You have many options when it comes to cargo liability insurance companies. How can you choose one that will provide the service and products for your business? Here are three key elements of a good insurance company.
Your Broker Should Be Professional
You need a company that is knowledgeable and experienced, not only in insurance but also in the trucking industry. You want a company that tailors its policies to fit your needs. You don’t want to be underinsured, but you also don’t want to be paying too much for more coverage than fits your business.
Your Broker Should Have a Solid Reputation
Look for a company with a reputation of longevity in the business. You know that they’re in it for the long haul will be available when you have a claim. Also, ask about the agent’s experience and years in the industry. That will tell you a lot about the reputation of the company.
Your Broker Should Be Financially Strong
Ask your broker for its financial ratings of the companies that are presented to you. The two main rating systems, Standard & Poor, and Moody’s will tell you a lot about the company that is providing insurance. Go with higher rated cargo liability insurance companies that will be around when you have to make a claim.