Trucking Insurance coverage has many different levels of coverage for the driver, truck, and cargo. The basic policy for cargo is usually called S.G. Policy or the Ships and Goods Policy. While this will cover damage and loss to the cargo caused by particular circumstances, further protection can be added to the policy by Institute Cargo Clauses (ICC).
The highest level of cargo insurance coverage is obtained through the All Risks Clause. Expenses and losses except for those related to the type of cargo or due to delay in shipment, will be covered though this clause. It is important to understand that any coverage above the S.G. Policy has to be added.
Because many people have a hard time understanding their insurance policies or documents, some providers have adapted a new system. They use documents pertaining to the ICC in place of the S.G. Policy.
The All Risks Clause is referred to as Clause A. Coverage for the cargo in most circumstances is obtained through this clause. A couple of exceptions include financial default of owners, loss in weight or volume, or wear and tear.
What the ICC terms the With Average Clause would be Clause B. Coverage for expenses related to situations such as fire, earthquake, or lightning are obtained through this clause. Clause B is like Clause A except there is the addition of purposeful damage to cargo.
What the ICC calls Free from Particular Average Clause would be Clause C. With the exclusion of things such as volcanoes, earthquakes, or water damage it is like Clause B.
It is important that drivers understand what all their options are for coverage before they purchase trucking insurance coverage. If there is any concern about having adequate coverage for their situation they should contact an insurance agent.
The highest level of cargo insurance coverage is obtained through the All Risks Clause. Expenses and losses except for those related to the type of cargo or due to delay in shipment, will be covered though this clause. It is important to understand that any coverage above the S.G. Policy has to be added.
Because many people have a hard time understanding their insurance policies or documents, some providers have adapted a new system. They use documents pertaining to the ICC in place of the S.G. Policy.
The All Risks Clause is referred to as Clause A. Coverage for the cargo in most circumstances is obtained through this clause. A couple of exceptions include financial default of owners, loss in weight or volume, or wear and tear.
What the ICC terms the With Average Clause would be Clause B. Coverage for expenses related to situations such as fire, earthquake, or lightning are obtained through this clause. Clause B is like Clause A except there is the addition of purposeful damage to cargo.
What the ICC calls Free from Particular Average Clause would be Clause C. With the exclusion of things such as volcanoes, earthquakes, or water damage it is like Clause B.
It is important that drivers understand what all their options are for coverage before they purchase trucking insurance coverage. If there is any concern about having adequate coverage for their situation they should contact an insurance agent.
About the Author:
Steve Turner has lots of practice with helping commercial truck drivers to find adequate Trucking Insurance coverage. Cargo Trucking Insurance Steve Turner will be able to ensure that drivers receive the best price for their Trucking Insurance policy because he works with many competitive insurance providers. Trucking Insurance Cargo Coverage
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