As if insurance requirements are not confusing enough for truckers, there is additional insurance policies some truckers or carriers need that others do not. This includes intermodal insurance coverage for those who want to haul intermodal chassis into or out of ports or railheads.
Typically, these are truckers who own tractors and lease the intermodal chassis, explains Kelly Teg, account manager with Reliance Partners. She says the company has about 40 current clients that purchase intermodal insurance and that list continues to grow.
As Teg explains it, a carrier (or owner-operator) would hold typical general liability, auto liability and cargo insurance coverage. Intermodal insurance is an additional rider that is purchased under the cargo insurance coverage. A Uniform Intermodal Interchange and Facilities Access Agreement (UIIA) certificate is issued once coverage is acquired. Without an UIIA, a truck will not be allowed into a port area, she says.
The intermodal insurance coverage includes a couple of options, such as hired and non-owned (due to the fact that the chassis are typically leased for less than 30 days), auto policy and trailer interchange coverage. The trailer interchange coverage protects against physical damage to the trailers.
Teg advises that coverage is typically for $100,000, which covers most loads hauled out of ports. However, some high-value loads may require additional coverage.
Ports can be among the busiest locations in America for truckers, but Teg says the coverages offered by most intermodal policies cover any situation that can result in a claim.
“Because we make sure the insured is covered properly, we don’t really have any [surprises],” she says.
For truckers that also move containers from railheads, Teg advises to check with the railroads as some require additional paperwork to be filed.
She goes on to advise anyone interested in hauling intermodal to check their policies. “Make sure you have every coverage in place accurately because if anything happens [you want to be sure you are covered],” Teg says.