Contingent Cargo Insurance
Pricing
A backstop cargo policy held at the freight broker level that can pay a claim when the carrier's own cargo policy fails to.
Detailed Explanation
The carrier's cargo policy is always the primary coverage. Contingent cargo insurance exists for the failure cases — a policy that lapsed after the certificate was issued, a claim denied on an exclusion, or an insolvent insurer. Freight moving through a well-run brokerage gets this second layer automatically; it's one of the practical reasons shippers vet who brokers their freight, not just who hauls it.
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Cargo InsuranceInsurance that covers loss or damage to goods during transit. Distinct from carrier liability, which is the carrier's tariff-limited responsibility (often a per-pound amount far below the cargo's value); cargo insurance protects the declared value of the goods themselves.Freight BrokerA licensed intermediary that connects shippers with carriers.