Protecting Your Vehicle: Insurance Questions for Open Auto Transport
Viceroy Auto Transport
Nationwide Auto Transport & Car Shipping Logistics Services
The Federal Motor Carrier Safety Administration (FMCSA) mandates that auto transport carriers maintain minimum levels of insurance coverage to protect consumers. These requirements are outlined in the FMCSA's Insurance Filing Requirements.
The Federal Motor Carrier Safety Administration (FMCSA) sets specific insurance requirements in accordance with?49 CFR Part 387?for entities who apply and obtain operating authority registration in accordance with 49 U.S.C. §§ 13906, 31138, and 31139. FMCSA will not grant operating authority registration until the registrant has in effect the minimum levels of financial responsibility on file with FMCSA. Insurance requirements vary depending on the entity type (motor carrier, broker, freight forwarder) and the entity’s type of operating authority(s), type of cargo, and vehicle type(s). Once operating authority is granted, entities are required to maintain proof of insurance on file to avoid revocation proceedings.
Source: FMCSA
Top Questions to Ask About Open Transport Insurance
When booking open auto transport, it's essential to understand the specifics of a carrier's insurance policy to ensure your vehicle is adequately protected. Here are key questions to consider:
1. What Are the Coverage Limits?
Inquire about the maximum amount the carrier's insurance will pay for damages to your vehicle during transport. This helps determine if the coverage aligns with your vehicle's value.
2. What Is the Deductible?
Some carriers have deductibles up to $2,500, meaning you'd be responsible for this amount before insurance covers any damages. Ensure you're comfortable with the deductible or consider additional coverage.
3. Are There Any Exclusions?
Understand what the policy does not cover, such as damages from weather, road debris, or personal items inside the vehicle.
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4. Is Additional Insurance Available?
If the carrier's policy doesn't fully cover your vehicle's value, ask if you can purchase supplemental insurance for extra protection. You may also contact your current vehicle insurance policy provider for more details.
5. What Is the Claims Process?
Learn how to file a claim, the required documentation, and the typical timeline for resolution in case of damage.
6. How Does the Inspection Process Work?
Ensure a thorough pre-pickup inspection is conducted to document your vehicle's condition, which is crucial if you need to file a claim later.
7. Does Enclosed Transport Offer Better Coverage?
Enclosed transport often provides more comprehensive insurance, suitable for high-value or classic cars. Consider this option if your vehicle requires extra protection.
8. Are There Any Hidden Fees Related to Insurance?
Confirm there are no additional charges associated with the insurance coverage provided by the carrier.
By asking these questions and reviewing all insurance documents thoroughly, you can ensure your vehicle is well-protected during transport, providing peace of mind throughout the process.
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