What Is Available In Cargo And Truck Insurance
Some of the ways goods can be damaged are through natural disasters, collisions, fires, mishandled, and storms. Companies who use air courier, registered post parcel, or water means to transport their goods, use cargo insurance to cover their goods from any loss that may arise. Getting cargo insurance means that you will be protected from any financial loss as a result of storms, fires, mishandling or collisions.
Companies who take cargo insurance make sure that they are covered during storage, transit, and until goods reach to the buyer.
In case of any losses, damages, and disputes that may arise shippers need to have proper documentation of all the cargo value. Lawyers and insurance agents can help shippers understand their policies by explaining to them to what extent their cargo is covered by the policies. Cargo insurance is available for domestic transportation and international transportation.
Types of cargo insurance include land cargo insurance and marine cargo insurance. Companies who wish to transport their goods through land can take the land cargo insurance which covers trucks and utility vehicles. In this insurance the policy covers theft, any conditions that lead to damages, and other risks that are similar to these.
Marine cargo insurance is for transportation that is either by air or sea. When goods are covered from pirates, weather conditions cargo and loading as well as unloading and also covers goods and the means of transportation, it is called marine cargo insurance . In marine cargo insurance the cover if for international transportation while land cargo insurance is limited to the boundaries of a particular nation.
Marine cargo insurance is divided into specific cargo policies, contingency insurance policy and open cover cargo policies.
When a company wants to cover only one particular consignment they can get a specific cargo policy for their goods. When a company needs to ship many consignments they take an open cover cargo policy. Contingency insurance policies are taken by sellers in case customers refuse to accept goods due to damage.
Types of truck insurance coverage includes physical damage, property coverage, general liability, workers compensation, motor truck cargo, occupational accidents, contingent cargo, and primary liability. Truck insurance can cover for dump trucks, container haulers, straight trucks, tractors, car carrier operators, trailers, hotshot operators, local operations fleets, and agricultural haulers.
Programs available for truckers according to their different needs include large fleet insurance cover, flatbed truck insurance, hazmat truck insurance, agricultural truck insurance, car carrier insurance, small fleet insurance and container insurance. Transporters can choose from different price ranges for the covers they want to use. In case one wants to look at their insurance certificates, they can find them online.