No one is insured from various risks during cargo transportation. In such cases, the carrier's liability for the damage to the cargo is sometimes insufficient to compensate for the full value of the cargo.
When performing international and domestic cargo transportation, it is possible to take into account that cargo insurance is the most convenient way to protect yourself from risks and their undesirable consequences.
When performing international and domestic cargo transportation, it is important to take into account that cargo insurance is the most convenient way to protect yourself from risks and their undesirable consequences.
Cargo insurance protects the customer from financial losses due to damaged or lost cargo, compensating the customer's financial loss due to accidental events.
There are many risky events that require cargo insurance, such as cargo damage, theft, cargo loss, refusal at customs, piracy, etc.
Cargo insurance is also preferable even when it is not required by law. Let’s understand why. First of all the cargo is at great risk, because it moves from one hand to another, sometimes being accompanied by ports. External factors such as unfavorable weather conditions and traffic disruptions may also occur during cargo transportation.
Risks can occur in all types of cargo transportation: land, sea, air. Therefore, cargo insurance is good to be done for all types of cargo transportation.
In case of land cargo transportation, cargo insurance can be not only for international but also for local transportation. Theft and loss of cargo are the risks inherent to land transportation ․ The customer solves these possible problems with cargo insurance.
Cargo insurance for sea and air cargo is mainly used for international cargo transportation. It includes financial compensation for damages caused by handling, piracy, weather conditions and other risky factors.
In which cases the insurance company will not compensate for the damage?
· Cargo insurance does not "cover" the risks and issues over which the carrier has a control.
· Damage to the cargo due to insufficient packaging will not be compensated.
· Insurance companies will not compensate the damages caused due to defective products.
It is important to remember that cargo insurance companies do not insure hazardous products or, for example, certain electronic products, that are very valuable or fragile.
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