What amount of value do you have for your breakdown insurance? The under writer is asking how much the loads are valued at for our breakdown insurance? Do you all just have a generic number you tell them? Thank you
Breakdown insurance
Discussion in 'Refrigerated Trucking Forum' started by ReeferOhio, Nov 4, 2021.
-
-
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.
-
Beaver9 Thanks this.
-
what’s breakdown insurance ??
Covers paying someone else to finish transporting the cargo to its destination ? -
If your insured with great west and haul Reefer you probably already have it
Beaver9 Thanks this. -
It's usually the same as your cargo insurance. I have 500K because I haul a lot of seafood but it's pretty common to carry 100k or 150k, but again it depends on the value of the loads you haul. You want to make sure you are covered in case you loose a load.
BE ADVISED: insurance companies will try to get out of paying for whatever they can. In the case of reefer breakdown coverage you have to make sure it wasn't caused by driver error or lack of maintenance.
For example, if you loose a belt on the unit and it shuts down and the load gets hot, but you haven't had any preventative maintenance done in over a year, don't expect the insurance to cover it.
My insurance agent advised me to make sure I have the unit PM'd on regular basis and from an authorized maintenance facility and make sure to keep maintenance records. You can also ask the insurance company to provide you with their requirements for a preventative maintenance schedule. that way you'll know ahead of time and can make sure to cover your butt!Beaver9 and Short Fuse EOD Thank this.
Trucking Jobs in 30 seconds
Every month 400 people find a job with the help of TruckersReport.