Truckstop.com has introduced a less-than-truckload (LTL) option for its CargoShield insurance product. CargoShield provides transactional, shipper’s interest cargo coverage, protecting freight from origin to destination for $12 per load.
“We’re excited to bring this service to the industry, as we have heard from our customers that there’s a real need for a more economical LTL cargo insurance policy,” said Paris Cole, chief executive officer of Truckstop.com. “That this policy provides ‘shipper’s interest’ coverage and is not supplemental or contingent insurance makes it an even greater value to our customers.”
The LTL option will pay claims based on the invoice value of goods, as stated on the bill of lading, instead of released value or freight class formula, which would typically pay a claim at a fraction of the load value. For $12 per load, policy holders receive $50,000 in coverage.
Additionally, the “All-Risk” coverage offers one of the broadest coverage terms in the industry, covering “Acts of God,” theft, and unattended vehicles.
“Our LTL option is very competitive. We’re seeing others in the industry charging over $80 for just $20,000 of coverage,” said Cole. “We have a dedicated policy team processing claims in 30 days or less, which means no chasing after carriers or paperwork. It’s designed to empower the freight community to focus their efforts on revenue-generating activities—not problems or busywork.”
CargoShield is also available as an integration, allowing customers to cover loads without leaving their TMS or other software platform.
To learn more, contact a Truckstop.com integration specialist at www.Truckstop.com or phone 800-203-2540.