TRUCK INSURANCE- LIABILITY
This section of the truckers policy covers third parties in the event of an accident.  The limits of coverage apply to personnal liability and physical liability, it means that the insurance company will pay for both liability under the single limit.
Liability limits range from $750,000 to $1,000,000 or more.  
If you are traveling long haul, some of the states will require higher limits than $750,000 or some companies will ask you for higher limits of coverage.
Truck insurance companies like Sutter Ins. Co.,and  Scottsdale Ins. Co. have the truck radius of limitation.  If you have an accident outside the limit you'll not be cover.
Last, the truck owner must check the insurance rating of the truck policy because if the rating is not A or better he will not be able to loads from some companies.

FILINGS
Unlike other policies the truckers insurance coverage calls for special filings like the MCP and Federal Motor Carrier Permit to be issue by the insurance company.  These filings call for special truck insurance wording and endorsement to be added to the policy.
In addition, if the policy is set to cancel for any reason, the truck insurance company must send a notification to the State and to the Federal Highway Administration to advice that the truck policy is set to cancel.  Truck insurance calls for a higher degree of expertise and a higher understanding of all requirements to be met for the coverage.   


MOTOR TRUCK CARGO
The cargo section under the truckers policy covers non owned cargo unless otherwise is disclose on the application.  The truck cargo company issuing the  coverage  needs to have a clear understanding of the commodities to be hauled by the the truck owner.  Many truck owners think that if they have a cargo policy any load will be cover, but that is not the case in real life.  The truck owner must disclose all the type of loads that he will be hauling, so they can be cover under the truck policy.
Truck cargo policies have the following limits: $100,000; $50,000; $25,000  less or more.  Also, radius of limitations apply to many if these truck cargo policy.


In addition, there is Refrigeration Breakdown coverage that it will cover your load of refrigerated commodities in case there is a refrigeration unit malfunction.  The coverage will take effect as long you have you refrigeration unit maintenance records for the last 90 days.  Also, a deductible will apply in the value of $2,500.00

Note, most insurance companies will not cover any trailer older than 10 years.

TRAVELERS' CARGO

We provide you coverage where you need it. Cargo
is covered in or on any land vehicle or container,
at a terminal and at other properties while at your
risk. We are also proactive about providing more:
• Account Executives, located in 35 offices, offer
tailored coverage based on the specific needs of
each account
• IM Express, accessible via Agent HQSM, offers the
ease of quoting accounts with schedules of up to
15 vehicles online
• Risk Control specializes in fleet management
programs to help manage theft exposures and
risks related to the commodities being hauled
• Our Inland Logistics Claim Group works
exclusively on Logistics claims and understands
the speed and accuracy needed in responding
to cargo liability losses
• Specialty Investigations Group has award-winning
investigators who specialize in cargo recovery
− SIG works with law enforcement to investigate
theft losses and recover stolen goods
− SIG provides consultations with insureds to
review cargo security procedures
− SIG are experts on the latest trends in theft
and security protection
Whether you have one unit or one thousand, feel secure that Travelers’ coverage
and service will help you manage risk over the long haul.
Motor Truck Cargo
Legal Liability
Each commodity and contract presents fresh
challenges for a common or contract carrier.
When you work with Travelers Inland, you’ll have
the resources needed to help you move forward.
We work with motor carriers of all sizes to provide
the coverage and services that will make a difference.
Experienced Account Executives, online quoting via
IM ExpressSM, a Specialty Investigations Group that is
there when you need them, a Logistics Claim group,
plus Risk Control and other services are all part of the
Inland Network. Our broad coverage is just the start of
what you’ll receive when you work with Travelers Inland.
The Travelers Indemnity Company
and its property casualty affiliates
One Tower Square
Hartford, CT 06183
travelers.com
This material does not amend, or otherwise affect, the provisions or coverages of any
insurance policy or bond issued by Travelers. It is not a representation that coverage does
or does not exist for any particular claim or loss under any such policy or bond. Coverage
depends on the facts and circumstances involved in the claim or loss, all applicable policy
or bond provisions, and any applicable law. Availability of coverage referenced in this
document can depend on underwriting qualifications and state regulations.
© 2008 The Travelers Companies, Inc. All rights reserved. CP-6230 Rev. 11-08
• Terminal Coverage is available
• Fire Department Service Charge up to $25,000
• Defense Costs in addition to the limit of insurance
• Intermodal Shipping Containers owned by others
in your care, up to $2500
• Uncollectible Freight Charges up to $25,000
• Reward coverage up to 25% of covered loss,
up to $2500
Travelers’ financial strength and the power of the Inland Network will help
your business to run smoothly even as your operations change.
Travelers Inland, making a difference for motor carriers and the businesses they serve.
• Miscellaneous handling and shipping equipment
up to $2500
• Pollutant Cleanup and Removal up to $15,000
annual aggregate
• Reloading expense up to $5000
• Claim Mitigation Expense up to $5000
• Debris Removal up to 25% of loss paid for covered
property and deductible, plus up to $25,000 additional
*Offered on a per occurrence basis unless otherwise noted.
Travelers Inland delivers. Some features of the coverage include*:


