Did you know that trucks move 70% of the goods transported in America? It’s big business, that needs to be covered.
If you have a company that needs goods transported, you need to be thinking about cargo liability insurance. If you don’t, it can cause trouble for you down the line.
When searching for logistics companies, you should look for one that offers cargo liability coverage. Are you still wondering why it’s important and why you should choose a company that offers it?
Let’s look into what it can do for you.
What is Cargo Liability Insurance?
Simply put, cargo liability insurance coverage will cover you for any loss of the goods while they’re in transport.
If any loss occurs while the goods are in transport, cargo legal liability will cover you. Of course, the loss has to have occurred within reason.
While it will cover many issues that could arise with the cargo, there are some things that don’t qualify.
More than $50 billion worth of cargo is lost annually. It’s important to make sure that you’re covered!
Who Is Responsible For Cargo Liability Insurance?
The carrier or logistics company should invest in cargo liability coverage. This ensures that they protect themselves and you from any loss during transport.
Choosing a freight company that doesn’t have this coverage can lead to many issues down the line. This is why it’s far better to choose a logistics company that does this.
What Does Cargo Liability Insurance Cover?
While cargo liability insurance can cover many things, it does have its limitations.
Typically, it will cover any loss of cargo while the truck is transporting it. Despite this being quite general, you may also be covered for anything that can go wrong inside the truck that causes you to lose your goods. An example is when frozen food is no good anymore due to the temperature system breaking down.
While this is great to have, you should also be aware that there are certain scenarios that your carrier’s liability insurance may not cover. For example, inclement weather that causes loss of goods is not the fault of the carrier. Therefore it is not covered under liability insurance.
To be sure of what your carrier has coverage for, it’s best to ask them before working with them.
Why Do I Need to Use A Company With Liability Insurance?
Choosing a logistics service that is covered with cargo liability insurance will protect both of you as you work together. You can have peace of mind that your cargo will arrive at its destination safely. Or, that it will be covered in the rare case that something happens.
You can also rest assured knowing that the company of your choice has done its due diligence.
Here at Yep! Commerce, we have cargo liability up to 250K!
Choose Logistics Services With Cargo Liability Insurance
Understanding the importance of cargo liability insurance is the first step to choosing the right company to work with. If they don’t have this insurance, you’re taking a huge risk.
We are proud to offer our customers cargo liability insurance up to 250 thousand dollars. It keeps you, and us covered as your goods are transported.
Are you looking for an insured logistics company to work with? If you are, get a quote from us today!