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February 2018 – Cargo Insurance

News and Views for the clients of Universal Logistics

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What you need to know about cargo insurance

Protect your business interests by reading our exclusive six-part review of cargo insurance, an often misunderstood subject that can have a big impact on your business.

Collapsed container ship
Guess who pays for the freight shipments
lost or damaged in this marine accident? It is not the carrier.

What is Cargo Insurance?

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.

No purchase of cargo insurance
should be made until there is a full analysis of risks and costs.

Choosing the right cargo insurance policy for your business

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.

Cargo Theft
Purchasing cargo insurance
provides protection against losses
related to theft, an increasing problem
for shippers everywhere.

Five reasons why cargo insurance is a smart choice

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.

Crushed Box
Now what? Learn how to make a claim for freight damaged in transit.

How to make a claim for freight damage

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.

Learn more

Business man on phone
Timely reporting is vital when making
a cargo insurance claim.

Filing a cargo insurance claim

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.

Learn more

Frequently Asked Questions


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).

See more FAQs

February 2018
Cargo Insurance
All about Cargo Insurance
Soecial Edition

is produced monthly for the clients of Universal Logistics. Reader comment and story ideas are welcome. Comments of general interest to all Route readers will, with the permission of the writer, be published. Copyright ©
Universal Logistics Inc. All rights reserved. Reproduction for any commercial use is strictly prohibited.

Route is produced by Universal Logistics. Editor: Bettina Scharnberg. Email: While every effort has been made to ensure the accuracy of information contained herein, Universal Logistics accepts no responsibility or liability for errors or omissions. Written correspondence should be forwarded to:

Universal Logistics Inc.
125 Commerce Valley Drive West
Suite 750, Thornhill, Ontario L3T 7W4
Tel: 905-882-4880    Fax: 905-882-2250
Attention: Bettina Scharnberg
Universal Logistics

News and Views for the
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