The deductible is determined by the declared value for coverage. In the event of a damaged/or lost shipment resulting in a claim, 10% is calculated off of the amount of the claim and not the full value of the purchased certificate. There is a minimum of $100 deductible.
A. For Dynamic customers and pricing: Effective 04/30/2024 for most insuring customers. A 10% deductible will be applied to the total cost of the claim, with a minimum of $100. The certificate will display 10% of the total of the declared value in a dollar amount.
B. Preferred Pricing: There is no deductible up to 10,000. Customers have a small window of opportunity to remain eligible for this option, as this is an introductory rate plan. Once a customer insures above 10,000.00 the 10% deductible and Dynamic pricing will apply toward any claim for that insured shipment.
C. Account Pricing: In some instances, Loadsure may review a customer's account-based loss and claims ratios to reconsider the risk. Resulting in a specific increase to the premium and possibly a set deductible vs those listed above.
D. Prior to 04/30/2024: Customers were subject to tiered deductibles. $0 to 9,999.00; $500 from 10,000 to 24,999; $1,000 from 25,000 to 99,000.00; and then 2% of the declared value.