Tanker Insurance
Hauling dry cargo can be difficult, but transporting dangerous goods or hazardous material can be downright risky. From driver safety to cargo security to environmental protection, your tanker insurance policy needs to respond in a variety of scenarios – find out what coverage you may need, and when.
What kind of coverage do tanker trucks and trailers need?
With a shortage of qualified drivers and the hazards of volatile material, tankers are not only at risk of collision (like other types of trucks) but could also face particularly severe consequences if things go wrong.
A fender bender on the highway can go from bad to worse if your liquid bulk trailer is punctured. Trailers with contents under pressure call for close attention when it comes to hooking them up or releasing the pressure. The bottom line is that tankers are exposed to more risk than some other types of trailers, and it’s important to be sure you’re covered.
We’ve developed a policy tailored to tanker trailer operators, including features like:
- Commercial Automobile Coverage
- Cargo Insurance
- Commercial General Liability
- Warehousemen’s Legal Liability
- Property Insurance
Need more? No problem.
We have other handy coverages for tanker operators, like our Select Endorsement: this extends coverage to include your operations as a freight forwarder or load broker.
When you deal with shipping contracts, you’ll welcome the features of this coverage, including Declared Value of Cargo, Brands and Labels, and Control of Salvage. Your broker can walk you through all the advantages of Select Endorsement!
When can tanker insurance come to your rescue?
Volatile loads require careful attention and special safeguards. Entrance and exit ramps, bumpy roads, and sudden stops can cause contents to shift and compromise your control of the vehicle. In the worst cases, this can lead to disaster for your driver, your company, and your surroundings.
Your tanker insurance should be broad enough to respond in a range of situations that could arise between point A and point B, but also deep enough to ease the costly burden of a covered loss. Here are a few scenarios where specific features can come into play.
Hazardous cargo can go up in smoke before you know it
When you haul pressurized cargo – like a liquid propane tanker – you may be more vulnerable to loss. For instance, a puncture or heat source could lead to fire or explosion, endangering your driver and others on the road and potentially leaving you with a total loss of cargo.
A regular business insurance policy could fall short in this case, but cargo insurance would help cover you for the damages or loss. This help from your policy could mean the difference between a financial annoyance and financial disaster.
A collision can be catastrophic for other drivers
A collision involving a tank trailer can have a severe impact on several parties. Imagine this: you’re in charge of a liquid bulk transfer, and the high centre of gravity and sloshing cargo within interferes with your ability to steer. A violent shift in weight causes your tanker to rollover into traffic.
Dealing with the damage to your cargo is one thing; dealing with potentially severe damage to surrounding vehicles can quickly escalate the problem. If your tanker damages other vehicles, you’d look to your commercial automobile coverage to help cover the costly consequences.
Assistance at every step of the way
On top of our comprehensive core coverage and exceptional customer service, your business insurance policy grants you access to our Assist services for extra peace of mind.
Learn more about how and when our Assist services can come to your rescue!
Commercial Truck Filings
Proving that you have enough liability insurance to meet all federal requirements isn’t an option – it’s a necessity. That’s why we help complete and expedite federal filings for our customers who do business in the U.S.
Plans change, and last-minute arrangements can be stressful. When you’re short on time, we can get things moving right away, arranging your financial proof of responsibility quickly so you can stay on track without risking a penalty when you cross the border.
Managing Risk
We know that risk differs across industries. We also know that your tanker operation is unique, and the challenges you face deserve careful consideration and a personalized approach. Insurance plays an important role, but it’s not everything – you can lean on our industry expertise, library of focused resources, and confident guidance to take your protection and loss prevention to the next level.
