Finding the Right Cargo Insurance
There are different types of Marine Cargo insurance and hundreds of cargo insurance providers. Choosing the right type of Transit insurance for your cargo depends upon the worth and sensitivity of your cargo. If your cargo is fragile, we recommend you find a good transport insurance to get an-all feature coverage. However, these decisions can be confusing. Working with a sourcing an experienced sourcing company like BlinkGlobal can lessen the confusion and help your get the right cargo insurance for you.
What is cargo insurance?
During national and international movement of goods with Cargo insurance, your cargo is always vulnerable to potential damages and losses that may occur due to
- Inappropriate packing
- Vessel Accidents that may occur due to Collison, Heavy weather, Sinking, Derailment
- Cargo abandonment
- Poor handling at Transits (may or may not be covered)
- Customs rejection (may or may not be covered)
- Improper storage in warehouses (may or may not be covered)
- Employee’s dishonesty (may or may not be covered)
- Non-delivery.
- Theft
- Fire
Transport insurance provides coverage against all external causes that may damage or cause losses to your cargo during shipping. It is similar to insuring your car. You get your car insured. It may not always get into an accident, but being a vehicle, it is prone to accidents all the time.
You can purchase these policies from the insurance market. If you have a sourcing company on board, they have partnered with various vendors that will provide you the best policy. Marine insurance is generally covered under risk policy or floating policies.
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