Cargo insurance is essential for businesses involved in transporting goods. Below are frequently asked questions:
What does cargo insurance cover? Cargo insurance typically covers physical loss or damage to goods during transit, whether by land, sea, or air. Coverage can include theft, accidents, natural disasters, and mishandling during transit.
What types of cargo can be insured? Almost any type of cargo can be insured, including perishable goods, electronics, machinery, and hazardous materials. However, some policies may have exclusions, so it’s important to check the details.
Do I need cargo insurance if the carrier already has coverage? Yes, because the carrier’s insurance may not cover the full value of your goods. Cargo insurance provides additional protection to ensure your assets are fully covered.