Insurance programs for freight liability are meant to ensure that shippers and carriers alike are covered in the event of lost or damaged goods in transit. Freight liability insurance for your company typically provides end-to-end coverage for every point of the supply chain. There is no single coverage that’s offered under the umbrella of freight liability, which makes it all the more important for the company seeking out coverage to understand exactly what is needed in order cover all the necessary bases. For instance, policies may range from “all risks” to “legal liability,” and there are so many points throughout the entirety of a shipment that certain points or terminals may not be listed under a specific coverage.
As is the case with any type of liability insurance, insurance programs for freight liability require knowledge of the specifics tied to the policy. Choosing the right amount of coverage is an important component in deciding what works for you and your company, as there is no catch-all insurance policy that will keep you safe at every turn. As is such, it’s crucial that your insurance agent be up to the task of providing all the information necessary in order for you to make the right decision. Take the time to go through all the proper steps to ensure you’re getting the best freight liability possible.