Commercial

Motor Truck Cargo Insurance

Motor Truck Cargo Insurance

Reassurance while you’re on the road

Now here’s an interesting fact: according to Statistics Canada the job of truck driver is the most frequently cited occupation of Canadian men. In fact there are over 227,000 Canadian truck drivers – making it one of the top occupations in the country. It’s these truck drivers who keep consumer and industrial goods moving across Canada and to and from the US. Unfortunately, things can go wrong for truck operators – and the cargo they’re carrying can get damaged or lost.

Whether the damage is caused by a collision, a fire, a load being accidentally dumped onto a roadway, or even being run over while waiting to be loaded, the related costs can be incredibly expensive. It’s not just the cost of fixing or replacing the vehicle, you’ll face. It may well be the additional costs of replacing the goods in transit, compensating the customer and supplier or paying for the clear up and associated costs of pollution and debris removal. Never mind any legal expenses. These costs can be crippling to any business. That’s why at Axis Insurance Managers we offer comprehensive Motor Truck Cargo Insurance.

Any goods which are being shipped are subject to a Bill of Lading. The bill is designed to protect the carrier, rather than the owner of the cargo and it stipulates very clearly the maximum amounts for which the carrier is responsible. These limits are very low if the goods are shipped by truck - typically the default on a standard bill of lading limits liability for the carrier to $2/lb. So if a Rolex watch (worth about $20,000) is lost in transit the carrier would only have to pay around $5 as compensation – a long way from its true value, because it is so lightweight. However, as part of their risk management strategies, more and more companies want truckers to insure their goods while they are in transit as it allows them to transfer the risk to the cargo carrier. Therefore the onus then falls on the transport company to have the right insurance in place.

Not all Motor Truck Cargo policies are the same. At Axis Insurance Managers we have many clients in the trucking industry so take a no-nonsense approach to our recommendations. We typically use broad all-risk legal liability coverage which has been specifically designed to cover the risks faced by a trucking company hauling goods. Here are a couple of examples of what that means in practice: we won’t recommend policies that exclude liability for a load if the power unit is detached from the trailer and the trailer is left unattended or where loads are not insured overnight unless inside a secure yard. In a nutshell, Axis Insurance managers will only propose coverage for our clients that will actually cover all the reasonable legal liabilities that a trucking company would expect to have covered, not just some of their operations. Our approach is firmly rooted in the real world – meaning you’re covered for the risks you’re actually likely to face in the regular course of your business.

By choosing a cost-effective policy from Axis Insurance Managers you’ll be able to rest safe in the knowledge that the cargo you’re carrying will be covered in case something happens to it while it’s in your care. Axis Insurance Managers can create stand-alone Motor Truck Cargo Insurance policies for your business or include it in a wider cargo and vehicle insurance portfolio. We can provide coverage for almost any type of cargo – from logging and drilling equipment, livestock, mobile homes to other vehicles being transported and certain types of dangerous goods. As you would expect, there are certain exclusions in a Motor Truck Cargo policy, which we would explain to you in detail to help you get the very best coverage.

Whatever your size of operation, your truck type(s) or the cargo you carry – Axis Insurance can help. You can count on Axis to give you the advice and protection to safeguard your cargo wherever you are.

Benefits of Motor Truck Cargo Insurance coverage from Axis Insurance Managers Inc. include:

• A specialist team with knowledge of all types of cargo, shipping and transit insurance
• All perils or comprehensive coverage
• Whatever your fleet size and whatever you’re carrying we will be able to help
• We can combine cargo and physical damage under one policy number
• Coverage available for cargo (road, rail, sea, post) as well as war and strikes risks, foreign inland transit, storage, exhibitions, stock throughputs and trade disruption on time-sensitive goods
• We can also provide terminal exposure to cover a trucking company that interchanges units at its yard or offloads goods for temporary storage incidental to transit
• Axis can also offer warehousemen’s insurance for storage that goes beyond the temporary offloading of goods
• We monitor all claims and work tirelessly to advocate on your behalf to ensure the claims process stays on track
• A truly tailored approach – we get to know your business and ensure your insurance matches your needs
• We will provide in-depth comparisons of insurers’ policy wordings and make recommendations
• We are constantly educating ourselves and staying ahead of market trends and developments
• Our relationships with insurers means we can negotiate special changes and policy features as necessary

As with every insurance policy there are different options, policy wordings, enhancements or amendments available. Your Axis Insurance manager will be able to help create a tailor-made policy to suit your exact requirements.

To find out more about Motor Truck Cargo Insurance, or to discuss your existing insurance policies, please give one of Axis insurance’s professional and experienced team members a call at 604.731.5328 or email: info@axisinsurance.ca. We would also be pleased to outline the benefits of Motor Truck Cargo Insurance with your management team or board members. If you would like to schedule a meeting or request an application form, please contact Tony Davis directly at 604.708.6249 or David Pocock at 250.763.4225.

Axis Motor Truck Cargo Insurance Specialists


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