Motor Truck Cargo Insurance
Definition of "Motor truck cargo insurance"
Protection required under the Motor Carrier Act of 1935. The policy covers the motor truck carrier if it is legally liable for the damage, destruction, or other loss of the customer's property being shipped. This includes lost packages, broken contents, and stolen articles. Two types of policies are available: those that list the specific trucks to be covered in which the property may be damaged or destroyed; and those that cover all of the insured's trucks, with no trucks listed specifically. This coverage is on the Gross Receipts Form, which in essence covers all operations of a motor carrier.
Popular Insurance Terms
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Stipulations of the rights and obligations of an insured and an insurer under a policy. ...
Statement showing the amount of money owed the agent by the insurance company, according to the contract he or she has with the insurance company. ...
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