Every working day, millions of freight shipments are completed without incident. But this still means there are hundreds or even thousands of freight shipments that do not go as planned. Some are damaged. Some are stolen. Some are lost entirely as a result of a catastrophic event (sinking, piracy, storm).
Learn more by reading about the consequences of a lost shipment for two shippers – one with cargo insurance, one without.
The right cargo insurance for one company can be entirely wrong for another. It all depends on what is being shipped, where it is going and how much risk the shipper is prepared to accept.
Learn more by reading about the policies and options available for buyers of cargo insurance.
Think you don't need cargo insurance? Think again. Investing in cargo insurance is a small price to pay for the peace of mind that comes with knowing you are entitled to compensation if your freight is lost, damaged or stolen.
Learn more by reviewing the five key reasons why anyone who imports or exports freight should have cargo insurance.
Your shipment has arrived at your facility in damaged condition... does your warehouse know what your responsibilities are in regards to an insurance claim? To protect your interests, it is important to document and report any freight damage.
The timing and compensation for a cargo insurance claim depend on the mode of transportation. It is important that you file your claim within the prescribed time limit for each mode.
What is Marine Cargo Insurance?
Insurance purchased to protect the buyer when cargo is lost or damaged, including any amounts paid in freight or any blame to a third party occurring during a sea voyage or air transit. A marine insurance contract may be extended to cover losses on inland transport (inland water, rail, road).
In Depth Topics
Tip #21 – Timing is everything with your international trading partners
Remember to take into account time zones when you are communicating with your international trading partners.
