On-Hook Liability Insurance
ON-HOOK COVERAGE, also known as motor cargo coverage or motor cargo insurance, applies to when you’re pulling or hooking up another vehicle for repossession by contract.
Motor cargo coverage has a standard minimum policy of $100,000. We also offer total policies up to $1,000,000 for on-hook coverage.
On-hook coverage has a per occurrence deductible which applies and is typically $1,000. Higher limits though can also be purchased for a lower premium.
As with all types of insurance, you’ll have to consider whether you want the lower deductible and higher premium, or vice-versa. This may depend not only on your short-term versus long-term finances, but also on the sheer quantity of customers and vehicles you’re working with, and the rate of damage or other incidents which would fall under your on-hook insurance protection.
Regardless of your preferences and circumstances, we have the on-hook and motor cargo coverage you need. Learn more about which plan works best for you by getting in touch with our team.