How Cargo Insurance Prepares You for the Unexpected
Though you try to prepare for everything, sometimes unexpected events occur. To fully protect your business assets while they are in transit, you need a contingent cargo insurance policy that covers all your costs. Here are a few ways contingent cargo liability insurance keeps you protected.
Usually, you can’t delay shipment when bad weather looms, but the risk of shipping goods during poor conditions is high. Natural disasters can wipe out your entire supply and finished goods shipments, but your insurance can help pick up the associated costs.
Collisions, rough handling and breakage during shipment are risks for any transportation type. Contingent cargo insurance keeps your assets financially protected when things go wrong and your goods are mishandled.
General average is when all businesses that ship goods upon a cargo vessel take partial responsibility for the cost of goods sacrificed to secure the safety of the vessel and all who are on it. For example, if the crew throws goods overboard to lighten the vessel in an emergency, all businesses share the financial burden of the loss. This means that you could be held liable for the cost of other businesses’ goods.
Ready to Get Covered?
Call your contingent cargo liability insurance provider to discuss your options. Select a plan that covers all your assets and prepares you for the unexpected.