To understand the importance of freight insurance, we have to also understand freight liability coverage (also known as carrier liability). By law, carriers are required to hold some degree of coverage to account for their operating liability. Those requirements vary based on things like what they’re moving, how they’re moving it, and more. This ultimately amounts to an obligation of a certain dollar amount of coverage per pound of freight. While this coverage does allow carriers to pay shippers in the event of a loss, it only applies in instances of mishandling, negligence, or other error on the part of the carrier. It does not apply if the loss is related to:
Something many businesses don't know is that commercial insurance carriers have preferences for which types of businesses they insure.
The problem for most business owners is that they don't know which carrier is the best fit for their business, leading to high premiums or declined applications for coverage .
The 321 LaunchPad is connected to the largest network of commercial insurers available anywhere. We match your business with a qualified insurer so you get the right coverage for a fair price.