Cargo Thefts Fell Last Quarter And Losses Still Doubled

The second quarter numbers say two opposite things at once

Verisk CargoNet counted 677 supply chain theft incidents across the United States and Canada in the second quarter of 2026. That is down 26 percent from the same quarter of 2025 and down 14 percent from the first quarter of this year. By incident count, this was a quiet quarter.

The money went the other direction. Estimated losses came to $304.6 million, up from $135.7 million a year earlier, which puts the average value of a stolen shipment at $564,009. Land Line reported the figures on August 19 after Verisk published the quarterly report, and Keith Lewis, vice president of operations at CargoNet, framed it plainly. "Lower incident volume should not be mistaken for lower risk," he said, adding that the groups behind the biggest losses are not trying to steal more freight, they are trying to find the right shipment.

Thieves traded volume for value

You can see the shift in what got hit. CargoNet logged 80 metal thefts in the quarter against 54 a year ago, with copper the most frequently targeted and aluminum, nickel, tungsten and other industrial metals all climbing. Organized groups also kept going after enterprise computer and networking gear, components, and cryptocurrency mining hardware. Those shipments can be worth several million dollars and they usually roll down the road as plain dry freight, so nothing about the trailer tells anyone what is inside.

Meanwhile the everyday targets cooled off. Food and beverage, auto parts and tires, supplements, protein and over the counter medications all saw fewer incidents. The load that used to get stolen because it was easy is getting stolen less, and the load that gets stolen because it is worth a fortune is getting stolen more.

Your cargo limit was set for an average load, not an average theft

This is where the report should stop being interesting and start being personal. A lot of small carriers run a $100,000 cargo limit because that is the number the broker contract asked for, and it has never been tested. A $564,009 average loss is not a number a $100,000 limit survives. If the load goes missing and the cargo is worth five times your limit, the shipper does not simply absorb the rest, and the piece above your limit lands on you.

The fix is not exciting and it works. Before you book, get the commodity and the declared value in writing, then compare that value to the limit on your motor truck cargo coverage. If you regularly haul metals, electronics or anything else that clears six figures on one trailer, the limit needs to match the freight you actually run, not the freight you ran when the policy was written. Our guide on how motor truck cargo insurance works walks through how limits and deductibles interact on a claim.

Limits are only half of it, the conditions decide the claim

A high limit does not help if the loss falls outside what the policy agreed to cover. Cargo forms carry theft language, and that language usually cares about whether the trailer was attended, whether it was locked, whether it was in a secured lot, and whether you reported the loss promptly. Read those conditions before you need them, because the moment you need them is the moment they stop being negotiable. We broke the common traps down in what actually gets a cargo claim denied.

Two habits are worth building on a high value load. Do not drop the trailer in an unsecured lot, and do not park loaded within the first few hours out of the shipper, which is when organized crews follow trucks. Both are free and both look good to a cargo underwriter at renewal.

The fake pickups slowed down, they did not stop

One bright spot in the report is that CargoNet saw fewer non delivery schemes, the ones where a criminal picks up freight using an MC or DOT number that belongs to a real carrier. Fewer thefts of unattended loaded trailers showed up too. That does not mean the identity problem is solved, and CargoNet also flagged compromised accounts giving criminals access to shipment information, communication systems and transportation management tools. If somebody hauls freight under your authority and never delivers it, the damage starts on your record before it ever reaches an insurance conversation, which is why we wrote about carriers getting their identity stolen earlier this month.

Check your limit while nothing is on fire

Counts are down and losses doubled, which is the clearest signal you will get that the average no longer describes your worst day. Pull your policy, find the cargo limit, and hold it against the most valuable load you booked in the last 90 days. If the limit loses that comparison, fix it before a trailer goes missing.

We can price it against the freight you actually haul. Get a truck insurance quote in under a minute, or call or text 423-264-4255 and we will look at your cargo limit, your deductible and your theft conditions together.