At InstaCarrier, we understand that your cargo is more than just goods; it’s often the lifeblood of your business. That’s why we offer comprehensive cargo insurance to protect your shipments from unforeseen events. In fact, recent research shows that cargo damage and loss significantly increase financial burdens on businesses, driving up insurance premiums and operating costs. According to SwissRe, a well-known reinsurance provider, natural disasters cost the world economy USD 190 billion in 2020.
What is Covered by Cargo Insurance?
Cargo insurance provides coverage for a wide range of risks that may occur during the transportation process. Here’s a breakdown of what’s included:
- Loss and Damage: Your goods are protected against loss or damage caused by accidents, fires, explosions, natural disasters, and other unforeseen events. As containerized shipping now handles over 90% of global trade, climate extremes and increasing cargo vulnerability during storage have made such coverage even more critical.
- Storage Coverage: Your cargo is covered for up to 30 days while in storage during the transportation process. Prolonged storage caused by port congestion or customs delays can expose goods to theft, spoilage, and demurrage fees—risks increasingly noted in industry reports.
- Emergency Situations: We’ve got you covered in case of emergency landings or unloading due to unforeseen circumstances.
- Additional Coverage: Depending on your specific needs, we can offer insurance for robbery, theft, and malicious damage. Please note that this coverage may not be available for unpacked, used, or damaged goods.
- Related Costs: Our insurance also covers general average contributions, expenses incurred to prevent or reduce losses, and costs associated with loss assessment.
What Can Be Insured?
To ensure maximum protection, cargo insurance covers:
- Goods: Any commercial item in which you have a legal interest and bear the risk of loss or damage.
- Freight Costs: Costs associated with transporting your goods.
- Delivery Costs: Expenses incurred at the delivery location, including customs duties.
- Potential Profit: Up to 10% of the goods’ value (including freight and customs duties) can be insured if the policyholder is the buyer and bears the transport risk.
- Additional Items: We can customise your insurance policy to cover other specific items upon request.
Your Peace of Mind is Our Priority
At InstaCarrier, we are committed to providing you with the highest level of protection for your shipments. Our cargo insurance is designed to give you peace of mind, knowing that your goods are safeguarded throughout the entire transportation process.
Contact us today to learn more about our cargo insurance options and to get a quote tailored to your specific needs.
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