Carrier Insurance Limits
Shipwell is pleased to announce the addition of a carrier insurance coverage check. This new feature will help to ensure that carriers have adequate insurance coverage for the shipments that they are assigned or tendered.
Usage
The carrier insurance limit check will prohibit carriers from bidding on shipments, assignment of a shipment by a shipper, or tendered shipments which they do not have sufficient cargo insurance limits - for cargo equipment types like DRY_VAN, or REEFER, or auto liability insurance limits - for DRIVEAWAY and POWER_ONLY equipment types.
The system will now check the total declared value of the shipment or sum up the individual line item values and take the maximum of either the total declared value override or the sum of the declared line items and ensure that the carrier has insurance that is equal to or greater than the declared value.
If the carrier does not have the appropriate cargo or auto liability insurance coverage amounts, you will receive this error in the platform:
And you will receive this error in the API on the carrier-config endpoint
{
"error": "ValidationError",
"error_description": "Invalid input.",
"non_field_errors": [
"Carrier does not have enough Cargo Insurance to cover declared value"
]
}
Overriding Insurance
Users with the override insurance limit check permission shown below:
can override the insurance limit check and exclude the carrier from this check going forward by checking the appropriate box in the carrier profile indicated below:
Every carrier will now have an "Exclude carrier from insurance limit checks" on their profile. By default, this field will be turned off, which means carriers will not be excluded from this insurance limit check.
Example Calculation
Shipment total declared value override: 125,000.00 USD
Shipment line item totals: 150,000.00 USD
Equipment type: DRY_VAN
Carrier Cargo Insurance: 125,000.00 USD
Calculation logic:
maximum of 125,000.00 and 150,000.00 is 150,000 USD
Carrier cargo insurance is < 150,000 USD so this carrier would not have the requisite amount of coverage
Benefits of the Carrier Insurance Limit Check
The carrier insurance limit check offers a number of benefits, including:
Increased peace of mind for shippers: Shippers can be confident that their shipments are being transported by carriers that have adequate insurance coverage.
Reduced risk of financial loss: Shippers are less likely to experience financial loss in the event of a loss or damage to their shipment if the carrier has adequate insurance coverage.
Improved carrier selection process: Shippers can use the carrier insurance limit check to help them select carriers that have the appropriate level of insurance coverage for their needs.
How to Override the Carrier Insurance Limit Check
If you need to override the carrier insurance limit check for a particular carrier, you can do so by following these steps:
Go to the carrier profile in Shipwell.
Check the box next to the "Override Cargo Insurance Limit Check" or "Override Auto Liability Insurance Limit Check" permission.
Click the "Save" button.
Once you have overridden the carrier insurance limit check, the carrier will be able to be assigned or tendered shipments even if they do not have sufficient insurance coverage.
Important Notes
The carrier insurance limit check is a new feature and is still under development. We may make adjustments to the way the check works in the future.
We recommend that you review your carrier insurance requirements carefully before overriding the carrier insurance limit check.
If you have any questions about the carrier insurance limit check, please contact Shipwell support.