Trusted Transport by Tint: Modern Shipper’s Interest Insurance Policy

Participation and Agreement of Covered Shipper

By purchasing coverage for a Vehicle under this Policy, the Covered Shipper acknowledges and agrees that it has read the Policy below, and that it is bound by the terms, conditions, limitations, and exclusions of this Policy, and that such purchase constitutes an agreement between the Covered Shipper and the Named Insured on the terms herein. The Covered Shipper is a beneficiary to this Policy whose Vehicle may be insured under this Policy by virtue of the Covered Shipper’s participation hereunder, subject to the rights, duties, and obligations described herein.

Definitions

This Definitions section is intended to provide clear explanations of key terms used in the Shipper's Interest Insurance Policy ("Policy"). These definitions apply throughout the Policy unless otherwise specified in a particular section or endorsement.

Aggregate Limit: The total maximum amount the Insurer will pay per Covered Shipper for all claims arising from a single Load, regardless of the number of claims made or number of Vehicles shipped, not to exceed one million dollars ($1,000,000) unless otherwise stated in the applicable Certificate of Insurance or communicated to you via the Platform Portal or in writing.

Certificate(s) of Insurance: A document issued pursuant to this Policy that confirms coverage for a specific Vehicle shipment. The Certificate of Insurance serves as evidence of insurance under this Policy.

Covered Shipper: A person or entity that owns the Vehicle, has entered into an agreement to obtain insurance for the shipment of a Vehicle, or has otherwise accepted written responsibility for any Loss and purchases coverage in accordance with the terms of this Policy. For the avoidance of doubt, individual persons do not qualify as Covered Shippers under this Policy except to the extent acting on behalf of a business entity for a commercial purpose. Motor Carriers do not qualify as Covered Shippers. Individual persons may, however, be designated as Loss Payees in their personal capacity where they hold a financial interest in the Vehicle.

Covered Territory: The contiguous forty-eight (48) United States and the District of Columbia, unless otherwise agreed to in writing by the Insurer.

Deductible: The amount stated in the Declarations or as otherwise communicated to a Covered Shipper via the Platform Portal.

Insurer: The insurance company identified as the Insurer in the Declarations that has issued the Policy and is responsible for paying covered claims.

Load: One or more Vehicles belonging to the same Covered Shipper that are carried at the same time on a single Motor Carrier conveyance. For purposes of this Policy, all such Vehicles transported together for the same Covered Shipper on the same conveyance at the same time constitute a single Load.

Loss: Any direct physical loss of or damage to a Vehicle that is not excluded by the Policy.

Loss Payee: Any person or entity designated by the Covered Shipper, and acceptable to the Insurer, that holds a financial or ownership interest in the Vehicle that is the subject of a claim. Any Loss payable under this Policy may be paid to the Covered Shipper or its designated Loss Payee.

Motor Carrier: Any for-hire motor carrier that provides over the road transportation services and that, at all relevant times, (i) is duly licensed, registered and authorized under applicable laws and regulations in the territory or jurisdiction governing the motor carrier’s operations, and (ii) maintains in full force and effect the insurance coverages required by such laws and regulations for the transportation of one or more Vehicles.

Named Insured: The organization(s) identified as the Named Insured in the Declarations.

Per-Vehicle Limit: The maximum amount the Insurer will pay per covered claim for any one Vehicle under this Policy, not to exceed the lesser of (i) one hundred thousand dollars ($100,000); (ii) the actual cash value (ACV); or (iii) the declared value (if any), each in accordance with this Policy.

Platform: A technology platform or partner pre-approved by the Insurer through which shipments are booked and coverage under this Policy is accessed or administered.

Platform Portal: The web-based interface or digital environment, administered by the Insurer or its authorized representative, through which the Covered Shipper may obtain, manage, or cancel coverage, or make a claim under this Policy.

Subrogation: The right of the Insurer to recover the amount it has paid on a claim from any third party legally responsible for the loss.

Transit: The period during which a Vehicle is being transported, beginning when the Vehicle is first moved by the Motor Carrier at the point of origin for the purpose of immediate loading for shipment, and continuing during loading, carriage, unloading, and any temporary stops incidental to transportation as provided in this Policy. Transit ends when the Vehicle is delivered to the final destination identified in the Platform Portal, or when unloaded at another location where the transportation terminates, whichever occurs first.

