimes, when a receiver rejects a cargo load, it costs a significant amount of time, fuel, and transport products. From the viewpoint of sustainability, it may negate some prior fuel efficiency and cost savings.

It doesn’t end here, some carriers may end up canceling their next shipment. As a result, they’ll need to spend a lot of time and effort in rerouting. It can very well hold up the entire disposition process of the trucks for months in many cases.

Moreover, if you look at the problem from the perspective of shippers, even a single product rejection incurs additional shipping costs and may cause the entire truckload to go to waste. To make the matter worse, this may strain the relationship with the carriers and receivers.

Getting your cargo load rejected by the receiver can be a headache if you don’t know how to deal with it. Here is what you need to know.

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Canal Insurance Company Improves Credit Rating

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Did you know that recently AM Best improved Canal Insurance’s financial strength rating from a B++ (good) to A- (excellent?)

It has an impact on the long-term insurance rating of Canal Indemnity and Canal Insurance, collectively known as “Canal Group”. The improved rating shows the strength of Canal’s balance sheet. AM Best has determined their sheet and credit rating as stable and stronger in contrast to their previous ones.

In addition to the balance sheet, Canal Insurance Company has strengthened its limited business profile, operating performance, and enterprise risk management. Typically, the upgraded ratings reflect an improvement in operational performance. These took place due to re-underwriting initiatives the management introduced many years ago.

Management is now manifesting these initiatives shown in reported results. The management used to be more conservative in terms of reserving practice and eliminating the past year’s reserves loss development. However, things have changed significantly with their strengthened financial position.

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Who is required to carry cargo insurance?

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It's important to carry cargo insurance.

While all motor carriers must carry a limited amount of liability insurance, this is only the basic requirement and it offers no protection for the goods you carry. You need to carry cargo insurance to guard against financial loss from damage to your cargo while in transit or storage. The Federal Motor Carrier Safety Administration (FMCSA) requires truckers who transport household goods and freight forwarders of household goods to carry at least a minimum amount of cargo insurance in case the load becomes damaged or destroyed due to situations beyond the trucker’s control.

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Can I get my own primary liability and cargo if I’m leased to a motor carrier

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If you're leased onto a motor carrier, you need to make sure you have the right primary liability insurance and cargo insurance.

Primary liability insurance is the only coverage for commercial truckers mandated by the Federal Motor Carrier Safety Administration (FMCSA). This is basic coverage and proof of financial responsibility that you must have before you can drive. The purpose of primary liability insurance is to cover claims for bodily injury and property damage that you cause to others while operating your vehicle. It does not cover any losses that you suffer, regardless of who was at fault for causing them.

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5 Safety Tips for Lowboy Trailers

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It's important to keep safety in mind when you're driving a lowboy trailer.

If you’re hauling on lowboys, you know that no type of equipment, machinery, or industrial vehicle you haul is ever quite the same. You’re naturally a problem solver. Every day, you have to put your knowledge of synthetic webbing, winches, ratchets, friction mats and more to work so that you can make sure every load safely reaches its destination. You recognize that it’s not only the cargo at stake – it’s also the safety of everyone on the road and your business’s reputation.

So, here are 5 safety lowboy trailer safety tips that can be vital to protecting your cargo loads and your business.

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What Kind of Insurance Do You Need for a Dry Cleaning Van?

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dry cleaning van

Dry cleaning is a $9 billion industry where service is everything. Delivering a consistent customer experience earns you repeat customers and referrals. So, it’s important to keep your dry cleaning vans covered and on their routes to give your customers the best experience. That’s why it’s important to have the right insurance for your dry cleaning vans. In the event of a loss, it gets your vehicle back on the road fast and protects that precious cargo that your customers have entrusted to your capable hands.

But what type of insurance do you need for dry cleaning vans? Let’s take a look.

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How to properly load your truck for safe transport

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Securing your truck's cargo properly can help you avoid accidents.

Imagine looking in your rear review mirror and seeing your cargo spill onto the roadway. A scenario like this could result in a serious accident. A vehicle might swerve into oncoming traffic to avoid hitting the cargo. Or, perhaps a car runs over your spilled cargo, which causes the driver to lose control. Either of these scenarios could happen if you fail to properly secure your load.

Aside from causing accidents, improperly secured loads can hurt your vehicle’s performance. It can affect your braking, speed, and steering control. It can make loads shift or roll back and forth in your truck. We’ll go over some common loading problems and how to properly secure your load.

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How much cargo insurance does your trucking business need?

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General liability and auto liability insurance are not the same thing.

You have cargo insurance and understand its importance. You’ve evaluated the risks of carrying products. The goods your drivers transport in the trailer may even exceed the value of the truck itself. And in some cases, the cargo you carry isn’t that high-priced. In these cases, you could be carrying cargo insurance with limits you’d never reach.

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How to prevent truck cargo theft while you’re on the road

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You can lower the cost of long-haul truck insurance with these tips.

If you’re a trucker, your business depends on getting your cargo from Point A to Point B. Unfortunately, unscrupulous cargo thieves often have different ideas. Finding out that your semi truck or box truck has mysteriously driven itself away (or that the trailer has mysteriously unloaded itself) is enough to ruin a perfectly good day. Not to mention that you have to explain to the client that their load is missing in action. Cargo theft is more common than you might think.

But not to worry – we’ve got some tips to help you prevent cargo theft.

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