If your business ships goods, a comprehensive contingent cargo liability insurance policy can be a vital part of your company’s financial future. If something happens to your goods during transportation, your policy can cover your business’ losses. Specialized insurance brokers can find or create a plan that gives you the coverage you need.
A comprehensive contingent cargo liability insurance policy can cover many transit risks that could damage your cargo. These risks may include rough handling of the packages, a wreck involving the vehicle with your cargo, theft, and more. Your policy may also pay for damage caused by natural disasters or even jettisoning, which occurs when a flight tosses cargo to lighten the load.
No matter which way you transport your cargo, you can find a policy to protect it. Your broker should customize a plan to cover goods you move via plane, train, truck, or boat. In fact, you can protect your items as they await shipment in your warehouse as well. If the storage unit catches fire, gets robbed, or is the victim of some other disaster, you can recover the financial loss from the destroyed goods.
Whereas governments heavily regulate other types of insurance, cargo liability policies can vary widely. Be sure to check your particular policy to see if it meets your needs.