Cargo Insurance: Why You Need It
Cargo insurance, sometimes referred to as freight insurance, provides a cost effective way of covering your freight for physical loss or damage to goods in transit. It protects your shipments against all risks of physical loss or damage to freight from any external cause during shipping. All risk cargo insurance covers your shipment from door to door, regardless of whether it is being shipped by land, sea or air.
It is Gallagher Transport’s goal to provide you with the exceptional service when it comes to moving your freight. Our brokers and logistic coordinators can educate you on why cargo insurance is essential and provide you with a competitive and comprehensive cargo insurance rate.
Shipments in transit are subject to numerous risks that are beyond our control. Goods may be damaged in a storm or fire, stolen, involved in a collision or just mishandled and estimates of cargo theft in the United States range from $25-$50 billion annually.
Regulatory changes are happening and with that, the carrier’s liability is changing and their tariff will be upheld in the court system.
Benefits of Cargo Insurance
Should something unexpected happen to your cargo while in-transit, we want you to have the best protection available to help you recover after the loss. Because of our mass buying power and our strong relationship with our surety company we can provide you with cargo insurance coverage at a competitive rate.
Should a loss occur, it’s our responsibility to help coordinate a claim. The surety company must receive certain documents and photos in a very timely manner in order to process a cargo insurance claim. We can facilitate that process for you so that you are able to focus on your business. Our experienced insurance provider will act immediately on your cargo insurance claim and handle them quickly and professionally.
Another benefit of cargo insurance is that regulatory changes are happening and with that, the carrier’s liability is changing and their tariff will be upheld in the court system.
At Gallagher Transport we believe cargo insurance is an integral part of the importation process.
In order to protect your financial interests in your cargo, Gallagher offers “All-Risk” cargo insurance which is the most comprehensive plan available. With “All-Risk” goods are covered for loss or damage without the need to prove liability. An easy way to remember “All-Risk” coverage is “everything is covered, except what is excluded.” Typical exclusions include improper packing, inherent vice or rejection of goods by Customs.
If you are shipping Household Goods, Personal Effects, or Vehicles, “all risk” cargo insurance is only available if the container is professionally packed and loaded by a professional company (not the actual customer).
“All Risk” Cargo Insurance would cover the non-delivery of an entire shipment, including where theft was involved. Total loss of the entire shipment would also be covered if due to a collision, explosion or burning involving the ocean vessel.
Other eligible risks to cargo include:
- Damages from bad weather
- Seawater or freshwater flooding
- Improper stowage by the shipping company
- Mud and grease damage
- Fumigation services.
Questions about Cargo Insurance? Call Gallagher today!
In summary, cargo insurance provides a cost effective way of covering your freight for physical loss or damage to goods in transit. Let us put your mind at ease and make sure your cargo is protected. For more information on our cargo insurance program, please contact us on 303-365-1000.