Inland Marine Coverage You Can Count On
EQUIPMENT SALES AND RENTAL
MOTOR TRUCK CARGO
COMMERCIAL OUTPUT POLICY 3.0
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BFM Motor Truck Cargo Legal Liability Coverage
BFM Motor Truck Cargo Legal Liability Coverage Reporting Form IM 8312 01 15
Berkley Fire & Marine
covers your legal liability as a common or contract motor carrier for loss to covered property when you have taken physical possession of the covered property for immediate transportation.
— Defense costs are included in MTC. We have the right and duty to defend any suit brought against you as a result of loss to covered property caused by a covered loss which is alleged in the suit to be in excess of the applicable deductible. A defense does not have to be provided once the limit is paid as a result of judgment or settlement. Covered expenses relating to a suit that the insurer is defending are;
Expenses that we incur while investigating and defending the suit;
Actual loss of your wages, up to $1,000 per day, for your time spent away from work at our request;
Expenses that you incur at our request;
All court imposed costs that you are required to pay as a result of any suit we defend;
Interest which accrues on that portion of a judgment for which this coverage applies after entry of the judgment, until we tender, deposit in court, or pay our part of the judgment;
Interest that is awarded against you before the entry of a judgment on that portion of a judgment for which this coverage applies. However If we make a written offer to settle that portion of the suit to which this coverage applies, we will not pay any interest that accrues after the offer to settle; and...
Cost of a bond for the release of attachments. We are not required to furnish a bond itself.
Property In Described Terminals
— we cover direct physical loss caused by a covered peril to property of others while held in transit at a terminal location up to the requested limit of insurance.
Newly Acquired Terminals
— Coverage is provided for covered property at a terminal that the insured acquires during the policy period. The insured must report the newly acquired warehouse within 60 days. A limit of $100,000 is provided and can be increased upon request.
— Supplemental Coverage limits can be increased upon request.
— One occurrence limit is $5,000. All contractual penalties in a 12 month period $50,000
— Coverage is provided up to $5,000 for additional expenses that are necessary to complete delivery of a shipment on time after a loss by alternate means of transportation following an accident. Additional expenses include overtime, transportation costs, storage fees, and equipment rentals. We pay $5,000 in anyone occurrence with an annual aggregate of $25,000.
Tow and Wrecker Expenses
— We pay for your expenses to obtain the release of covered property from a tow or wrecker service following an accident involving the transporting vehicle. We pay $5,000 in anyone occurrence with an annual aggregate of $25,000.
— We pay the cost to remove the debris of covered property that is caused by a covered peril for which you are legally liable. The most we will pay in any one occurrence for debris removal is $50,000.
Sue and Labor Expenses
— For reasonable costs for necessary repairs or emergency measures performed solely to protect covered property from further damage. A $50,000 per occurrence limit is provided
Fire Department Service Charges
— $5,000 limit for your liability for fire department service charges
Earned Freight Charges
— If there is loss or damage to cargo, it will be difficult for a carrier to go back to the shipper and ask for payment. Freight charge coverage will reimburse truckers for freight charges earned but that become uncollectible due to a covered loss. A limit of $25,000 is provided.
— Coverage is provided up to $25,000 for equipment that is used in the transportation of a shipment. Moving equipment includes items used to protect and secure a shipment such as tarps, pallets and pads. Moving equipment also includes equipment used to load and unload a shipment such as hand trucks and small forklifts that are mounted and hauled on a flatbed trailer.
Pollutant Cleanup And Removal
— Coverage is provided up to $25,000 for the expense to extract pollutants from land or water; the limit is a 12 month aggregate limit.
— Coverage is provided with a $10,000 limit
How Much We Pay
— Unlike some competitor forms that limit liability to Actual Cash Value, we pay your legal liability.
— The BFM form has built-in flexible reporting conditions that can be used to determine the premium based on the insured’s trucking operations. The reporting conditions allow an insured to report gross receipts, total sales, mileage or another specified value.
— The following endorsements are available to customize the policy to your customers’ needs. Our underwriters can also work with you to manuscript an endorsement to meet a specific need.
Cargo Employee Dishonesty
IM 8316 01 15
Concealed Damage Exclusion
IM 8318 01 15
Flood and Earth Movement Exclusion
IM 8319 01 15
Named Storm Deductible
IM 8320 01 15
IM 8321 01 15
Parked Trailer Exclusion
IM 8322 01 15
IM 8323 01 15
IM 8324 01 15
Unattended Vehicle Exclusion
IM 8326 01 15
If your motor carrier has broader coverage needs beyond cargo, ask your BFM underwriter about our Logistics Legal Liability Coverage Form.
Berkley National Insurance Company • Berkley Regional Insurance Company • StarNet Insurance Company
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