Vehicle: Any land-operated vehicle, whether operable or inoperable, used or intended for transportation, including but not limited to cars, trucks, SUVs, and vans. No Vehicle will be eligible for coverage under this Policy unless it is declared for shipment, premium is paid, and its actual cash value (ACV) prior to shipment (as determined by the Insurer in its sole discretion) does not exceed one hundred thousand dollars ($100,000). For purposes of this Policy, “Vehicle” does not include recreational vehicles (RVs), motorcycles, trailers, mobile homes, boats, watercraft, or any other class of conveyance unless expressly endorsed.

Section 1: Coverage & Limitations

Insuring Agreement. The Insurer agrees to pay for Loss to a Vehicle occurring during the course of Transit within the Covered Territory, subject to the terms, conditions, exclusions, and limitations of this Policy. This insurance applies only to a Vehicle shipped via a Platform with a Motor Carrier and for which premium is paid in full accordance with this Policy.
Limits & Deductibles. The Insurer’s liability under this Policy will not exceed the Per-Vehicle Limit or the Aggregate Limit, as applicable. The Insurer will pay covered claims in accordance with the terms of this Policy, less any applicable Deductible. This insurance does not provide any legal liability coverage, absent a specific endorsement to the contrary.
Vehicle Valuation.
1. A Vehicle will be valued for Loss purposes at the lesser of (the “Insured Value”):
  1. $100,000;
  2. ACV: Vehicle will be valued at the actual cash value of the Vehicle at the final destination identified in the Platform Portal (“ACV”); or
  3. Declared value: a Vehicle will be valued at the declared value as provided by the Covered Shipper prior to Transit via the Platform Portal, provided that it reasonably reflects the actual cash value (ACV) of the Vehicle. The Insurer reserves the right to adjust the declared value for valuation purposes if the declared value does not reasonably reflect the ACV.
2. If Losses to multiple Vehicles exceed the Aggregate Limit, the Aggregate Limit will be distributed on a pro rata basis among the affected Vehicles, based on each Vehicle’s ACV as provided in this Policy.
Repair claims. Repair claims will be based on reasonable and fair market value repair costs, not exceeding the Insured Value.
Photographic Documentation Required. As a condition precedent to coverage, the Covered Shipper or its designee must take and retain clear, date and time stamped photographs of the Vehicle prior to shipment, including:
1. All sides, top, and bottom views of the condition of the Vehicle being shipped; and
2. The Vehicle as it is packed or secured for transit.

In the event of a claim, the Covered Shipper or its designee must also provide clear, date and time stamped photographs of the Vehicle taken upon receipt at the destination, showing the condition of the Vehicle and any external or internal packaging and damage. Failure to provide such photographic documentation upon request may result in denial of coverage for any loss or damage.

Section 2: Exclusions

This Policy does not cover Loss or any expense arising from or attributable to the following causes, circumstances, or types of property, except where specifically endorsed or otherwise provided:

Preexisting or concealed damage, neglect, or ordinary wear and tear.
The acts or omissions of the Covered Shipper or its employees, agents, or representatives, including accidental, intentional, illegal, fraudulent, dishonest, willful, negligent, or other acts or omissions.
Rust, oxidation, or discoloration on unpacked and/or unprotected cargo.
Loss of market, revenue, use (or inability to use), or deterioration, whether or not caused by delay.
Insufficiency or unsuitability of packing, stowage, or preparation of the Vehicle by the Covered Shipper or its agents or designees prior to the attachment of this Policy.
Electrical, electronic, or mechanical breakdown unless caused by an insured peril.
Seizure, confiscation, or destruction of a Vehicle by any government or public authority.
Loss or damage caused by or resulting from war or warlike acts, revolution, rebellion, insurrection, acts of terrorism, nuclear reaction or radiation, contamination, or the use of any kind of weapon.
Personal property, loose goods, or unsecured items that are located inside of or not otherwise permanently affixed to the Vehicle, including but not limited to items stored in the trunk, glove compartment, or any other compartment of the Vehicle.
Loss or damage caused by extreme weather events, including but not limited to hurricanes, tornadoes, floods, earthquake or earth movement, wildfire, severe blizzards, or named storms causing widespread disruption or classified as major weather events by the National Weather Service. For clarity, this exclusion does not apply to damage caused by ordinary wind, rain, hail, water damage, dust or similar weather conditions typically encountered during Transit.
Loss or damage based on a reduction in value of the Vehicle following repair or resale (i.e. diminished value).
Actual costs of shipping, return shipping, freight charges, duties, taxes, penalties, or any incidental, consequential, storage, or other administrative costs associated with the transportation of a Vehicle unless specifically provided in this Policy.

