All Forwarding companies must assume some liability for the transported items. Insurance is always a complicated topic, but it’s important to understand the coverage you have during your transit. It’s not fun to find out your items are not fully covered after they are damaged. It’s the same as closing the barn door after the horses have already bolted!
It would be nice if nothing was ever damaged during a transit, but that is unrealistic.
Even the most careful and professional Forwarding companies cannot prevent damage in all cases. For example, a highway accident causes damage to truck contents
Are You Adequately Covered?
The tariff levels of liability come in two different versions. The first version is the full replacement value protection and is the most expensive. This is exactly what it sounds like.
Confusion is Not an Option!
Confused? If you are, you’re not alone. The bottom line is that you can choose between cargo coverage levels and then add private insurance coverage if you choose. The mandated coverage is required to be carried by the Forwarding Company. When you are choosing a Forwarding company, it’s important to make sure it has the liability coverage required by law.
Forwarding is a major event in anyone’s life. The last thing you want is to let someone take responsibility for your possessions without having proper liability or insurance coverage. Anything can happen while cargo is being loaded, transported and unloaded.
It’s simply a high risk business.
Having the right amount of liability coverage can give you the peace of mind you need during a transit.
Takis Kalogerakos
Marine Underwriter
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