What are the benefits of cargo insurance?

Cargo insurance reduces financial loss regardless of whether your goods get damaged or not. Some of the common benefits include:

• All risk coverage – Cargo insurance protects against the significant loss or damage caused by external factors such as theft, vermin or damage by improper handling.
• General coverage – This is the standard insurance policy for maritime shipments covering partial losses to the policyholder.
• Warehouse-to-warehouse coverage – As the term signifies, it protects against loss or damages caused while your cargo is being transported to and from warehouses.
• Peace-of-mind – Securing your investment gives you a sense of peace, which means you can sit back and relax knowing your cargo is safe.

Cargo insurance protects you from financial loss due to damaged or lost cargo. It pays you the amount you’re insured for if a covered event happens to your freight. And these covered events are usually natural disasters, vehicle accidents, cargo abandonment, customs rejection, acts of war, and piracy.