In a broader term, livestock insurance policy is considered as a risk coverage for cattle against any kind of loss. Usually, farmers get livestock insurance for safeguarding their business. However, we will talk about the significance of livestock insurance in Australia for transporters. Yes, transportation agencies also need livestock insurance in some cases. People running heavy vehicle transportation businesses have to deal with different types of goods transportation. Sometimes, livestock like cows, goats or horses needs to be transported from one place to another. This duty involves the risk of death or injuries during the journey. Livestock transportation is different from other goods transportation because you become accountable for several lives. Mishaps like road accidents, death during the transportation process for injuries may land you in legal troubles. In order to avoid such situations, get a livestock insurance policy covering every potential risk. We are going to elaborate on this insurance in detail here.
Coverages in livestock insurance for transporters
- While on the road, a transportation vehicle remains prone to accidental situations. If the livestock is affected due to a road accident, its loss can be covered in the insurance policy.
- Death due to disease during the journey is also covered in this insurance. Sometimes, cattle cannot withstand the climatic conditions or transportation environment that result in an unexpected death. You don’t have to worry about such laws if the journey is already insured.
- Not only death but permanent total disablement is also covered in this insurance policy.
Important factors of livestock insurance in Australia
Cargo is the livestock being transported from one place to another. safety of cargo is the first priority of every transporter. Difficult terrain conditions may result in weight shifting that becomes the reason for unstable trailers. If injury or death occurs during the journey, or livestock escapes from the trailer, it becomes the accountability of the insurance company to pay the adequate claim.
Your transportation vehicle is a more valuable asset than livestock. If animals have occurred to the livestock, the risk of damaging vehicles also remains higher. Not only automobile damage but you also need to cover the bodily injury of the driver and co-passenger. All these factors are covered in a feasible livestock insurance policy. Some of these risks may also be covered in general auto insurance. Check the coverage factors from their terms and conditions. If everything is already insured, ask the insurance company for tailored plans.
General liability insurance
Apart from livestock, vehicle and driver, you also become liable for third party damage in some cases. If the livestock you are carrying creates problems for others, some legal troubles may occur. If an accident causes damage to the third party due to the interference of livestock, commercial general liability insurance can cover the expenses.
You need to understand that livestock is something different from static goods we transport on a regular basis. Along with loss and damage, the risk of death is also a big issue to consider. Therefore, read the terms and conditions of your livestock insurance policy carefully before signing the contract. It is advisable to find a transport insurance company holding specialization in heavy vehicle risk coverage.