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June 6, 2022 | Trucker Tools

New Feature Alert: One-Click Spot Market Cargo Insurance Now Available in Trucker Tools App

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We’re excited to announce our new integration partnership with Loadsure, a digital cargo insurer that uses automation and artificial intelligence to provide lightning-fast quotes and claims processing. Our partnership with Loadsure allows you to add cargo insurance to spot market loads on a load-by-load basis right in the Trucker Tools’ driver app. You can get instant quotes on cargo insurance on loads before you book them and can pick and choose which loads to insure. Read on to learn more about how Loadsure is disrupting the traditional cargo insurance landscape and how you can use Loadsure’s coverage in the Trucker Tools app to reduce risk in your trucking business.

About Loadsure

What makes Loadsure different from other types of cargo insurance is that you get instant access to freight insurance quotes and can insure spot market loads on a load-by-load basis. One of the big reasons Trucker Tools has partnered with Loadsure is convenience. Thanks to our partnership with Loadsure, you can get a quote and insure a spot load in a matter of minutes. You also can file claims easily with Loadsure, accelerate most claims from days/weeks to minutes and get near-instant access to claim payments. With Loadsure, you can reduce your annual insurance costs by as much as 80 percent — and potentially save even more when you ditch your annual coverage and purchase per-load cargo insurance.

“Traditional insurance is sold on an annualized basis and you don’t have the ability to purchase insurance at a transactional level that is cost effective,” said Johnny McCord, Loadsure’s Founder and CEO, in an interview with Trucker Tools. “What Loadsure brings to the market is the way to purchase insurance as you need it, not if you need it. Another differentiator is that we provide automated underwriting at that granular level that ultimately means we can provide near instant quotes.”

“Traditional insurance is sold on an annualized basis and you don’t have the ability to purchase insurance at a transactional level that is cost effective,” said Johnny McCord, Loadsure’s Founder and CEO, in an interview with Trucker Tools. “What Loadsure brings to the market is the way to purchase insurance as you need it, not if you need it. Another differentiator is that we provide automated underwriting at that granular level that ultimately means we can provide near instant quotes.”

One-Click Spot Market Load Insurance

Thanks to Trucker Tools’ partnership with Loadsure, you can reduce the risk of financial loss on spot loads right in the Trucker Tools driver app. Before you even book a load or submit a rate quote in the app, you can get an instant quote for cargo insurance on the load in the app. This is a powerful feature because it allows you to estimate your net profit on the load before you agree to move it, which is especially important if you haul high-value freight. Traditional cargo insurance requires you to purchase coverage on an annual basis and often involves large monthly premiums, which impact your cash flow. With Loadsure and the Trucker Tools app, you can decide which loads need coverage or a higher level of coverage without paying a monthly premium.

But Wait — Doesn’t My Carrier Liability Policy or My Broker’s Policy Cover Cargo Claims?

As Loadsure’s Senior Sales Executive Ryan Penfold said in a recent episode of Trucker Tools Talks, it’s highly recommended that you read the fine print of your carrier liability insurance policy to determine whether or not your policy covers the cargo you haul. All-risk policies tend to cover cargo claims, but there are certain situations that may disqualify a claim. It’s important also to note that freight brokers aren’t required by law to carry cargo insurance. Most brokers and 3PLs, however, do carry a contingent cargo policy, which provides coverage when and if an owner operator/carrier is responsible for cargo losses and is unable to pay for those losses. Of course, it may impact your relationship with the broker and their shipper if you can’t cover a cargo loss and it must be covered by the broker’s contingent cargo policy. To reduce that risk, consider insuring the freight you run with Loadsure, now available in Trucker Tools’ app.

To learn more about Loadsure, visit https://www.loadsure.net.

To download the Trucker Tools app, visit https://www.truckertools.com/carriers/.

To start using Trucker Tools’ free carrier software platform, visit https://bookaload.truckertools.com/.

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