As an owner operator, you are responsible for insuring your risk as the companies you work for will not be purchasing insurance for you.
If you would like work comp you should purchase that. You should also purchase commercial auto including liability, and cargo insurance. Your agreement with the companies you work for should clearly spell out who is responsible for the cargo during transit. This can help you understand how much cargo insurance coverage you may need.
Companies who use lots of owner operators have a hard time finding insurance since their insurance carriers have a tough time figuring out how much risk there is for the non-owned part of the auto exposure. It is normal for them to request copies of proof of your insurance so they can show that to their insurance carriers.
HI, For a person, whenever he travels in a bus, train, ship or airplane, insurance is mandatory and is always included in the fare. Whereas for cargo it is optional. Taking insurance for the cargo consigned is at the option of the Consignor. There is no law imposing insurance on the goods consigned. In the International Trade, sometimes the importers insist on not having insurance included in the quotations. As per international commercial terms also there is a clear differentiation between shipment with insurance(Cost, Insurance and Freight) and without Insurance(Cost and Freight). The shipping company is held responsible, for any sort of damage caused to the cargo because of negligence by the shipping company though there is no insurance involved. The shipping company is bound to pay the penalty. In case the damage is due to natural calamities or circumstances beyond the capacity of the shipping company, in the absence of insurance, the consignor cannot hold the shipping company liable.
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