Temporary cargo insurance
 

Anyone know where I can temporary cargo insurance. I have $500,000 but need $200,000 more

Steve The company that I have my truck insurance through has told me that if I ever need more cargo insurance for a special load that they could write a rider for the time I have the load on. For a fee I am sure.
Mike

They all do that but they all have a limit of $500,000 like Northland who I have.

Doesn't matter now. They broke the load up into small $100,000 LTL ones paying nothing.

Landstar just called with a load to Florida for $1.25 per mile!!!!

Hey you should jump all over that $1.25 to Florida, Steve. :P

C'mon down to Sunny Florida, you can test you A/C unit out big time!!!

Going the opposite way. I got 2 LTL's going to Washington state. At least I got to test out if the unit is water tight. We had days of rain here in New Hampshire and it was wicked for sure.

I was up in Lawrence, MA for that wicked rain. I was thinking about you. How far was I from you in good ol NH?

That's where I loaded on Thursday. Did you get caught in the 495 south bound traffic? A semi just drove across right through the barrier and hit a pickup head on killing the driver.

You were about 15 minutes from where I live.

Cool, I didn't know I was so close to where you live. I was up there on Friday. I was picking up a CH load of vermiculite to bring back to the Island for Sat. delivery. I was calling out on the cb, has anybody seen Steve Booth. :D Nobody answered though.

lol....that's because nobody wants to admit they know me.

If you ever need to up your cargo insurance check with Lloyd's of London. They will write higher levels of insurance. I had something once where I needed $1MM in cargo. Lloyd's would write it. Your insurance agent should be able to write it through them.

A little off topic, perhaps, but I hauled a load about a month ago that had me wondering about cargo insurance. It was three military communications trailers to Fort Hood, TX. The shipper told me that each of the trailers sold for about $300,000. When I got to the base in Texas, I relayed this info to the contractor in charge of receiving the equipment. He snickered and said, "Try $1,000,000 apiece."

Either way, I was hauling property far in excess of my cargo insurance limits ($100k) but the broker on the load never asked for extra coverage. I realize that if I had been in an accident and the equipment sustained damage that it is unlikely that it would have been a total loss unless they caught fire. But still, it made me uneasy. What would have happened in the event of an accident? I don't think it would have taken much damage for the value of it to exceed my coverage.

I have had equipment and other types of freight which far exceeded the limits of my cargo insurance. If all of these shippers wanted you to have sufficient insurance to cover their cargo they would insist that you have it. The problem comes in when you quote them the rate. $1MM extra cargo insurance would cost me about $3,600 just to cover a single shipper. Rates could vary according to the type of freight and where you plan on running. Sometimes the extra cost isn't worth it. Shippers would need to pay higher rates to make it worthwhile for the carrier.

You don't need the extra insurance for the whole year. When I bumped mine up to $500,000 once it was $18.00 per $100,000 for one week.

The $1MM coverage that I was looking at was for the year. I had a shipper that I was considering doing business and it would have been a regular gig.