Cargo Insurance

Are you shipping products from overseas? What happens if you never get that product? Cargo insurance provides protection against risk of physical loss or damage to goods from any external cause during shipping. Cargo/Freight insurance can provide coverage for goods damaged during transport by land, air or water. It also can allow coverage in situations where the boat is ported or even if the goods are in between destinations.

This insurance will cover all “acts of God’ and many perils that would be excluded from a general liability policy, such as riot, terrorism, warfare, etc. This is a huge benefit for businesses that ship internationally.

What does it cover?

A Cargo/Freight insurance policy covers you, your business and your customers. Most carriers will only cover a set value, or a dollar amount per pound. This coverage will allow full value to be covered on all goods damaged. This gets you the full amount to be paid to you as well as secures the value you hold in your customers and their needs. Cargo Insurance policy usually pays regardless of which carrier is ultimately responsible for the loss.

When should I have this?

You should have a Cargo/Freight Policy anytime you are shipping products via land, air or water.