Tips for Insuring Your Cargo

Moving cargo from one place to another always comes with a risk. Cargo could get damaged, lost or stolen, and sometimes whole shipments don’t make it to their final destination. The good news is that cargo insurance can reduce the financial risk involved with transporting goods.

In order to ensure smooth movement of cargo, consider choosing a U.S. based insurance company to get the best support. If you ship internationally, you might already be aware that sometimes business partners use an insurance company in their own country. It is recommended that you insure your cargo anyway as it can be troublesome having to deal with an insurer located in a different country. Always handle your own responsibility and don’t rely on someone else. Furthermore, make sure you document every shipment and its value in case there’s a dispute with a claim in the future. Be sure to check with your insurance company what modes of transportation and factors are covered. While most policies cover the standard risks, some don’t cover loss resulting from war or piracy. If in doubt and for the sake of peace of mind, consider an “all risk” policy. A company specializing in insurance solutions for unique risks can help you get the coverage you need.

The consequences of not having cargo insurance could be devastating for your company. Having an adequate insurance policy ensures that your business can keep moving.