Section 3: Other Conditions

Undeliverable Vehicles. This insurance will remain in effect for a Vehicle that is refused or undeliverable, including during the period awaiting reshipment, return, or alternate disposition, until the Vehicle is returned to the original point of origin or other location designated by the shipper, subject to a maximum of ten (10) days.
Change of Address or Route. This insurance will remain in effect during a reasonable deviation from the normal course of Transit, change of address, or reasonable delay in shipment, provided the Covered Shipper reports such circumstances to the Insurer immediately upon discovery and pays additional premium, if required by the Insurer in its sole discretion.
Towing and Storage Fees. Reasonable towing fees and up to five (5) days of storage fees incurred as a direct result of covered physical damage to a Vehicle will be reimbursed under this Policy, provided that such fees are necessary to protect the Vehicle from further damage or to facilitate its repair or return. Such fees will be payable in addition to any limits of liability stated in this Policy. This coverage does not apply in the absence of covered physical damage, nor does it extend to storage charges accruing after the Vehicle has been repaired, returned to the Covered Shipper, or otherwise removed from Transit.

Section 4: Loss Adjustment

Notice of Loss. In the event of Loss, the Covered Shipper must notify the Insurer or its designated representative promptly after becoming aware of such Loss, but no later than seven (7) days following such Loss. All Losses must be reported in accordance with the claim instructions provided by the Insurer. Claims must be supported by sufficient documentation, including photos, receipts, bills of lading, and police reports, which may need to be provided to us, at our discretion and upon our request, in order to resolve your claim. At a minimum, all claims submitted to us must include multiple detailed photos of the damage to the Vehicle and, if applicable, photos of the repaired property. At our discretion, claims involving theft, vandalism, hit and run, or other criminal acts require police reports. Failure to provide evidence of damage may result in the denial of your claim.
Duty to Minimize Losses. The Covered Shipper must take reasonable steps to protect the Vehicle from loss or to minimize loss once known and to ensure that all rights against carriers, bailees or other third parties are properly preserved and exercised (if reasonable to do so). The Insurer will reimburse reasonable, documented and necessary expenses incurred in good faith in pursuit thereof, in addition to any covered claim amount.
Other Insurance. If other insurance is available to the Covered Shipper for a loss covered under this Policy, the Insurer's obligations are limited as follows:
1. Primary Insurance. This insurance is primary. Our obligations are not affected unless any of the other insurance is also primary. Then, we will share with all that other insurance by the method described in (b) below.
2. Method of Sharing. If the Covered Shipper makes a claim under this Policy and also under one or more other insurance policies for the same loss, the Insurer will share liability with the other insurers in proportion to the applicable policy limits, so that the Insured Shipper is not compensated more than the amount of the actual loss. If any of the other insurance permits contribution by equal shares, the Insurer will contribute using that method. Otherwise, the Insurer will contribute based on the ratio of this Policy's limit to the total applicable limits of all responding insurance.
3. Recoveries. In no event will the Insurer be liable for any portion of loss or damage for which the Covered Shipper has received payment from a third party, or for any amount in excess of the actual amount of the loss or damage. Any amounts recovered from other insurance or third parties for the same loss will be deducted from the amount payable by the Insurer under this Policy.
No Excess Compensation. A Covered Shipper may not be compensated more than the actual amount of Loss. If the Covered Shipper makes a claim under this Policy and also under any other insurance policy for the same Loss, the Insurer will share liability with the other insurers as outlined herein. Any amounts recovered from other insurance or third parties for the same Loss will reduce the amount payable under this Policy, so that the total recovery does not exceed the actual amount of the Loss. For the avoidance of doubt, nothing in this Section limits the Insurer’s right of recovery against other insurers or third parties, including, without limitation, any Motor Carrier.

