Do you own a commercial fleet? Or, are you into the logistics business? If your answer is yes, then you should definitely consider taking commercial transportation insurance. You might not consider this as a priority investment, but there are a number of reasons for you to opt for this insurance.
Irrespective of the type of your business, be it the long haul, the regional LTL, the intermodal or container-based, it is always advisable to take commercial transportation insurance from a reputed insurance policy provider to ensure the safety of your vehicle and your cargo. Staying insured might just save you hundreds of dollars in case of mishaps. If you’re still not convinced, then here are a few reasons why you need insurance for your commercial transport:
1. Accidents While Delivering The Cargo
Sometimes no matter, how earnest the planning, there can be minor glitches on the job. In some unfortunate cases, such glitches can cause major accidents. Considering the road accident rate in Canada, there is a significant chance that while delivering the cargo, your trucking staff might end up being privy to an accident.
In this case, you will have to bear the loss of your resources as well also pay for the losses of the client whose goods you were delivering. Getting a commercial transportation insurance will ensure that your losses are covered in the case of an accident. The expenses covered under a comprehensive insurance policy include the damages to your vehicle and the medical expenses of the staff.
2. Delay in Delivering Perishable Goods
Sometimes perishable items have to be delivered at a specific destination. In such cases reaching the destination on time is of extreme importance. But, if the cargo which was supposed to take 6 hours reaches after 20 hours, then the products being delivered will get spoilt causing you to bear exuberant losses. In this case, you will be held liable by your client for being unable to deliver the products on time.
The commercial transportation insurance covers these damages. So if something degrades the usability of your cargo, you will not have to single-handedly bear all the expenses. Having commercial transportation insurance is your safety net from all the unforeseen expenses you may have to incur.
3. Injuries To The Staff While Delivering The Cargo
Being a part of the transportation business, employees tend to perform labor-intensive tasks. This raises the risk of injuries on the job. Moving and unloading mass shipments can at times take a toll on your staff. It won’t be unexpected if at times some of them end up hurting themselves. Having commercial transportation insurance will cover the medical expenses of your employees and save you some significant capital. Your employees are the backbone of your company and any kind of injury to has to be dealt smartly.
These were a few reasons why having commercial transportation insurance is essential for your business. To know more about getting insured, get in touch with our experts at My brokers.