Come in and talk to one of our Brokers today. We can help you determine whether or not you are required to carry Cargo Insurance.
Cargo insurance is a legal liability policy that is mandatory and required by law for businesses carrying other's property.
The Saskatchewan Highway Traffic Board, in accordance with the Federal Motor Carrier Act, requires carriers that have Commercial 'A' plate registration on vehicles over 5,000 kg Gross Vehicle Weight (GVW) to have a cargo insurance policy that meets the minimum limits. A vehicle's GVW determines the minimum limits required by law. All loads should be insured to their full value.
Although single trip only cargo policies cannot be obtained, increased single trip limit requirements are available.
Leased operator's buy-down cargo policy
Leased operators may determine that the employer's policy is subject to a high deductible that they cannot absorb. The leased operator may choose to buy down the deductible to $500.
You may also have a need for Commercial Auto Insurance. If you use a vehicle for business purposes - you need Commercial Auto Insurance. For instance - if you're a farmer and you haul grain for your neighbor or relative - you may require a Commercial Auto Policy.
These policies work much the same as Personal Auto policies with a few variations in coverages.
Speak to one of our Brokers - We will be happy to help you!