• Loading and Unloading is covered
• Goods can be shipped using a released value
bill of lading
• Coverage for fraudulent bills of lading
• General average and salvage expense is
provided for covered waterborne transit
• Goods shipped Free On Board are covered on
a limited basis
• Up to $2,500 per loss for equipment used to load,
unload, secure or protect property on insured’s vehicles
• Debris removal coverage is included for 25% of the
loss to covered property and the deductible plus
up to an additional $25,000
• Pollutant Cleanup and Removal is covered up to
$25,000 annual aggregate
• Fire and Police Department Service Charge is provided
up to $25,000
• Reward Coverage is included up to a maximum
of $2,500 in any one occurrence
• Flexible reporting provisions are available
Coverage designed for your operations.
You’ll have peace of mind knowing that our coverage protects goods from point of departure until they reach their final
destination. Speak with us about how our Transportation forms offer options ranging from a single shipment to reporting
policies that are flexible to meet your ongoing transit movements. Key features of our coverage include*:
Transportation
Shipping your product safely can get complex. So can
understanding the contractual liabilities involved.
Theft or damage to a shipment can impact your
bottom line. Having the right insurance coverage for
your needs is important; but are you receiving the
other insurance services that help you manage risk?
Travelers Inland works to help you protect your property
and makes a difference when we provide you with our
Inland Network of expert specialized services.
*Offered on a per occurrence basis unless otherwise noted.
The Travelers Indemnity Company
and its property casualty affiliates
One Tower Square
Hartford, CT 06183
travelers.com
This material does not amend, or otherwise affect, the provisions or coverages of any
insurance policy or bond issued by Travelers. It is not a representation that coverage does
or does not exist for any particular claim or loss under any such policy or bond. Coverage
depends on the facts and circumstances involved in the claim or loss, all applicable policy
or bond provisions, and any applicable law. Availability of coverage referenced in this
document can depend on underwriting qualifications and state regulations.
© 2010 The Travelers Indemnity Company. All rights reserved. CP-6233 Rev. 2-10
• Our Account Executives cover every state, know their
local markets and use their expertise to tailor coverages
to your needs. They help you decide how to use the
Inland Network to your best advantage.
• Our claim adjusters are experienced with the intricacies
of contracts and shipping documents and understand
the need to keep your goods flowing after a loss event.
They know your industry and have a deep understanding
of the coverages provided.
• Our Specialty Investigations Group team members
are situated so they can assist local law enforcement
in recovering stolen goods and promoting cargo security.
Security analysis and training on theft prevention
are making an impact with customers.
• Risk Control offers advice on management practices;
specialized packaging techniques; and ways to better
secure your property from theft or other damage.
Vendor alliance products offer benefits with tools
and technologies to assist you.
You pride yourself on the safe delivery of goods under your control, and expect the same from others.
Our network of experts is in place to be forward-thinking about helping you protect your assets.
Choose Travelers Inland. We’ll help navigate a clear route for your transportation
or other logistic insurance needs, so you can stay focused on your business.


PHYSICAL DAMAGE

This part of the truckers insurance policy covers yours truck and trailer.  Note that the insurance company will only pay up to stated value of the vehicle insured.  It means that you have to insured the vehicle up to the fair market value, so if you bought the truck for $20,000 and you have a loss 6 months later, then, the insurance company will only pay $17,000 or less after deducting cost of use and market value.  Physical damage will pay for taxes or towing.  Most policies in the state of California require that you add another $5,000 dollars to the stated value of the vehicle to cover for the towing expense in case of an accident.



TRAILER INTERCHANGE

This section of the truckers insurance  follows the cargo policy.  It means that it will covers any hook trailer up to an specific value as long as you have a written contract  with the Port or any other institution.  The policy has an extension that it will cover the trailer for additional 72 hours only if you pay the additional premium.  Again is important to have the written trailer interchange agreement for the coverage to trigger in case of a loss.

LIFE INSURANCE

Why Professional Truck Drivers need Life Insurance:
You are on the road working hard and driving across city’s, counties, and states to make a living for you and your family.  Occasionally, you're wondering whether or not you should buy life insurance.  If that has happened to you, take your thought another step further and ask yourself this profound question: "Would my death leave anyone in a financial bind?" If you answer "yes", it may be time to get serious about shopping for life insurance.  Life insurance can offer peace of mind, ensuring that your debts or loved ones will be taken care of in the event of your death. But before you buy it, you need to ask yourself if you'll qualify, and whether you should purchase term or permanent life insurance.

