Freight liability insurance — also known as cargo insurance — safeguards your items against risk of loss or damage during shipment. This protection typically covers harm that can occur due to problematic weather or natural phenomena (commonly referred to as “acts of God”), riots or other civil unrest, theft, moisture getting inside containers, and equipment used to move your cargo. This insurance protects you against risk whether you transport your freight domestically or internationally via ship, truck, train, or air.
Insurance plans are available at a variety of levels to meet the needs of your business, whether you conduct wide-scale operations over large areas or small local transports. By insuring your cargo, you eliminate the hassle of dealing with liability claims; typically, the insurer will handle these claims directly. And if you are offering transport services for third-party cargo, having freight liability insurance provides an additional incentive for your clients to choose you as their carrier of choice. This may allow your business to expand with confidence.
When your cargo is valued higher than what most liability plans cover, insurance further lowers risk by protecting items at full declared value. This can be a cost-effective way to address many issues that are on the rise, including cargo theft and container loss, without harming your business or reputation.