Understanding the Options for Cargo Insurance

cargo insurance programs

Whether your company is a logistics service provider or relies on a global supply chain, you need to make sure you have the right kind of insurance coverage. There are several types of cargo insurance programs, and the best way to find the right one is to talk with an insurance expert. Here are some types of cargo liability protection that may be right for your business.

Coverage Against Damage and Loss

If you transport goods over land, air, or water, you should make sure your insurance protects you against loss or damage during shipment. Policies may protect against theft, collision, overturn, rough handling, non-delivery, natural disasters, and other situations. Some kinds of cargo insurance are:

  • Worldwide marine cargo insurance
  • Project cargo coverage against transportation risks for high-value and oversize items
  • Stock Throughput continuous global coverage

Liability Protection

Liability protection may be required for warehouse operators, property brokers, transportation providers, and similar companies. This sort of insurance protects you against loss and liability while goods are in your custody or control. Some example policies include:

  • Bill of Lading Legal Liability
  • Warehouse/Bailee Legal Liability
  • Motor Truck Cargo coverage
  • Packers’ Legal Liability
  • Contingent Motor Cargo Liability
  • FDA re-inspection fee coverage

The right cargo insurance programs can protect your business against property loss or damage from a variety of causes, including theft and natural disasters. Contact an insurance expert to discuss the available options and get started creating a customized policy.