Freight Insurance
Definition

Freight insurance protects your freight from potential losses and destruction due to various circumstances. It also compensates a client when the ship-owner or freight company cannot complete his transportation contract for the carriage.

If you are looking to insure your cargo, here are a few preparation tips for your insurance policy and preparation:

Study the details of the insurance policy comprehensively. There are different insurance policies, each covering various materials, claims, damages, and deductibles. It is, therefore, essential to ensure that your company offers all the claims you need to protect your cargo. Please understand that there is no one-stop-shop insurance cover to cover your freight. This is because there are numerous features t and aspects involved in shipping insurance. It would be best to have an agent help you with due diligence, extensive research, and professional insights.

Provide efficient packaging on your cargo and especially fragile items to prevent accidents and damage. Sometimes, you might require extra packaging and layering for additional protection. It is unlikely that you will be compensated for freight damage and loss was not the carrier's fault. Remember to provide all the necessary information about your freight to save you time and money in case of damage.