RSSInsuring Shipped Vehicles
Jul 15
Vehicle Check Cargo Companies, Consumers, Coverage Limits, Declarations, Extent, Insurance, Insurance Coverage, Insuring, Liability Insurance, Occasion, Overseas Trip, Possibilities, Reputable Company, Shipped, Shipping Company, Unfortunate Event, Valuables, Vehicle Shipping, Vehicles No Comments
On occasion, for whatever reason, the need to have a vehicle shipped will arise. Maybe it is a high value vehicle that is being sold and a person does not want to risk driving or maybe an overseas trip. Whatever the reason, it is important to insure the vehicle.
Cargo companies specializing in vehicle shipping know what they are doing and understand the value placed on the vehicle. Most times they have no problems getting your cargo from one place to the other. Unfortunately, there are some situations that may arise that are beyond human control, the possibilities for a loss are existent. Before shipping a vehicle, it is important to check with the shipping company to determine that they have enough coverage in the event a total loss should occur.
Any shipping company that has agreed to transport cargo of any kind is required to carry liability insurance as well as cargo coverage. This allows for the owner of the cargo to file a claim should there be a loss involved en route to the destination. Each state has its own minimums and each carrier has its own policies as well. Because of this, it is important to speak to the specific shipping company about their insurance coverage. The law is on the consumer’s side and consumers have rights that they be aware of if ever in the situation of dealing with a claim or a loss in this situation.
There are a few key notes to remember when dealing with a shipping company. First, always ask the shipping company for a copy of their insurance declarations. They should have no problem providing this if they are in fact a reputable company with coverage. Verify that the coverage they have provided is accurate and current. By doing this, a consumer can be sure if the coverage limits will cover their vehicle in the unfortunate event of a loss.
Finally, it is important for consumers to consider protecting their cargo to the best extent possible. It is important to remember not to leave any valuables in the vehicle. Also, to take dated photos before the car is delivered for shipping and document the condition of the vehicle. Finally, the consumer should take out an additional policy that is stated value for anything over Kelly Blue Book, as most insurance carriers will only pay out fair market value for a lost vehicle.