Insurance-buying each liability and cargo separately from different companys

Discussion in 'Ask An Owner Operator' started by jonch, Oct 24, 2014.

  1. jonch

    jonch Bobtail Member

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    Jun 26, 2014
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    I am comparing insurance quotes from many vendors. I am buying only two coverage:liability and cargo. it is kinda dilemma. one company offer better liability quote but not in cargo. the other works in opposite way. I can buy separately, but what could be a problem if I do so?
    thanks for your advice in advance.
     
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  3. double yellow

    double yellow Road Train Member

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    My insurance broker arranged liability and cargo through 2 different companies. Not sure I would want to do that myself -- would mean getting 2 insurance certificates every time you deal with a new broker or shipper instead of just 1 if you use a brokerage.
     
  4. jonch

    jonch Bobtail Member

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    Jun 26, 2014
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    thanks for reply. many help
     
  5. Marlin46

    Marlin46 Medium Load Member

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    Atlanta, GA
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    Many times an insurance carrier will give a discount to package them together. If financially it makes more sense that Ins carrier A has liability and Ins carrier B has cargo then so be it and kudos to your agent shopping around for the best deal. Assuming you are getting both coverages from the same agency then it will be listed on the same certificate.

    Only potential downside is that if there is a claim that involves both AL and Cargo you would be dealing with two different insurance adjusters but that is about all I can think of.
     
  6. G/MAN

    G/MAN Road Train Member

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    When I have looked at separating cargo and liability, the premiums have been negligible. Most insurance companies will have lower rates when the two are combined and raise rates when they are purchased separately. With one company for both,
     
  7. Skate-Board

    Skate-Board Road Train Member

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    Ya, what double yellow said!! Make sure these companies are rated well or some brokers will no accept them. Northland is the best.
     
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