Why choose us
We push the boundaries of what’s possible to fulfill your logistics needs with customized air-freight solutions. We are in touch with you 24/7, 365 days a year, and guide you through the entire delivery process from the pick-up location to your customer’s doorstep.
What is cargo insurance and when do you need it?
Cargo insurance is your shield against transit risks. It guards against transportation accidents, theft, and natural disasters, ensuring your cargo investments stay secure.
Cargo Insurance Types:
- All-Risk Cargo Insurance: Comprehensive, covers various risks, ideal for high-value cargo.
- Named Perils Insurance: Covers specific risks mentioned in the policy, making it cost-effective for less valuable cargo.
- General Average Insurance: Addresses losses resulting from deliberate sacrifices to save the ship or cargo.
- Warehouse-to-Warehouse Insurance: Protects cargo from origin to destination, ensuring continuous coverage.
Risks and measures
Risks are an integral part of cargo transportation. Ranging from natural disasters to human errors, they can be categorized into two groups: external and internal.
External risks encompass earthquakes, hurricanes, floods, and other acts of God, which can cause catastrophic damage to cargo.
Internal risks are linked to human factors such as improper handling, theft, and damage or loss during transit.
Mitigating the Risks
A thorough risk assessment is your first step towards identifying potential hazards specific to the cargo’s nature and the transit route. This assessment forms the foundation for tailoring insurance coverage to match the unique risk profile of each shipment. Additionally, adopting best practices in packaging and handling significantly reduces the likelihood of damage. Utilizing robust packaging materials and techniques in line with the cargo’s sensitivity ensures its integrity during transit. Furthermore, leveraging technological advancements like GPS tracking and real-time monitoring systems enhances the security and traceability of the cargo, providing an added layer of protection against potential risks.
Collaboration with reputable insurance providers is another vital measure. Choosing an insurer with a solid track record in cargo insurance ensures comprehensive coverage and guarantees expert support in the event of a claim. It’s essential to scrutinize the insurance policy meticulously, paying close attention to the inclusion and exclusion clauses, to understand the extent of coverage provided. This ensures that the policyholder is not caught off-guard by uncovered risks. Moreover, including clauses covering delays and consequential losses can safeguard against the ripple effects of unforeseen incidents.
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