The average cost of cargo insurance can vary significantly between carriers depending on a variety of factors. Legal regulations from the FMCSA state that all auto haulers should have at least one million dollars in terms of liability coverage. While the quote you receive can vary based on the insurer, expect to spend somewhere between $1,000 and $1,500 per month for cargo insurance.
However, keep in mind that some contracts may require you to carry a larger amount of cargo insurance, where the amount may also change depending on where your business is based. If you are transporting extremely valuable cars, expect to pay higher premiums to compensate for higher levels of risk.
Before giving your business a quote, insurance companies take into account several factors that can also affect the cost of cargo insurance apart from your desired coverage needs. Some of these may include:
To learn more about how to find affordable trucking insurance quotes for smaller companies, take a look at the rest of Assured Standard’s resources!