Understanding Transportation Insurance

transportation insurance in New Jersey

transportation insurance in New Jersey

Owners of transportation companies realize how important it is to have transportation insurance in New Jersey, but if they’re just getting started in the transportation business they might not fully understand their transportation policy. In order to get the most out of any insurance policy, it’s important that you understand just what kind of coverage that you have and what situations are and are not covered.

Different Policies

There are several different types of policies that you can include with your transportation insurance in New Jersey, including:

  • Errors and Omissions (E&O)
  • Motor truck cargo
  • Commercial General Liability (CGL)

With an E&O policy you’ll be covered for any professional liabilities that you might face while you’re transporting goods and providing services to your customers. In most cases you’ll be covered everywhere in your trading area.

A motor truck cargo policy will protect you from any and all losses of goods during transport. One thing to take note of with this type of policy is that it has to be added separately since it’s not included with a standard policy.

Commercial General Liability policies are intended to protect your office exposures. You can also have additional and separate policies to protect you in the event that your building, warehouse or any other business property you own were to suffer a loss.

If you’re new to the transportation business or if you’re getting transportation insurance for the first time, sit down with your insurance agent today to review and make sense of your policy.

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