If you are involved in the complicated business of international freight movement, you know it can be a risky proposition. The distance and logistics of overseas transport multiply the odds of sustaining a loss. The following are four reasons to consider cargo insurance programs that cover the entirety of your good’s journey.
1. Natural Disasters and Accidents
The world can be a dangerous place. Moving goods across sea and land comes with the chance of physical damages due to catastrophes such as storms or wrecks.
2. Theft and Mishandling
The longer the trip for your freight, the more hands will be involved in moving it. This situation increases the opportunities for careless handling to damage your cargo or thieves to steal it.
3. Inadequate Carrier Liability
Regulations require ships and other transporters to have liability coverage for the merchandise they carry. However, the limits are often the bare minimum amounts and rarely enough to cover your losses.
4. Gaps in Coverage
Many standard insurance policies do not cover goods during all phases of an international voyage. If an incident occurs during one of these unprotected portions of the trip, your insurance will not reimburse your losses.
Freight underwriting specialists provide cargo insurance programs to protect your merchandise from the start of the journey until its safe arrival at the final destination. Many times this comprehensive coverage can come with the added benefits of saving you money on premiums and greatly simplifying the claims process.