As you well know being responsible for the goods of others can be rewarding when the job goes well, or a nightmare when unanticipated issues arise. Marine transporters are responsible for ensuring the safe arrival of goods that are transported in containers from one place to another via ships and other cargo vessels. Goods in transit, because of the nature of the waterways, are always at a high risk for accidents. Cargo may be lost at sea due to a major accident, improper loading, or unexpected weather conditions.
In addition it may get damaged while it is being offloaded at the port (in some instances damage is due to the use of big cranes). As a matter of principle, it is always advisable for the owners of these goods to buy marine cargo insurance whenever they have their goods transported over waterways, because of the risk involved.
Companies offering this type of coverage have varying types of insurance policies according to the specific need of the buyer. Various types of marine cargo insurance that are commonly available are:
- International and Domestic Cargo Coverage
- Warehousing and Storage
- Stock Throughput
- Expanded Warehouse to Warehouse Coverage
- On-Deck Coverage
- High Value Cargo, and
- Project Cargo, to name a few
Marine cargo insurance will generally cover the losses that occur when your company’s goods are transported via ships. If the cargo is subject to damages or becomes lost during transportation, the insurance will reimburse you according to the terms of the policy. The need for this important insurance will vary depending upon the country, region, type and even the size of the container in which the cargo is shipped.
Don’t under-insure your valuable freight or cargo. Speak to an agent and choose the right kind of marine cargo insurance policy according to your needs and protect those goods from any and all kinds of damage.