If your goods or cargostock move from point A to point B and make stops in between, you need to ensure your products or raw materials are properly insured. Continue reading to find out more about this topic.
What Is The Difference in Coverage?
When insuring your items during transit, you need coverage that doesn’t have gaps. Standard insurance will not cover damage or loss from natural or weather events. There are two types of coverage:
- All-Risk – This is the most wide-ranging insurance policy under this category. It does have a list of commonly held exclusions. Some of these include conveyance limitation, acts of war, and a failure to collect or pay fees.
- Named Perils – This has tighter limitations on what is covered. Specifically, if a peril is not explicitly listed in the policy, it will not be covered by insurance.
What Type of Companies Ship Cargostock?
Any company can use this umbrella of shipping, to include: Importers and exporters, manufacturers, and beverage makers to name only a few.
Properly and appropriately ensuring your raw materials and products throughout the entire process of obtaining components to shipping the final product will help you achieve success through the security of insurance.