Insurance in our country has not yet become a widespread practice. Many people hope that it will “blow over”, and this also applies to the trucking industry: cargo owners often refuse insurance in order to reduce costs, or mistakenly believe that the carrier's liability insurance policy fully covers their risks. Let's explore whether this is the case.
Why insure a shipment if the carrier has a liability policy?
Cargo owners often believe that since the carrier has liability insurance, they do not need additional insurance. It is important to realize that liability insurance and cargo insurance are different types of insurance. Liability insurance only covers damage caused by the fault of the carrier. In cases of accidents caused by the fault of a third party or force majeure (natural disasters, robbery), there is no compensation.
Consequences for the cargo owner:
- Legal costs and waste of time. If the unexpected happens to the cargo, you will have to assert your rights in court.
- Limited compensation. Carrier liability insurance has payment limits that may not cover the full value of the shipment.
- Stress and financial risk. Losses from unforeseen situations can turn into serious losses.
Full cargo insurance - a guarantee of safety
When cargo is fully insured, the policy covers all stages of transportation - from the transfer of goods to their delivery to the warehouse. This means that even in case of unforeseen accidents, the damage will be compensated.
Advantages of cargo insurance for the owner:
- Flexibility in policy selection. You can choose to cover all or only the most likely risks.
- Compensation for damage in accordance with the value of the cargo..
- Peace of mind and confidence in the safety of the cargo..
Cost of insurance policy
A cargo insurance policy usually costs 0.17-0.2% of the value of the cargo. At first glance, the amount may seem insignificant, but it provides complete peace of mind and a guarantee of compensation in case of unforeseen circumstances. The cost depends on the type of cargo, route, mode of transportation and conditions of transportation.
How to insure the cargo?
AT Grand Logistics Company , we offer our customers cargo insurance as an additional service. You can learn more about insurance options, cost and details by contacting our managers.
Why choose Grand Logistics Company?
We are experts with 17 years of experience in international transportation and provide a full range of services, including protection of your cargo. Our specialists will help you choose the best route, ensure compliance with the terms and conditions of delivery, as well as offer the most suitable insurance policy.
📞 Submit your transportation request now and find out how our team of professionals can help you safely and securely deliver your cargo anywhere in the world!
