Yes, every shipment is covered by a Cargo Insurance policy. This policy has no deductible to the customer and is included in the quoted shipping price. This insurance is attached to the specific piece of equipment doing the hauling, in the same way that your personal auto insurance is attached to your specific vehicle. Since this policy is attached to the truck, the policy is owned by the carrier and not Professional Auto Shippers.
Since this policy is not owned by us, we perform multiple steps to ensure this policy is in effect for every single load, even if it is a carrier we work with weekly. First we require that Professional Auto Shippers is named on the policy as a certificate holder. This ensures that we are notified of any material change to the policy by the insurance provider. Secondly, every time we assign a carrier to a shipment we verbally verify their cargo policy, limit and check for any pending cancellation issues. This is just an extra precaution that we take to ensure there have been no changes to the Cargo Policy that we have on file.
The cargo policy typically has a $250,000 limit per load, although it may be slightly less if we use a carrier that hauls fewer than 8 vehicles and possibly more for enclosed carriers, again depending on how many they can haul. We do suggest that you have your normal full coverage policy in effect during shipping to act as a secondary layer of coverage and protect you in the case of the cargo policy exceptions. Cargo insurance covers things that the driver should have been able to prevent such as damage due to driver’s negligence, equipment failure, or traffic collisions. There are exceptions to the cargo insurance especially if the automobile is being transported on an open carrier. Some examples of these open carrier exceptions are hail, wind, rock chips and dripping fluids. This type of incident is not covered by the cargo policy as the driver would have no way to avoid these situations, even while performing his duties properly. Incidents that are not covered by cargo insurance would revert back to your personal insurance policy. There is no special policy with stated values, or that will cover every possible peril which we can provide or sell, as we are not an insurance agent.