Heavy Equipment Freight Insurance
Licensed transporters are required to have a certain amount of liability and cargo insurance. This means that they should be able to cover any damage that occurs during the shipping process. The terms and amount of coverage can vary from company to company, and you should ask each transporter about their coverage.
Is the minimum enough?
The minimum required insurance will offer you some protection; however, you may find that it falls short of the true value of your equipment. Take responsibility for finding out exactly what protection the provided insurance offers, as well as the terms for making a claim. Ask questions about what type of damage is covered and the limits of the insurance to confirm that you are adequately protected. Should you feel more insurance is necessary, ask the transporter if they offer the option of purchasing more. If not, you can usually find a third party to insure your equipment.
Heavy Equipment loads transported through uShip are eligible for uShip Cargo Insurance. When accepting a bid, you will have the option to purchase additional coverage. This policy is all-risk covering approved goods against damage, lost or stolen claims subject to the terms and exclusions of the policy. Learn more about uShip Cargo Insurance here. This is a great option for additional insurance for Heavy Equipment valued under $500,000.
Talk to Your Insurer
If the equipment is already insured, check with the current insurer to see how much damage it will cover. Even if it will not cover the entire cost, you should notify the company that you are transporting the equipment and follow any requirements necessary to maintain your policy. They may also be able to offer you competitive rates for any additional insurance you may require.
If you need to make a claim
In the unlikely event that your equipment is damaged during shipping, make specific notes on the “Bill of Lading” and have the delivery driver sign the form before accepting delivery. If there is damage, contact your shipping and insurance companies immediately. You should have no problems if you are well informed on your insurance policies. Shipping companies will want to resolve your complaint as quickly as possible, and should be quite helpful. Should you feel you have been treated unfairly, you can file a report with the Better Business Bureau or any professional organizations the company belongs to.
By putting some time and effort into choosing the right shipping company and adequately preparing your equipment for transport, you can avoid most problems.How to Choose a Heavy Equipment Transporter »