Cargo Insurance Quote Forms
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Cargo Insurance Information
Companies that transport products depend on cargo insurance policies to help protect the organization from financial harm when cargo is damaged or lost.
Contact JM Hamilton & Associates in Charlotte, North Carolina, to get a personalized quote for cargo insurance from a reputable insurance provider.
What Is Cargo Insurance?
Businesses that rely on shipping to move their products understand that when cargo is out of the organization’s control, many unforeseen events can cause damage or loss of the cargo. Cargo insurance helps provide crucial protection for companies that depend on the supply chain to deliver products safely.
Is Cargo Insurance a Requirement?
Cargo insurance may be required by the Federal Motor Carrier Safety Administration (FMCSA). Each type of motor carrier has different minimum levels of financial responsibility requirements.
Talk with your agent to determine whether you must purchase motor cargo insurance coverage.
What Does Cargo Insurance Cover?
Motor cargo insurance may help cover a motor carrier’s liability for stolen, damaged or lost shipments while in transit by land, sea or air. If a covered event occurs while the insured cargo is in transit, the insurer may reimburse the insured party for the designated value of the goods.
Covered events may include cargo abandonment, acts of war, vehicle accidents, natural disasters, or customs rejection. Your agent can help you understand the specific coverages offered by your insurer.
What are Types of Cargo Insurance?
Depending on the insurer, a business may be able to choose from three main types of cargo insurance:
- Road or surface transportation insurance
- Marine cargo insurance
- Air transport insurance
Cargo insurance policies may also be inclusive of various transportation methods. Your agent can recommend appropriate coverage for the transportation methods used by your organization.
You have two main options for cargo insurance. Your agent may recommend that you purchase one of the following:
- All risk cargo insurance policies provide broad coverage for risks other than those specifically excluded by the insurer.
- Named peril cargo insurance policies are more restrictive and provide coverage for only perils named in the policy.
Some cargo insurance policies also include geographical restrictions, so work with your agent to determine which coverage is most appropriate for your company’s needs.
Contact Us
Contact JM Hamilton & Associates today to learn more about how cargo insurance can help cover your company’s goods while they are in transit.