Truckload services are the most used transportation method in the US. However, there is a difference when we are talking about high-value goods. Since there is a risk associated with this type of cargo, shippers pay extra attention to keep it safe. There is a unique options for ensuring goods arrive at their destination safely, such as full truckload shipping.
In the transportation industry, high-value cargo is seen as a high-paying deal. Different precautions are taken regarding the different types of high-value cargo.
What is high-value cargo?
High-value freight is freight that has a value over $100,000. This specific amount is the maximum provided liability for the carriers. Therefore many types of cargo will be classified as high value, and some might be less than obvious. Luxury items can easily reach that amount but won’t be shipped with classic methods.
High-value cargo refers to construction equipment, cars, cosmetics, and perishable goods. Some less common high-value freight is tobacco, alcohol, hazmat materials, and luxury construction materials such as marble.
The risks associated with shipping high-value freight
Not every type of freight is associated with the same risks, so this depends on the cargo type. The shipper and carrier both face risks in this type of shipping.
First, the carrier is obligated to provide high claim payouts in case of theft or damage. Therefore, they want to ensure the cargo is safe and secure to avoid such claims.
The shipper faces risks as well. They do recover the material cost of the damaged or stolen goods. However, no payouts can cover the missed delivery of goods, which can ruin their credibility in their client’s eyes.
Regarding risks, we need to explain a few potential situations so you can better understand them. While construction equipment is considered high value, it is assessed as low risk. The bulky equipment is unlikely to get stolen. Also, during the summer, it gets transported through flat terrain, so there is no risk of damage.
However, things change when carriers need to transport this equipment during winter. Having to pass through extreme snow conditions can result in damage.
Therefore shippers would want to work with proven carriers to minimize the risks.
Reducing damage risks
Carriers have ways to reduce the damage risks, and they vary for different types of high-value cargo. We already mentioned the example of the difference in reporting construction equipment during the summer and the winter. In such cases, carriers would plan the transportation to take place in the summer to minimize the risks.
Shipping technology goods such as TVs and laptops is another risky process. These goods mostly get stolen at night or on the weekend, so carriers avoid these periods.
Carriers also offer additional services to protect the goods. When transporting high-value cargo, ask if your carrier has temperature control, expedited service, pads and straps, and truckload services. Each one of these additional services offers some kind of protection for the cargo to ensure safety.
Stolen freight statistics
In 2021 the reported cargo thefts were 1,285, with an average of $172,340 per theft. About 49% of the robberies happened in Florida, California, and Texas. This is because these states have large ports that process high cargo volumes and are dense in population for reselling opportunities.
Carriers are affected in different ways when shipping risky cargo. Despite the loss and damage to the load, there are cases of violence toward drivers and stolen trucks.