Everyone needs liability insurance. This is especially true if you are a business that handles high-valued cargo and goods. Cargo liability insurance programs provide coverage for your cargo that might get damaged, lost or stolen during transport and help you manage the financial impact associated with it. Protecting goods from departure to delivery with the right insurance is a necessity.
Depending on your situation, you might need extra cargo liability insurance in addition to your standard cargo insurance. Your standard insurance policy usually provides limited liability coverage up to a specified dollar amount. In some cases, your shipment can have a higher value than what is covered under your standard policy. This is when you should consider purchasing additional liability insurance. Cargo liability insurance reimburses the sender, transporter, and receiver in case something happens to the goods during transport. Getting reimbursed for certain claims under a standard cargo insurance policy can be difficult as these usually come with exclusions and you might have to provide your insurer with more proof in order to get compensated for your loss.
If you don’t want your claim to get denied based on having only limited liability coverage, consider contacting a specialized insurance company that can help you get the right blend of coverage. Cargo liability insurance programs can help you maintain your composure when things go wrong.