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Everything You Need to Know About Taking Auto Transport Insurance

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Everything You Need to Know About Taking Auto Transport Insurance

If you own a vehicle, it is important to take auto insurance that will safeguard you and your vehicle. Auto insurance covers all the damages incurred to your car, driver, passengers, and pedestrians, against accidents.

When you are transporting your vehicle to another location, it becomes highly essential to take up auto transport insurance. Irrespective of who owns the car, you would need auto insurance to provide you comprehensive protection if you want to transport it.

To get the best benefits of auto transport insurance, it is imperative to avail the ideal policy from a trusted provider. For instance, Surex is a trusted insurance broker that can offer you comprehensive auto insurance plans that will protect you.

If you are new to auto transport insurance, this article will help you as we have prepared a quick guide for you.

Who Pays for Auto Transport Insurance?

An auto transport insurance is just like any other insurance that requires premiums and has tenure. There are different types of policies and their coverage that helps in understanding the best plan for yourself. Once you have paid the premiums, you can make a claim when something happens to your car during transport. The insurance company will pay for your claim against your premiums.

You need to choose an insurance policy that will best suit your conditions and provide you with the best benefits. It is essential to check the terms and conditions of the insurance policy with your insurance provider to get better clarity regarding the claim. Make sure to choose a comprehensive plan that will cover everything for you.

What Are the Terms You Need to Know About Auto Transport Insurance?

There are quite a few terms that you need to be aware of regarding auto transport insurance in order to better understand it:

Carrier: A carrier in the context of auto transport insurance is the company that will transport your vehicle. A carrier has many names like car shipper, car hauler, transport carrier, or auto hauler.

Supplemental: Supplemental is anything that is extra. Hence, in the context of insurance, it depicts the supplemental coverage offered by the broker.

Licensed Carrier: Just like you need a license to drive your car, a carrier also requires a license to transport vehicles.

What Does the Insurance Policy Cover?

  1. type of insurance is made to cover damage that occurs while loading the car, during transit, and unloading it. In case your car was shipped in poor condition, the damages will not be covered in the policy.

What Are Different Types of Insurance Coverage?

Typically, there are three coverage types in auto transport insurance:

 

Customer

Carrier

Broker

Insurance Type

 

Auto insurance

Liability coverage

Supplement coverage

Insurance Summary

Auto insurance not included but supplemented insurance can be bought

Federal minimums for insurance and license

Licensed and insured carriers required. Will offer supplemental coverage

Insurance Requirements

State minimums

Federal minimums

Well-insured carriers

Shipping

Needed

Needed

Optional

 

  1. Customer Insurance: Your car has to be insured before you can transport it.
  2. Carrier Insurance: The carrier should also be insured properly in order to cover the damage to your vehicle.
  3. Broker Insurance: Brokers may offer supplemental coverage to further attract customers.

Key Things Regarding Auto Transport Insurance

  • Fraud: There are auto transport criminals who are the same as bank robbers. There are plenty of things that you need to safeguard yourself from:
  • Fake Companies: You will come across many fake companies who can take up your money and provide you with fraudulent services. They may appear legitimate but actually are extremely fake.
  • Bad Companies: Bad companies are different from fake companies. They are legit but do not provide quality insurance services. It is similar to getting surgery from someone who has not studied medicine. You will come across many bad companies, and it is your responsibility to steer clear of them.

How to Protect Yourself From Malpractice?

There are a bunch of things that you can do to safeguard your interests from fraudulent practices and make the most of your auto transport insurance:

  • Difference Between Carrier and Broker: Before taking up the insurance, you must be well-versed with the difference between a broker and a carrier. Brokers are the ones who connect you with a carrier and are not related to shipping.
  • Verify the Paperwork: You should act smart and verify all the documentation prior to signing the papers. In order to avoid chaos later, you need to act proactively now.
  • Check the Financial Transactions: When you are making financial transactions, it is important to keep an eye on it and check whether the company is not conducting any malpractice.
  • Refer to Reviews: When you are selecting an insurance company or carrier, it is important to check the reviews to better understand their services. You can check the customer review put up on the site for reference.

The Bottom Line

What happens to your car when you are transporting to a different location? How are you going to cover the unexpected expenses and the medical bills (in case of injuries)? Without any contingency plan, you will have to suffer financial burdens. That’s why you need to think about taking auto transport insurance. It is the best coverage for your car that will protect you from unexpected expenses.

Make sure to choose an ideal insurance provider that can offer a comprehensive auto transport insurance solution. In this guide, we have covered all the fundamentals of auto insurance that will help you along the way.



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