Freight Insurance for Beginners

Freight insurance is an important factor to consider when shipping cargo from one point to another. This type of insurance is offered by a number of insurance companies and even by some of the freighting companies. Essentially, freight insurance is coverage that is purchased to ensure that the goods to be transported reach their destination safe and intact. By purchasing this kind of freight insurance coverage, the shipper is ensuring the safe transport of goods, which is very important when the goods being shipped are extremely valuable or one of a kind.

Freight insurance is a necessary safeguard against the loss of one’s shipment as it is possible that the goods can get damaged or even lost during transport. Damage of any or all of the items during transit can cost the exporter a great deal of money from his own expenses, since most shipping companies or freight agents will not take up liability for the damages incurred. Sometimes, such an event could cost the shipper the entire freighting contact affecting the business.

However, when freight insurance has been purchased to cover the goods in a shipment, traders will be able to reclaim the value of the damage; in the case of theft or loss, the insurer will return the whole amount of the policy to the exporter.

Freight insurance can even be purchased to cover delays in shipping, damages to the goods, theft, misplacement and other common problems that shippers face. Typically, most freighting agents will be able to provide you with information on purchasing freight insurance and the different types of policies available.

The value of the freight insurance depends on the kind of cover that is required. For most consignments, this insurance is a one time payment that the shipper provides and the insurance agency will then insure the goods for the duration of the transportation, generally from point to point. Interested also in Travel insurance deals?

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SJ International Freight Services Limited, UK have head offices in Bristol, UK and Cardiff, South Wales.

Tel: +44 (0)117 932 1160
Fax: +44 (0)117 932 6572
Email: Bob.Feltham@rsj-international.co.uk~
or Steve.Frost@rsj-international.co.uk

Unit 16, Keynsham Road, Willsbridge, Bristol, UK.