Is my vehicle insured during transport?
Absolutely, Young’s Transport carries an up-to-date cargo policy with no deductible to you. In the event of carrier neglect or an accident, we would fully take care of the damage. The only time your insurance would take over is an “act of god” i.e. hurricane, tornado etc. However, we DO NOT insure your household goods left in your car. Any items left in the car are at your own risk.
FMCSA requires us to carry liability insurance by law. In 2011 the FMCSA ruled that we do not have to carry Cargo Insurance. (Your vehicle would be our cargo). Young’s Transport’s philosophy is that we prefer to protect our company and your vehicle by continuing to carry Cargo coverage. Our Cargo insurance covers your vehicle while it is on our transport. If you place any personal items in the vehicle, they will not be covered by our insurance as we are an auto transport company, not a “common goods carrier”. We require our owner operators to also carry cargo coverage to protect themselves as well as the client.
What does “Bonded” mean?
Many internet brokers boast that they are “Bonded and Insured” for your protection. The FMCSA requires brokers to carry a $75,000.00 surety bond or trust fund. This does nothing to protect you, the consumer. It is designed to protect carriers such as Young’s Transport. The bond or trust fund is in place in case the broker doesn’t pay the trucking companies what is owed for transporting your vehicle. Trucking companies can file against their bond/trust fund in hopes of being paid. As a Carrier, we have worked with brokers over the years.