Probably, you have already heard about cargo insurance, but perhaps you are not aware of the real value of contracting this type of cover. Let’s imagine that you are a seller and need to transport certain cargo in a neighboring town. Or else you are the buyer of that merchandise and are awaiting its delivery. A variety of unforeseen events can occur during transit.
A road accident, flood, theft or any other event can affect the cargo, and the resulting damage can prevent it from being delivered in perfect condition.
Obviously, nobody wants this type of event to occur, right? However, it is necessary to be prepared for any type of situation, to avoid losses.
Cargo insurance is placed by the owner of the cargo (shipper). It covers practically all the major risks related to the cargo, such as:
- Damage caused by accidents involving the transporting vehicle;
- Losses arising from the transport operation;
- Robbery and theft.
How does this insurance operate?
You contract the type of cargo insurance that best suits your merchandise, and receive a policy that ensures compliance with the terms agreed between the parties (the insured and the insurer).
Various factors should be taken into account when choosing the type of insurance. It will depend on who purchases the insurance, whether it is a recurring shipment or a one-off shipment (one shipment only), whether shipment is domestic or international, the type of damage covered, and a series of other aspects will define the most appropriate insurance for each situation.
Do you need cargo insurance for yesterday? Count on our solutions. CredRisk Marine has the expertise required to serve your company, and to offer you the best protection in the event of a loss.
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