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
Exit, act of leaving or going out. ...
Coverage for the owner of a business. When a proprietor dies, debts of the business become the debts of the estate since in this circumstance the law recognizes business and personal assets ...
Rejection by an insurance company of an application for a policy. ...
Total premiums received by a property and liability insurance company without any adjustments for the ceding of any portion of these premiums to the reinsurer. ...
Term or whole life policy with a face value that increases over time. ...
Life insurance policy with a death benefit that is paid only when the second of two insureds dies. No benefits are paid as long as both live or if just one lives. ...
Approach that maintains injury or sickness begins when it is first detected by an obvious appearance. This argument is used in determining if liability insurance is afforded in a particular ...
Rights and duties of an insured as a prerequisite for collecting benefits. For example, in the event of property damage, the insured may be required to submit proof of loss to the insurance ...
Coverage under which the face value, premiums, and plan of insurance can be changed at the discretion of the policy owner in the following manner, without additional policies being issued: ...
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