What Are the Key Differences Between Founder Shield and Travelers Cargo and Transit Insurance?
Compare Combined Transit and Inland Cargo
Founder Shield brokers Transit & Transportation Insurance and places it with third-party carriers it says are rated A- or better by AM Best. Travelers underwrites inland marine cargo as Cargo Pak or Cargo and Logistics Pak. Founder Shield does not name the specific issuer for this line; Travelers’ reviewed cargo pages describe Travelers as the underwriter and do not name a separate issuing entity. [3] [4] [8]
What Each Product Says It Covers
Founder Shield’s product description includes cargo damage, loss or theft in transit, damage to company vehicles, and third-party liability from transportation operations, distinct from commercial auto. Travelers’ transportation policy covers a business’s property while in transit on its own vehicles or through a public or contract motor, rail or air carrier. Travelers also says Cargo Pak and Cargo and Logistics Pak are set up for each operation because trucking services are not standardized. [5] [8]
How You Buy
You request Founder Shield coverage on the site or through an advisor; Founder Shield says its placement team then approaches carriers. Travelers cargo is bought through a Travelers independent agent, who the site says can tailor coverage to the business’s risks. Founder Shield markets to shippers, carriers, logistics firms, manufacturers, distributors and 3PLs; Travelers markets transportation cover to manufacturers, wholesalers, retailers and distributors, and cargo-and-logistics cover to motor carriers, freight forwarders, logistics providers, freight brokers and warehousemen. Neither reviewed set of pages publishes limits. [3] [5] [8]
What Should You Confirm in Founder Shield and Travelers Cargo and Transit Insurance Quotes?
- Ask Founder Shield which carrier is placing the risk and whether vehicle damage is included. [4] [5]
- Ask Travelers whether the quote is transportation for owned goods or Cargo Pak for a carrier or warehouse. [8]
- Get written limits and deductibles from both; the reviewed pages do not publish them. [5] [8]
- Ask Travelers how Cargo Pak is set up for your operation, which it says varies because trucking services are not standardized. [8]