In the shipping business, there are too many things that could go wrong on any given day. Contingent cargo insurance protects you every step of the way. However, this type of insurance isn’t for everyone. When you’re thinking about what type of coverage you need, there are a few deciding factors that tend to tip the scales towards a comprehensive cargo insurance plan.
You might want to talk to an insurance agent about contingent cargo policies if your enterprise deals with any number of shipping activities. Here are some examples:
- Shipping locally or globally
- Carrying valuable cargo
- Short- or long-term storage
- Ensuring inventory levels
Any one of these businesses might require multiple insurance policies to cover all of the relevant risks. If your business works with more than one aspect of the shipping or logistics industries, then getting a special policy might simplify matters considerably.
Contingent cargo insurance that covers multiple aspects of the shipping process under one policy has the potential to be advantageous in a number of ways. First, you might save money by packaging coverage into one policy. Second, you could include special coverage, such as shipper’s interest policies that cover cargo owner’s losses regardless of where the responsibility lies. Finally, having an overhead view and summary could help make sure you have precisely the coverage you need.