Cargo insurance is mandatory and required by law for business carrying other's property. Transportation insurance is added protection you can buy when transporting your own business' goods.
The Saskatchewan Highway Traffic Board, in accordance with the Federal Motor Carrier Act, requires carriers that have Commercial 'A' plate registration on vehicles over 5,000 kg Gross Vehicle Weight (GVW) to have a cargo insurance policy that meets the minimum limits. A vehicle's GVW determines the minimum limits required by law. All loads should be insured to their full value.
Although single trip only cargo policies cannot be obtained, increased single trip limit requirements are available.
To properly define your responsibility to your customers, a Bill of Lading is used.
It's a formal contract where you agree to transport the shipper's goods to a specified destination for a fee. The Bill of Lading should include the declared value of the goods to be transported.
Leased operator's buy-down cargo policy
Leased operators may determine that the employer's policy is subject to a high deductible that they cannot absorb. The leased operator may choose to buy down the deductible to $500.
AIR MILES® Reward Program
If you are an AIR MILES® Reward Program participant, you will be eligible to earn AIR MILES reward miles on your SGI CANADA policy.