Cargo insurance gives you the certainty that, if something should go wrong in transit, you will receive compensation of the value based on the commercial invoice. If there is no commercial invoice, the market value will be used to determine the amount. Transport costs will also be reimbursed.
Insurance that generally protects shipments from loss, damage, or theft while in transit. This coverage is beyond basic claims insurance that may be provided, and it will reimburse for the designated value of the goods if a covered event occurs while the freight is in transit.
Carriers and forwarders only have limited liability. If an unfortunate incident occurs, you may be faced with a long list of terms and conditions that are difficult for non-specialists to understand.
That’s why it helps to know the general principles, what the most common risks associated with goods transport are, and when it makes sense to arrange for cargo insurance.
