If you are fond of using the services of freight trucking companies, but you never insure your cargo, then your last shipment should be the last without insurance. There are numerous reasons why you should always insure your cargo and here is a brief look at some of them:
Reduce exposure to financial losses
There is no denying that lost, stolen or damaged goods during shipping will imply that you will have to go deep into your pockets to cover the losses, damages or theft. With cargo insurance, this is a headache you can conveniently avoid, and whether you are shipping your own goods or those for clients, you won’t have to worry about such losses.
Cover for limited carrier liability
If you are not aware, the carriers will never be liable for most of the common losses or damages when the goods are in transit, and this means that you will be on your own should something go wrong with the shipment. And, even if they were to be liable, their liability will be very limited, and this could either be through law or bill of landing. If you are expecting to recover anything from the freight trucking companies, it will be nothing but cents on the dollar.
Gain more control over the terms of insurance
It may be viable to rely on the seller’s or buyer’s insurance, but it is important to have the satisfaction that the insurance purchased and the insuring terms of each insurer for each shipment are sufficient to meet your own needs. And should there be a claim involving a foreign company, it will not just be time consuming, but also very frustrating, with no guarantees of getting compensated.