Freight transportation creates a complicated web of responsibility when it comes to assigning responsibility for damaged or missing goods. Recipients might file claims against any or all of the entities involved in the damaged product’s transportation. Freight liability insurance provides critical coverage for businesses that risk financial losses over missing or damaged cargo.
Understanding Your Liability
If a recipient files a claim against your company, evidence of damage may not be sufficient for them to collect compensation. There must be documentation reflecting the condition of the freight at each point in the shipping and delivery process. If you can prove that the freight was in good condition in your care, you may not be held responsible for the damages or loss. You may also be protected from liability if the recipient fails to document the damage upon delivery. Some claims may also be time-barred. Petitioners must also file their claims within specified time periods to collect compensation.
Securing Adequate Coverage
Your freight liability insurance needs depend on your business’s role in the shipping process. That is why working with an experienced insurance underwriter is essential. The underwriter should be highly knowledgeable about the liability needs of your profession. Carrying the right level of coverage will guard against financial losses in the event of a loss.
Please follow and like us:
Shipping goods is fraught with risks. It’s not only your company that is responsible for the care of your merchandise. The intermediaries involved must provide indemnification when they are negligent. Freight insurance is just one aspect of transportation legal liability coverage that your business should be aware of. There are many different options to accommodate your cargo and risks.
Check out these forms of insurance:
- Bill of Lading Legal Liability
- Motor Truck Cargo Legal Liability Insurance
- Warehouse Legal Liability Insurance
- Bailee Liability Insurance
- Packers’ Legal Liability Insurance
No matter which part of the process your company handles in shipping goods, we have the freight insurance that covers your needs. We offer coverage for high-value and oversize cargo, shipments to high-risk destinations and cargo that will be short- or long-term staged. We know the challenges associated with all types of shipments.
Our underwriters will help you find the right insurance coverage to manage your risks. Insure your goods for transit, whether it’s via ocean, air, rail or truck. Don’t worry about loss and damage that happens during shipping. Get peace of mind from natural disasters, collisions, non-delivery and rough handling when you have the policy that fits into your business model and protects the shipment while it’s on its way to its destination.
Please follow and like us: