The Importance Of Cargo And Truck Insurance
Some of the ways goods can be damaged are through natural disasters, collisions, fires, mishandled, and storms. Cargo insurance covers rail, registered post parcel, courier, water, air means of transportation. Getting cargo insurance means that you will be protected from any financial loss as a result of storms, fires, mishandling or collisions.
Most companies cover themselves against financial loss by taking cargo insurance from when goods are being stored, in transit and until they reach the buyer.
In case of any losses, damages, and disputes that may arise shippers need to have proper documentation of all the cargo value. Shippers should go through their policies with insurance agents and lawyers to understand what extent their cargo is covered. Cargo insurance is available for domestic transportation and international transportation.
Types of cargo insurance include land cargo insurance and marine cargo insurance. Land cargo insurance covers land transportation for trucks and other vehicles. In this insurance the policy covers theft, any conditions that lead to damages, and other risks that are similar to these.
Marine cargo insurance is for transportation that is either by air or sea. In marine cargo insurance, the means of transportation and goods are covered from damage due to storage, weather conditions, pirates among other issues. The difference between land cargo insurance and marine cargo insurance is that land is domestic while marine cargo is international.
Marine cargo insurance is divided into specific cargo policies, contingency insurance policy and open cover cargo policies.
Specific cargo policy covers a specific consignment. When a company needs to ship many consignments they take an open cover cargo policy. Contingency insurance policies are taken by sellers in case customers refuse to accept goods due to damage.
Types of truck insurance coverage includes physical damage, property coverage, general liability, workers compensation, motor truck cargo, occupational accidents, contingent cargo, and primary liability. Truck insurance can cover for dump trucks, container haulers, straight trucks, tractors, car carrier operators, trailers, hotshot operators, local operations fleets, and agricultural haulers.
Programs available for truckers according to their different needs include large fleet insurance cover, flatbed truck insurance, hazmat truck insurance, agricultural truck insurance, car carrier insurance, small fleet insurance and container insurance. Insurance covers are flexible with different prices available for different programs that suit transporters and companies. In case one wants to look at their insurance certificates, they can find them online.