CHIP Helps Car Haulers Keep More of What They Earn

Challenge

A large motor vehicle freight broker recognized a problem: when their auto haulers’ vehicles were damaged, stolen, totaled, or lost value during transport, standard motor carrier insurance policies weren’t fully covering the losses. Their members, many of whom had only one or two trucks, were forced to pay tens of thousands of dollars for uncovered losses.

The freight broker’s risk management executive asked if Hylant could create a solution to better protect their car haulers.

Solution

Hylant’s Transportation Practice identified coverage gaps affecting small-fleet carriers and partnered with an insurer to develop the Car Haulers Insurance Program (CHIP).

CHIP provides the essential protections every hauler needs, plus enhanced coverages not available in other programs. It fills critical coverage gaps, including diminished value and manifested auto liability exposures, helping reduce unexpected costs and providing specialized claim support for auto haulers.

To date, the competitively priced insurance program has paid over $1.5 million in claims for diminished value, loss of sale value, constructive total loss, and auto liability while driving a cargo unit. That’s money back into the pockets of car haulers.

Learn more about CHIP.

The right coverage can make the difference between a manageable claim and a business-threatening loss. Specialized protection helps car haulers keep moving forward.