Who Needs and Qualifies for Life Insurance? 
The rule of thumb is once you become a parent, any adult in your house earning income should have life-insurance coverage that will last until your youngest child completes college. If you have large financial obligations such as high credit-card debt or a mortgage, you could use life insurance to ensure that debt is covered. Because life-insurance death benefits are exempt from federal taxation, many financial planners often use clients' life-insurance benefits to help pay for the estate taxes generated upon the death of a loved one. 

To determine if you qualify, most life-insurance policies require you to undergo a medical exam primarily to check for high cholesterol and blood-sugar levels. Prior to issuing a policy the insurance company will also check things such as your medical history, hobbies, credit rating, alcohol-related issues and driving record, just to name a few. Factors such as age, smoking and prior health issues can also drive up the premiums on a policy. 

The two primary methods used to determine the amount of insurance an individual requires are the 'human-life approach' and the 'needs approach'. The first projects an individual's income through his or her remaining working life expectancy, and then the present value of the life is determined by means of a discount rate. With the needs approach, all reoccurring and unusual expenditures are examined to determine the amount of life insurance needed. 

Term Life Insurance
Term life insurance is pure insurance protection that pays a predetermined sum if the insured dies during a specified period of time. On the death of the insured, term insurance pays the face value of the policy to the named beneficiary. All premiums paid are used to cover the cost of insurance protection.

The term may be one, five, 10, 20 years or longer. But, unless renewed, the insurance coverage ends when the term of the policy expires. Since this is temporary insurance coverage it is the least expensive to acquire. A healthy 35 year old (non-smoker) can typically obtain a 20-year level-premium policy with a $250,000 face value, for between $20-$30 per month. Here are the main characteristics of term life insurance: 
•Temporary insurance protection
•Low cost
•No cash value
•Usually renewable
•Sometimes convertible to permanent life insurance 
Permanent Life Insurance
Permanent life insurance provides lifetime insurance protection (does not expire), but the premiums must be paid on time. Most permanent policies offer a savings or investment component combined with the insurance coverage. This component, in turn, causes premiums to be higher than those of term insurance. The investment may offer a fixed interest rate or may be in the form of money market securities, bonds or mutual funds. This savings portion of the policy allows the policy owner to build a cash value within the policy which can be borrowed or distributed at some time in the future. 

Here are the main characteristics of permanent life insurance: 
•Permanent insurance protection.
•More expensive to own.
•Builds cash value.
•Loans are permitted against the policy.
•Favorable tax treatment of policy earnings.
•Level premiums.
There are three basic types of permanent insurance: whole life, variable life and universal life. The two most common are whole life and universal life. Whole life insurance provides lifetime protection, for which you pay a predetermined premium. Cash values usually have a minimum guaranteed rate of interest and the death benefit is a fixed amount. Whole life insurance is the most expensive life-insurance product available. 

Universal life insurance separates the investment and the death benefit portions. The investment choices available usually include some type of equity investments, which may make your cash value accumulate quicker. As the you can usually change your premiums and death benefits to suit your current budget.

Final Tips
•Consider buying a "break point" level of insurance coverage - better premium rates are given at coverage levels of $100,000, $250,000, $500,000 and $1,000,000.
•Always shop for a level-premium policy. Nobody likes a surprise increase in their premium payments! So, before you buy term or permanent insurance make sure your illustration shows that your premium payment is guaranteed not to increase over the duration of your coverage.
•Determine your desired duration of coverage so that you purchase the correct type of policy and keep your premium payments affordable. If you only need insurance for 10 years, then buy term. Also check out multiple-quality insurance companies for their rates. 
•Make sure that your insurance carrier has the financial stability to pay your claim in the event of your death. You can research the financial soundness of your insurer at http://www.ambest.com.
•Don't be taken with riders. A very few number of policies ever pay under these riders, so avoid things like the accidental death and waiver of premium riders since they will only jack up your premiums.
•For 24 hours before your medical exam, keep sugar & caffeine out of your system. It's best to schedule your exam early in the morning, and don't consume anything but water for at least eight hours beforehand.
Conclusion
When seeking insurance, don't rush into buying expensive permanent life insurance before considering if term life insurance sufficiently meets your needs. Unfortunately, in many cases the fees charged for policies with investment features far outweigh the benefits. When you purchase life insurance, you're betting that you'll live, but also securing peace of mind in case you're wrong. Don't leave your family unprotected in the sudden event of your death - after all, they are your most important assets.
Click on the link below to contact one of our qualified brokers.

Paul Viveros