Logistic service providers and those companies with a global supply chain might have a problem when it comes to choosing the right insurance plans. The risks they take are unique meaning there aren’t a lot of standard plans out there for goods in transit insurance. However, there are a number of insurance solutions that you may want to know about if you provide one of these services.
Companies that ship cargo overseas may want to consider one of two types of insurance. Intermediaries who are responsible for cargo but don’t directly own it, such as warehouse operators or freight forwarders, may want to consider a liability insurance plan. This type of insurance can protect them in the event the cargo in their care is lost or damages. If you’re looking to cover the goods themselves, you may want to consider a form marine insurance which can cover various types of loss or damage to the goods in question.
Other types of goods in transit insurance you may want to consider include project policies. These can cover instances of the shipment of an over-sized cargo, or one of high value. Warehouse liability can cover those responsible for storing cargo. Some plans come with several types of insurance together to cover the transit process from start to finish. With this knowledge, you can choose the right plan for you.