Buy Smart: Tailoring Property Coverage for Your Fleet

Property coverage is more than a box to check. For small and growing fleets, the right property program turns worst-case scenarios into manageable setbacks.

Done well, it funds repairs, replaces equipment, protects cargo, and keeps cashflow alive while you get back on the road. Here’s how to think about coverage, limits, and endorsements, all within the context of common trucking needs.

cover the equipment that earns your revenue

Start with your rolling stock. Physical Damage insurance (comprehensive and collision for tractors and trailers) pays to repair or replace units you own or are responsible for. It’s where many fleets face valuation choices that matter at claim time. With a transportation-focused agent, discuss stated amount vs. actual cash value vs. agreed and keep schedules current as markets shift.

Learn more about how Joe Morten & Son structures this for fleets here. https://joemorten.com/insurance-solutions/physical-damage-insurance

For trailers you don’t own, consider contingent or non-owned trailer physical damage coverage where appropriate. Don’t forget add-ons that reflect how you actually operate: gap coverage for financed units, towing and storage limits that match real-world rates, and equipment breakdown for power units where endorsed.

protect the cargo your reputation rides on

Next, protect the freight. Motor Truck Cargo responds to covered causes of loss while goods are in your custody. It’s where details matter: refrigeration breakdown for temperature-controlled loads, earned freight coverage, debris removal, and coverage for theft scenarios consistent with your lanes.

Joe Morten & Son outlines options and program design here. https://joemorten.com/insurance-solutions/cargo-insurance-coverage

Align limits with shipper contracts and your largest realistic load value (not your average), and review sub-limits for target commodities.

insure your places - and your downtime

If you own or lease a terminal, shop, or office, a commercial property policy covers buildings and business personal property (i.e., tools, parts, computers, small inventory). Match limits to the current replacement cost—not book value—and document upgrades (i.e., electrical, roof, sprinklers). Pair property with business income/extra expense so a covered loss doesn’t starve cashflow while you repair.

If you keep goods for others at your premises, ask about warehouse legal liability or bailee coverage to address that custody risk.

tie it together with the right endorsements and deductibles

If you own or lease a terminal, shop, or office, a commercial property policy covers buildings and business personal property (i.e., tools, parts, computers, small inventory). Match limits to the current replacement cost—not book value—and document upgrades (i.e., electrical, roof, sprinklers). Pair property with business income/extra expense so a covered loss doesn’t starve cashflow while you repair.

If you keep goods for others at your premises, ask about warehouse legal liability or bailee coverage to address that custody risk.

your trucking-focused partner

Property claims move quickly when your documentation and your coverage design match your operations. That’s why working with a carrier and agent who live in trucking matters. Joe Morten & Son, Inc. focuses on fleets just like yours and can help you tune limits, choose deductibles that protect cashflow, and add the endorsements that fit your cargo and lanes—not someone else’s.

If you’re in the market for an agency that puts you first, we’re here to help.