Navigating the Intricacies of Intermodal Insurance: Your Lifeline for Logistics
Insurance for trucking companies hauling containers is unique. Motor carriers who haul containers are generally required to purchase UIIA (Uniform Intermodal Interchange and Facilities Access Agreement). If this is not purchased then a motor carrier will not be allowed into a port or rail yard. Carriers must also generally purchase hired and non-owned insurance since they typically lease the chassis. Trailer interchange coverage must be purchased as well to protect against physical damage of the containers being transported.
Complete Package
Intermodal Insurance (UIIA)
Understanding Your Coverage: Intermodal Insurance Demystified
Firstly, let’s get familiar with the specific coverages involved in Intermodal Insurance. A robust policy comprises of several components, each tailored to protect your trucking business from varied risks.
Commercial Auto Liability: As part of the coverage, companies can secure a commercial auto liability limit up to $1,000,000 CSL. This covers liabilities for bodily injury or property damage caused by a commercial vehicle in the operation of your business.
Trailer Interchange Insurance: This provides coverage for non-owned trailers being pulled under a trailer interchange agreement. It can provide limits of $30,000, $50,000, or even up to $60,000 depending on the requirements and the value of the trailer.
Cargo Insurance: Protecting the value of the goods you transport is critical. Cargo insurance offers peace of mind with limits of $100,000 or $250,000, ensuring that the goods you’re entrusted with are covered against mishaps.
General Liability: This insurance, with limits of $1,000,000 or $2,000,000, safeguards your business from a variety of potential claims like bodily injuries, property damages, or even advertising injuries that can occur during business operations.
Workers Compensation: A must-have for all businesses, Workers Compensation insurance ensures that your employees are protected in case they get injured or fall ill while performing their duties.
An Essential Element in Intermodal Insurance
Lastly, we cannot overlook the importance of the Uniform Intermodal Interchange and Facilities Access Agreement (UIIA) filing in intermodal insurance. As the standard agreement in the intermodal industry, UIIA compliance is essential. It establishes the rules for the interchange of equipment among carriers, and our team ensures all your filings are in order.
Intermodal Insurance, though complex, doesn’t have to be daunting. With the right coverage, you can focus on what you do best: keeping the world’s goods moving. Let Surefire Insurance Agency guide you through the maze of Intermodal Insurance and help protect your business from any unforeseen circumstances.
