If your business distributes products through a large supply chain, you must rely on shipping companies to safely handle and transport your goods. You may also rely on your carrier’s liability insurance to cover any costs resulting from damages to the cargo or loss of a shipment. However, carrier liability insurance will not always apply to your losses. Educating yourself about cargo insurance online or talking to a logistics provider about liability policies can save you unexpected costs.
Facts About Carrier Liability Insurance
Damage or loss of a large shipment can happen for many reasons. Carrier liability insurance coverage is applicable in cases of carrier negligence, such as accidents, non-delivery or improper handling of the goods in the shipment. However, loss that is out of the carrier’s control will not be covered by your carrier’s liability plan. Extreme weather conditions such as hail can damage cargo, and floods or fire may destroy an entire shipment. These losses are not reimbursed through a carrier’s liability policy as they do not result from the shipping company’s negligence.
Coverage for All Risks
Carrier liability insurance may not be enough to cover your cargo, but the right shipper’s interest insurance plan can still keep you from losing all of its value. You can find insurance that keeps unexpected costs to a minimum when your goods are damaged or lost. Logistics providers specialize in guiding cargo owners through shipping risks and shipper’s interest policies. You can learn more by searching for information about cargo insurance online and discussing your coverage needs with a logistics provider.