Insurance question

An independent agent will represent a variety of carriers, each with their own underwriting team. They assess the risks of each class and come back with a price. Some have an appetite for certain types of haulers over others and you see the difference in their pricing. Other types of trucking, like hazmat, carry more significant risks and so their insurance premiums represent that further.

As a trucker, you should ALWAYS disclose the type of cargo you haul so that a claim situation won't mean the potential death of your company. A claim situation is hairy enough as it is and if you have to start answering questions about why you were hauling spinach when you represented 100% of your loads were auto parts - you may face the insurance claim denying the claim. Better to tell your agent that you haul Product A 90% of the time, but also dabble in Product B 5% and Product C 5%. The premium may be higher or even lower if one of those classes of business are deemed "less risky."

Your certificate of insurance will only tell the broker or your client that you have "coverage" at the specified limits indicated on the paper. In an actual accident/claim/lawsuit, your insurance company will review your insurance policy with a fine-tooth comb to make sure that they pay everything they are responsible for...and nothing more.

If you don't have a mountain of money on the side to pay out of pocket for a claim or accident, I strongly recommend you disclose everything or risk losing your livelihood. We all buy insurance to transfer risk for a price. Do it right and you can sleep good at night. Do it wrong and you only kid yourself.

 

this is what i got today ,idk should i sign it like this it looks like i can only haul fricking magazines

 

Haha! What you choose to haul is your business and your duty to report.

I can't/won't/don't give professional advice in forums.