Cargo insurance, also known as motor truck cargo insurance and freight insurance, provides coverage for potential damage to the property of others while in transit or during loading or unloading. This coverage provides protection for accidents like collision, load strikes, fires and more.

It’s made for for-hire truckers hauling someone else’s property. It can also cover some pollution removal and loss-recovery expenses. In this guide, we’ll discuss who might need cargo insurance, its importance, different types, and more.

Who Needs Cargo Insurance?

Many risk managers now require cargo insurance from truckers. This coverage is designed for for-hire trucking operations. For-hire truckers using the following types of vehicles commonly need cargo coverage.

• Box trucks
• Cargo vans
• Flatbeds
• Car haulers
• Tractor-trailers

• Dump trucks
• Most trailers
• Cement mixers
• Dually pickups

Why You Need Cargo Insurance

Cargo insurance serves as a vital safety net for trucking companies. It saves them from the financial burden of cargo damage, loss, or harm during transport, loading, and unloading.

It also extends its protective reach beyond cargo. For instance, if a truck gets into an accident on the highway, and the cargo and debris end up on the road, cargo insurance may help cover the cleanup expenses. Cargo insurance protects from these unexpected costs, making it a valuable asset for trucking businesses.

Cargo Insurance Coverage Types

Explore the various cargo insurance coverage options provided by GEICO. This includes motor truck cargo insurance and motor truck cargo insurance with refrigeration breakdown.

• Motor truck cargo insurance: For-hire truckers use this insurance to protect the goods they transport. It helps covers loss to property owned by others due to situations like collisions , fires, stolen cargo, or accidents that harm the cargo.
• Motor truck cargo insurance with refrigeration breakdown: This insurance helps cover losses to items caused by spoilage or change in temperature due to sudden and accidental breakdown of refrigeration or heating units on the covered auto. It is commonly needed for goods like fresh or frozen food, live plants, and certain electronics that need to stay cold.

Exceptions and Restrictions

Motor truck cargo insurance may not be offered in all states. Contact us for specific information about your area.

Motor truck cargo insurance does not cover certain vehicle types like limousines, buses, and ice cream trucks. There are also exclusions for specific cargo types, such as:

• Valuables: Precious and semi-precious metals and stones, art, jewelry, money, or valuable papers or documents.
• Restricted substances: Marijuana, contraband, pharmaceuticals, tobacco, and alcohol
• Live animals
• Mobile and modular homes

• Cargo under another carrier’s custody
• Property or goods owned by the insured
• Cargo not listed in the bill of lading
• Storage exceeding 72 hours
• Shipping containers
• Explosive or radioactive materials
• Property carried without a charge

How much does Cargo Insurance Cost?

The cost of cargo insurance can vary on factors like the type of cargo you’re transporting.

Several key factors influence the pricing of your cargo insurance premium:

• Cargo type: Insurance prices are affected by the type of cargo being transported. Riskier cargo can increase premiums. Stable cargo tends to be cheaper to insure.
• Coverage limits: You can choose more coverage, which changes the cost. Some haulers might need more coverage, making the premium go up.
• Loss history: Your past claims and losses can affect your premium. Insurance providers will assess your history when calculating your coverage cost.

Box Truck Insurance

Driving a box truck or straight truck for your company means you will need commercial automobile insurance which acts as a safety net protecting you in case of accidents, repairs, or medical bills.

What Is Commercial Box Truck Insurance?

Commercial box trucks are insured on a commercial auto insurance policy. It’s made to protect box trucks used in your business. This includes protection both while on the road and when parked.

It offers protection in different settings, including accidents. Different coverages available on the policy can help pay for things like damage to property, injuries, medical costs or even your cargo.

Businesses That Might Need Box Truck Insurance

Box truck insurance serves a wide range of industries. Some of the businesses that commonly rely on box trucks include:

• Landscapers use these trucks for carrying tools and plants.
• Furniture companies use box trucks for delivering large furniture items.
• Distributors and wholesalers use box trucks to carry large amounts of goods.
• Retailers use box trucks for stocking. They also use it to send out goods.
• Delivery and courier services use box trucks to easily deliver goods.

Types of Box Trucks and Straight Trucks

Box trucks come in special types, each serving a unique purpose. At GEICO, we provide commercial truck insurance for different kinds of trucks, including:

• Straight trucks
• Tilt cabs
• Refrigerated box trucks
• Cargo cutaways
• Sleeper box trucks
• And more

Start a quote for commercial truck insurance to learn more about GEICO’s available coverages for these types of box trucks.