Reasons to Insure Cargo
“Insurance of cargo in transit is not compulsory in the UK – but most experts think it should be”
The greatest of care is taken in shipping customers’ cargo – but inevitably, from time to time, there is loss or damage during transit. There are many causes including:
•a major vessel or aircraft casualty or a road traffic accident
•simple accidents during handling, loading or unloading
•theft (regretfully, despite the best precautions, it does happen)
•mis-direction and subsequent loss
The liability of carriers engaged by us (whether by road, air, sea or rail) for loss of or damage to cargo is always limited in monetary terms by standard contract terms or by legislation and, in some cases, liability is excluded absolutely. It is also a fact of life that claims against carriers, no matter how small, are very time consuming and difficult. For this reason, it really is vital that cargo insurance is arranged to cover goods in transit. This is so important that in some countries it is compulsory by law for freight forwarders and logistics companies to arrange cargo insurance for customers unless the customer expressly forbids it in writing.
Cargo insurance is, quite simply, good business practice and yet, in excess of 60% of goods exported from or imported into the UK are uninsured. The financial and trading impact on companies of loss or damage to uninsured cargo can be devastating.
The cost of cargo insurance is very modest and we can arrange it for you simply and easily. For most cargoes the cover is “all risks” of physical loss or damage and is usually on a full “door to door” basis – even if we are not arranging the complete transit (for example even if we are only arranging the transport to port or airport in destination country).
Please contact us for a quotation.