Section 5: Administration and Payments

Cancellation. Unless otherwise required by applicable law:
1. By Covered Shipper. The Covered Shipper may cancel coverage for any of its shipments at any time prior to the commencement of Transit by submitting a cancellation request to the Insurer via the Platform Portal or in writing. No cancellation is permitted once Transit has begun. Any refund of premium for cancelled coverage will be issued to the original payment method used for purchase. Refunds are processed as separate transactions and will not be applied as credits toward future premium payments.
2. By Insurer. The Insurer may cancel coverage for any shipment by written notice at any time prior to the attachment of coverage.
3. Policy Cancellation. This Policy and any coverage provided hereunder may be cancelled in its entirety by the Named Insured or the Insurer upon sixty (60) days' written notice to the other party. However, cancellation will not affect:
  1. Any shipment for which premium has already been paid; or
  2. Any shipment that has been reported to the Insurer and for which coverage has commenced prior to the date of cancellation.
Claims Payments. Payment of any claim under this Policy may be made to the Covered Shipper or its designated Loss Payee, unless otherwise specifically provided herein. Any such payment will fully satisfy the Insurer’s obligations for that claim and will discharge the Insurer from all further liability in accordance with Section 5.F. (Release Upon Payment).
Lienholders. If a Vehicle that is the subject of a claim under this Policy is subject to a lien, the Insurer may, in its discretion and in accordance with applicable law, make payment directly to the lienholder in satisfaction of its interest. Any such payment to a lienholder will reduce the amount otherwise payable by the Insurer under this Policy. Payment to a lienholder in accordance with this Section will fully discharge the Insurer’s liability under this Policy for the portion of the claim paid to the lienholder.
Assignment and Subrogation. Upon payment of any claimed Loss under this Policy, the Insurer will be Subrogated to all rights of the Covered Shipper against any third party, including but not limited to the Motor Carrier, in respect of such Loss. The Covered Shipper agrees to assist and cooperate with the Insurer in the exercise of such rights, including any assignment of claims or execution of any documents as requested by the Insurer. In addition, the Covered Shipper will refrain from any action that may impair or limit the Insurer's Subrogation rights and will not, without the prior written consent of the Insurer, release or waive any rights of recovery against any third party, including any Motor Carrier or bailee. Any such waiver will not affect the Insurer’s Subrogation rights unless specifically authorized by the Insurer.
Release Upon Payment. Acceptance by the Covered Shipper, Loss Payee, applicable lienholder, or any other claimant under this Policy of any payment made by the Insurer for a claim will constitute a full, final, and irrevocable release of the Insurer, the Named Insured, the insurance producer, and their respective affiliates, subsidiaries, underwriters, reinsurers, brokers, agents, representatives, and employees from all liability in any way arising out of or related to the Loss, including in contract, tort, statute, or other liability, and including any subrogated or assigned claims, each to the extent of the payment made hereunder. No further payment or obligation will be due from the Insurer unless expressly agreed to in writing by an authorized officer of the Insurer.
Certificates of Insurance. The Named Insured is authorized to issue Certificates of Insurance under this Policy as evidence of coverage of a Vehicle, in a form and manner acceptable and approved in writing by the Insurer.
Reporting of Shipments. The Named Insured must report each shipment or group of shipments subject to this Policy as soon as practicable after becoming aware of such shipment, unless otherwise agreed in writing with the Insurer. Premium will be calculated based on enrollment of Covered Shippers via the Platform. Willful failure to report shipments may render this Policy voidable at the option of the Insurer.
Inspection of Records. The Insurer, or its designated representatives, will have the right to inspect the books and records of the Named Insured related to shipments insured under this Policy during regular business hours at any time while this Policy is in effect, or within one year following its expiration or termination.

Section 6: General Conditions

Intended Beneficiaries. Covered Shippers are intended third-party beneficiaries of this Policy, entitled to receive coverage for their Vehicles in accordance with the terms of this Policy. Nothing in this Policy will be construed to create any rights in any person or entity other than the Named Insured, the Insurer, and Covered Shippers who obtain coverage hereunder.
Assignment. This Policy may not be assigned, in whole or in part, without the prior written consent of the Insurer, except where such assignment is made by operation of law.
Governing Law. This Policy will be governed by and construed in accordance with the laws of the state in which this Policy is issued, without regard to its conflict of law principles.
Jurisdiction and Venue. Any legal action or proceeding arising out of or relating to this Policy must be brought exclusively in a court of competent jurisdiction located in New York, New York, unless the Insurer otherwise agrees in writing.
Sanctions. Whenever coverage provided by this Policy would be in violation of any economic or trade sanctions such as, but not limited to, those sanctions administered and enforced by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), such coverage will be null and void.
Waiver. The failure of either party to enforce any term or condition of this Policy will not be construed as a waiver of that term or condition. Any waiver must be made in writing and signed by the party granting it.
Entire Agreement. This Policy, including the Declarations, any endorsements, and the certificates issued hereunder, constitutes the entire agreement between the parties herein with respect to the subject matter hereof. Any changes must be made in writing and agreed to by the Insurer.
Severability. If any provision of this Policy is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, the remaining provisions will remain in full force and effect to the extent permitted by law.
Incorporation of Producer Terms of Service. The Producer Terms of Service available at https://www.tint.ai/producer-terms-of-service are hereby incorporated by reference into and made a part of this Policy. By purchasing coverage, the Covered Shipper acknowledges and agrees to be bound by the Producer Terms of Service, as may be amended from time to time. In the event of any conflict between the Producer Terms of Service and this Policy, the terms of this Policy will control.