Transport and logistics companies are known to transport different things and cater to different needs. This means that blanket insurance isn’t enough to cover the liabilities, claims and potential damages they might be faced with in the event of an accident – and there are specialized insurance policies in place that can help cater to the needs of these companies better.
Home contents insurance is there to insurance the contents of the average home against the potential of damage that it might face in the event of theft or certain other environmental factors specified to each individual policy.
The same way, hot shot insurance is for hot shot trucking and transport providers, while car hauler insurance caters specifically to companies that haul cars from one destination to the next.
Being a car haul company, it means that you are exposed to different liabilities, potential claim scenarios and dangers to everyone else on the road.
You can confidently say that you don’t have the same risks (or the same needs) as other logistics or trucking companies that might carry goods on refrigerated (thus, cooled) trucks, on one-tonner trucks or on big freight containers.
That’s the simple reason why you need car haul company insurance if you are a car haul company.
It’s a Concrete Jungle Out There…
We all know the song – at least, most of us can still remember it. The truth is that it really is a jungle out there: One that’s filled with disorder and confusion, but also one that has the potential for damages claims.
The world can be a scary place.
It can be a particularly scary place for any company that makes their money from time on the road.
If you are a car hauler, it’s guaranteed that you…
– Risk your vehicle getting in an accident on the road, whether your fault or not.
– Risk your vehicle being stolen or damaged.
– Risk your drivers being injured, whether by fault of their own or not.
There are more risks involved if you are a car hauler. Not only are you taking responsibility for your driver, your vehicle and everyone they encounter, you could also take responsibility for cargo damaged or lost in any accidental event.
Even if your drivers are completely responsible and accident-free for the past X amount of years or weeks, someone else could cause an accident – and if you aren’t insured, you could have to pay over in cash.
Most logistics and trucking companies should be insured – and should be sure that the type of insurance fits their type of cargo or company.
Don’t Assume You’re Insured!
Already-insured companies shouldn’t assume that their blanket insurance policies cover everything. Instead, check – and read the fine print and terms & conditions for your individual insurance policy to be 100% sure.
The biggest mistake for companies can be thinking they’re insured when they’re not, or assuming their insurance policy covers things it does not.