Car Carrier Insurance
Given the high value of the cargo being transported by car carriers, auto transportation companies today face challenging situations and unique risks on the road. With as many as 7-8 vehicles being hauled by a single rig, auto transportation companies have specific insurance needs that typical trucking insurance policies are unable to accommodate.
When considering different agencies for car carrier insurance, consider not only the price of the policy but also the experience of the agency providing the policy. Having a major incident with insufficient insurance is one of the leading reasons why trucking companies specializing in auto transportation go out of business.
Colonial Trucking Insurance is one of the country’s leading providers of car carrier insurance and we have experience with a number of companies in the auto transportation industry. We have experience providing car carrier insurance to auto transportation outfits of all sizes, from large fleets to independent contractors who carry primary liability insurance via the car carriers’ authority.
Mandatory coverages for Car Carrier Insurance include bodily injury insurance and property damage insurance. These coverages are provided as part of our Trucking Liability coverage.
Areas of concern for Car Carrier Insurance include:
- Striking a load while passing under a bridge or an overhead structure.
- Diminished Value – the actual or perceived loss in market value or resale value that results from a direct or accidental loss to an auto being transported.
- Theft from unattended vehicle – when a tractor/trailer is left unattended and a theft occurs, many policies have numerous exclusions to avoid covering this type of loss.
- Constructive Total Loss – partial loss of such significance that the cost of restoring damaged property would exceed its value after restoration. For example, an automobile is so badly damaged by fire that fixing it would cost more than the restored vehicle would be worth.
- Loading & Unloading – provides coverage for the commodity while it is being loaded or unloaded.
- Earned Freight Coverage – replaces income lost when a load cannot be delivered due to a covered cargo loss.
- Debris Removal Expenses – coverage if load is accidentally dumped on a roadway or waterway for the cost to remove debris or extract pollutants caused by the debris.
- Earned Freight Coverage – coverage for freight charges the customer loses because of not delivering a load
Car carrier insurance sample quote:
|Fleet Size||13 trucks|
|Commodities hauled||New and used autos|
|Years in business||4|
|Number of claims in past 3 years||3|
|Annual premium for $1m Liability, Uninsured Motorist, $250k Cargo limit.||$140,400|
|Pay Plan||Monthly mileage reporting|
We encourage you to NEVER base insurance decision solely on price. Normally, when we buy a product we look for the lowest price — if all other things are equal, we take it. If you insure for lower rates, but that company can’t provide good timely service, the lower premiums will not help you out at all when you can’t get loaded due to problems with your insurance. The same is valid when your claim is not covered because your insurance agent sold you a “subprime” policy. Please note that your actual proposal may vary based on underwriting factors such as location, age of driver, MVR and more. Coverages, payment plans, policy terms and conditions vary state by state. No two policies are the same. No two insurance needs are the same either.
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Please complete our quick quote sheet for a quick Car Carrier Insurance quote or call us at (855) 265-9999 to speak to one of our licensed trucking agents who can help to identify and correct any coverage gaps in your current insurance policy.
We can provide the following types of truck insurance:
• primary liability
• physical damage
• motor truck cargo
• occupational accident
• workers compensation
• general liability
• broker bonds
We can provide trucking insurance for:
• owner/operators or fleets
• local, intermediate, or long-haul operations
• dump trucks, straight trucks, or tractor/trailers
• hot shot operators
• container haulers
• agricultural haulers
• car carrier operators
Some coverage programs can include:
• Rates starting at $400/Month/Truck
• Mileage or Revenue Reporting Form
• 24/7 Access to Certificate of Insurance
• Profit sharing physical damage policies
• Complimentary DOT safety programs
• “A” Rated Insurance Companies