The shipping industry is full of risks and anyone who runs a business moving items from point A to point B knows that the best protection is often preparation. A cargo insurance policy is one of the best ways to ensure that your business has the coverage that it needs to stay functional no matter what situations arise.
Moving products comes with its own set of unique risks. Insurance underwriters create policies based on the particular situations that are faced by those involved in the shipping industry. Some of the risks that they take into consideration include:
- Rough handling
- Natural disasters
Cargo insurance is used by companies that ship by truck, air, sea, or rail and often include coverage for every step of the transit process.
Because the shipping industry is so varied, there are many different types of insurance programs available. Underwriters can customize a program depending on the specific needs of their clients and often include one or more of the following:
- High Value Cargo
- Stock Throughput
- Warehouse to Warehouse Coverage
- International and Domestic Coverage
Cargo insurance is an essential investment for anyone in the logistics industry. Coverage against damage or loss can be the difference between a growing business or one that flounders.