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
Refusal by an insurance company to underwrite a risk. ...
Coverage for business risks including goods in transit, fire, burglary, and theft. A common example is the COMMERCIAL PACKAGE POLICY (CPP). ...
Method of operation. ...
Policy under which the insurer will pay the actual cash value of the property at the time the property was damaged or destroyed provided the loss falls within the limitations of the policy. ...
Decrease in value of property as the result of technological advancement and/or changing social mores. This factor is used to measure the amount of depreciation in determining the actual ...
Wrongful inaction; failure to act; inactivity. ...
Investments made in a variety of securities issued by government agencies. ...
Time period in health insurance that must elapse between a previous illness and a current one, if the current one is to be considered a separate illness eligible for a new set of benefits. ...
Inability of the insured to perform any and all important daily duties of that insured's occupation. ...
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