Protect Your Goods Every Step of the Journey
Cargo is frequently lost, stolen or damaged in transit, so it is important to have the appropriate insurance in place if you have valuable goods in transit.
Transit/marine cargo insurance protects you against damage to or loss of cargo as it travels from one destination to another. While many freight companies offer insurance that covers some of the cost should something go wrong, most of the time their liability is limited and you will receive lower payment than the value of what you have lost.
Case Study: Spoilt food
Kerri runs a small business that exports organic cheeses from Australia to
Asia. It’s a new business, so she works very hard to provide quality products
and build her client base.
Recently, a shipment of her cheeses that were going to a new client was left
on the dock unrefrigerated due to failure of the cold storage area in the
dock – and the cheeses were spoilt. Not only did Kerri lose valuable product,
but she also missed out on the repeat business of the new client.
Thankfully, Kerri had marine transit insurance, which covered her products
from the time they left her business until they were in her client’s
possession. While her insurance didn’t help her keep the new client, at least
the insurance reimbursed Kerri for the cost of the cheeses that were spoilt.