Cargo transportation requires fulfilling several etiquettes particularly, in the matters of loss of transit goods. Generally, shipments are safe even though the possibilities of unexpected events, damages of transporting goods over long distances are looming around, irrespective of the modes of transportation. Indeed, any loss or damage to cargo can affect the reliability of a freight forwarder. Therefore, cargo insurance coverage is the only feasible solution. We cannot predict the likelihood of cargo damage, but it is better to prevent it rather than whining about the loss. Albeit, such incidents are rare but may happen quite often because, on the other side, damages can occur at any time.
Meaning and Purpose of Cargo Insurance
Under these circumstances, we cannot undermine the significance of cargo insurance coverage. The very purpose of cargo insurance is to cover the possible loss on the incidence of cargo damage. Also, help shippers receive compensation for the value of the cargo lost or damaged as per the invoice. In most cases, cargo insurance price covers transportation costs as well. If one cannot produce the invoice, the compensation amount depends on the market value. Cargo insurance coverage helps shippers recover the cost of goods damaged unexpectedly during their transit via air, ocean, or road. At the same time, it also safeguards against cargo theft that may occur during transit as theft also constitutes the loss of goods.
Should You Rely on the Cargo Transportation Insurance by Freight Forwarders
Most shippers are not aware of the significance of insuring cargo. When you consider the risks in the transportation of goods, there is nothing wrong in relying on cargo insurance coverage laid out with the knowledge regarding the significance and scope of insuring the entire consignment. The safe transit of goods reinstates the need for cargo insurance. Knowing the common risks related to cargo transport and why is it ideal to rely on freight forwarding and logistics companies offering cargo insurance keeps shippers concerns at bay.
You, as a shipper, is always accountable for covering the loss of goods due to theft, damage, or any other sort. Sometimes, the carrier company’s liability is limited. That said, in some cases, freight forwarders offer you cargo insurance coverage as they offer it as a premium service. The factors determining the amount covered include destination, the mode of transportation and nature and value of the goods. When freight providers offer cargo insurance, in the case of loss of goods, you get compensation as the insurance policy and, you do not need to prove that you have suffered damage or loss.
When you avail of the cargo insurance offered by your freight forwarder; they provide comprehensive coverage for loss during transportation. Further, many companies offer risk management solutions compliant with insurance regulations to enhance customer service and experience. Let us look at how cargo insurance coverage from shipping and freight solutions providers helps deal with any instance of loss or damage of goods in transit due to unforeseen circumstances.
1. Full Protection Against Losses
When you are a shipper, if freight forwarders offer you cargo insurance coverage, it brings many benefits to you because, in the first place, it provides comprehensive protection against any losses during the movement of cargo. It is hard to make claims on the losses during any mode of transportation. If there is a proper arrangement for cargo insurance in place, you can avert the chances of any conflict with the freight forwarding service. Having covered for any instances of loss or damage of goods provide unexplainable relief for shippers. Furthermore, it gives shippers to send goods without concerns over the loss of transit goods.
2. Personalised Solutions
Unlike in the past, cargo insurance coverage policies have changed a lot over the years. Now, you, shippers, can avail themselves of the services designed exclusively for transportation services. Many shipping and transportation companies offer groundbreaking services through advanced platforms for personalised solutions during the incidence of claims arising out of loss. Most freight forwarders have tie-ups with web-based platforms to provide you with instant quotes for a particular single shipment with the advantage of converting insurance cover purchases instantly to prevent delays experienced when done manually. During a claim, the freight forwarder arranges for compensation on behalf of a shipper from the insurance company. Such cargo insurance coverage also safeguards your business from legal actions or any further complexities in the event of a loss.
3. Flexibility in Insurance Policy
It does not mean that higher rates ensure ideal coverage. Knowing your freight solutions provider cares for your goods matters the most. A reliable shipping and freight forwarding company include flexible terms in their insurance policies as per your requirements with hardly any deductions in the amount paid. Some may provide total risk coverage against all types of physical damage of the transit goods. If freight forwarders offer you the advantages of cargo insurance coverage in the event of unexpected loss, they want to take the burden off your shoulders to keep your shipping concerns. Such freight forwarders value your goods and, they want your cargo to reach safely at the destination, irrespective of the modes of transport you prefer.
Cargo Insurance from Boorna Freight Solutions
Boorna.com, one of the most advanced platforms for booking loads, offering express transport, full truckload, less than truckload services, offers its clients €1 million worth of CMR Insurance for the safe upkeep of goods during their movement across everywhere. Providing customised risk management services for an everlasting relationship with clients, Boorna Freight accommodates their requirements. The land cargo insurance worth €1 million aims to avoid the common risks in shipping arising from the loss, theft or any damage occurring during the freight movement. Book your loads at Boorna and get extra peace of mind in all aspects of shipping!