A contract covering both owned property and property in their care, custody, and control. An all-risk policy covering listed jewelry. Usually each item is described and insured for a specific amount. This form indemnifies the policyholder, a trucker, for loss or damage resulting from his legal liability as a carrier while transporting the property of others. It does not insure against any loss for which he is not legally liable.
Statutory law requires a truckman to carry a minimum amount of coverage.
This form insures the owner of a truck against loss to his own property while being transported. It pays for the loss or damage of cargo for the perils insured against, regardless of the legal liability. A provision in an Inland Marine form which states that any insurance a person has on property in the possession of a bailee will not be for the benefit of the bailee. A clause which states that if a part of a pair or set is lost or damaged the measure of the loss shall be a reasonable and fair proportion of the total value of the set, giving consideration to the importance of the article. The insurer is under no obligation to pay for the total loss of a set when one part is lost, damaged, or destroyed.