The cargo and transport industry is a unique and complex sector, and the risks associated with having goods in transit, whether it be by road, air, rail, or road, requires specialist knowledge and cover. Having the right insurance policy in place can help to target these risks and offer essential protection for businesses engaged in importing, exporting, distribution, or domestic transportation.
Some of the risks the cargo and transportation industry faces include:
- Financial loss associated with the loss of goods
- The risks associated with General Average (a Marine Principal that dictates that loss or damage to a ship or its cargo is shared among the Shipowners and Cargo owners)
- Acts of Piracy, theft and pilferage
- Malicious damage by Masters, officers or Crew of a vessel
- The risks associated with Transhipment risks (the moving of goods from one conveyance to another).
Insurance Considerations for the Cargo & Transport Industry
Cargo Insurance is essential for businesses in the Cargo and Transport industry to help protect goods during transit from risks like damage, loss, theft, or accidents. It provides a financial safety net, minimising losses and ensuring peace of mind, timely delivery and minimal disruptions for customers.
Coverfreight is an innovative, market-leading Cargo Insurance solution founded by Coverforce 3LP's Steve Mahaffey, who has over 27 years of experience in Cargo Insurance.
This specialty product is designed to safeguard various types of freight, including shipments by sea, air, road, rail, and post, and offers comprehensive protection to meet the diverse requirements of businesses across the transportation industry.
To find out more about what cover is offered and how you can obtain an instant quote online 24/7, please visit our Coverfreight website.
Visit Coverfreight Website
