Although many commercial business insurance policies are standard, cargo insurance is one exception. There are many complexities when purchasing a policy to manage your risk of getting your goods from point A to point B. Shipping within one country is difficult enough, but when you add international waters that limit the liability of the carrier, it can get very difficult to make sure that your cargo is protected from the risks it faces. You need to make sure that you have marine cargo insurance brokers that specialize in underwriting policies for your business.
Knowing the ins and outs of your policy is paramount to your peace of mind. Always ask questions about your insurance so that you understand the limitations of your coverage. You have to disclose the information about your shipment to the insurance company. If you are dishonest in your disclosure, it could void the policy.
Global shipping is a massive industry. Your shipment is just one of more than five or six million containers on the waterways at any given time. The marine cargo insurance brokers who know the industry will help you manage your risks while controlling your costs. Your product faces many different issues when it’s on the ocean, but you can be assured that your cargo is well-protected. Get the right insurance that meets your needs when you work with a specialty insurance agency.