Cargo Insurance
Protect Your Cargo from Warehouse to Destination
Risk is part of doing business – but cargo insurance helps you minimize that risk and keep the flow of goods moving. In a global economy, any company shipping by land, sea, or air needs to protect its cargo in transit to stay competitive.
Freight carriers such as ocean shipping lines, airlines, and inland transportation companies are legally required to carry a minimum amount of insurance. However, this “carrier liability” provides limited coverage and is not designed to fully protect the value of your goods.
Because cargo losses are relatively rare, it may be tempting to skip cargo insurance. But in case of a loss, the cost can be very high and may impact your ability to fulfill orders, maintain cash flow, and serve your customers.
Freight is more susceptible to damage than smaller parcel shipments, and the values involved are often much higher. Additional insurance can be purchased to cover your goods at a level that goes beyond basic carrier liability and aligns with your true exposure.
Additional cargo insurance
You can purchase cargo insurance from a variety of third-party companies that offer coverage exceeding carrier liability limits. This can help protect your balance sheet and give you peace of mind whenever you ship.
- Coverage for land, sea, and air shipments.
- Options tailored to shipment value and risk profile.
- Support for multi-leg and multimodal shipments.
- More comprehensive protection than carrier liability alone.
Tailored terms to fit your supply chain
We understand the issues that impact your business, including just-in-time delivery, supply chain complexities, and business interruption exposures.
Our cargo insurance solutions can be tailored to cover:
- Standard shipments and project cargo.
- Exhibitions and trade shows.
- Product installation and sales samples.
- Storage at specified locations.
- Marine business interruption exposures.
In the event of visible or hidden damage, quick and proper action is critical for a successful claim. Follow these steps when receiving your freight:
Checklist at delivery
- Inspect your shipment at delivery together with the driver. Note any visible losses or damages on the delivery receipt.
- Do not refuse the shipment unless the damage has rendered your freight completely worthless.
- As soon as possible, unpack and inspect the contents for hidden damage.
- Contact your freight carrier and freight insurance company immediately if you find any losses or damages.
Remember: carrier liability and freight insurance only cover damage or loss to the goods themselves – not lost time, labor, or shipping costs.
