What Is Available In Cargo And Truck Insurance
Some of the ways goods can be damaged are through natural disasters, collisions, fires, mishandled, and storms. Companies who use air courier, registered post parcel, or water means to transport their goods, use cargo insurance to cover their goods from any loss that may arise. 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.
Cargo value should be documented by all shippers in case there are losses, damages, and disputes that arise later on. Shippers should go through their policies with insurance agents and lawyers to understand what extent their cargo is covered. Insurance companies offer international transportation cover or domestic transportation cover.
Marine cargo insurance and land cargo insurance are the two types of cargo insurance that are available for shippers. Land cargo insurance covers land transportation for trucks and other vehicles. Land cargo insurance covers against damages that are caused by any collision, theft and other risks that can damage cargo in the boundaries of a nation.
Shippers who intend to use sea or air transport should consider taking marine cargo insurance. When a shipper uses marine cargo insurance, it means that goods and means of transportation are protected because insurance covers them from weather conditions, pirates, unloading, and loading of cargo. In marine cargo insurance the cover if for international transportation while land cargo insurance is limited to the boundaries of a particular nation.
Company owners who want to enjoy using marine cargo insurance may be given three options that are specific cargo policies, contingency insurance policy, and open cover policies.
In some cases, a company may want to ship only one particular consignment and they can cover this using a specific cargo policy. 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.
Truckers can pick any of the following programs for their covers: large fleet insurance cover, flatbed truck insurance, hazmat truck insurance, agricultural truck insurance, car carrier insurance, small fleet insurance and container insurance. Transporters can choose from different price ranges for the covers they want to use. In case one wants to look at their insurance certificates, they can find them online.