Will carrier liability policies protect your customers’ freight from Old Man Winter?

Story by

Johnny Mccord

Tags /

  • COVID-19
  • Insurance
  • Weather
A cargo truck that has come off the road in the snow, with a blue cabin. Two cars are approaching it from the other direction.

Winter is here with a vengeance, bringing a mix of rain, snow, wind, and cold to the midwest. And, this storm is now tracking to the northeast—a region still digging out from a deadly storm just two days ago.

That means hazardous driving conditions across large swaths of the U.S.

So, as you’re booking loads right now, it’s important to take a moment and remember that financial losses—due to lost or damaged freight—are more likely than ever to impact your customers’ bottom lines. After all, it just takes a patch of black ice or a single, overly-aggressive four-wheeler to put those loads in jeopardy.

Think your customers are protected by their carriers’ liability policies?

If you do, you might want to pause and give those policies a closer look—because, the truth is, they’re more exposed than you think.

Carrier liability policies:

  • Only offer coverage when goods are in the carrier’s care
  • Require that you prove the lost or damaged freight was due to carrier negligence
  • Include extensive exclusions—including Acts of God, like black ice and wintery wind gusts that kick-up blinding road conditions
  • Take an average of 120 days to settle claims
  • Pay out just a fraction of the load’s invoiced value

That’s painful for your shippers. For some, it could mean letting trusted employees go or shuttering their businesses entirely—especially now as the pandemic drags on, further straining already struggling businesses.

Protection is within your reach, through insurtech

Sure, per-load, all-risk policies are out there. But, when they’re managed through traditional processes, they’re slow to secure and they’re expensive. And, as nuclear verdicts drive insurers out of the market, they’re also increasingly harder to find.

This simple fact is transactional insurance was never a fit for people-powered processes.

Today, however, insurtechs are harnessing AI and predictive analytics to eliminate the human cost of underwriting and accelerate claims across a range of industries.

In fact, we’re doing just that for the transportation industry right now—reducing the cost of per-load, all-risk insurance by up to 80%. What’s more, cutting-edge tech enables us to deliver real-time, dynamic pricing, as well as one-click and automated coverage.

Meaning, freight brokers, just like you, can offer fast, affordable, per-load coverage to your customers—big and small.

What can it deliver?

  • Broadest door-to-door coverage available
  • Most competitive rates
  • Claims that don’t hinge on carrier negligence
  • Settlements that pay 110% of the invoiced value of your load
  • Accelerated claims that deliver payments in days—or even minutes

Right now, as COVID continues to strain businesses—as operating more cost-effectively, and protecting cash flow becomes more critical than ever—we’re humbled by the opportunity to alleviate some of the pain shippers experience.

We care about this industry—and know we’ll get through these tough times if we do it together.

Want to learn how Loadsure can empower you to rapidly protect your freight? Connect with us.