There are many ways in which your clients can ship their products, including by truck, rail, air or sea. Contingent cargo insurance protects the customer from several instances where potential losses could occur that could be very costly without transportation specialists having the proper coverage in place. Having this type of insurance protects not only their business assets, but also the company’s reputation, and those relationships that they have with customers and clients that they’ve worked so hard to maintain.
Cargo insurance provides a financial safety net
Everyone from transportation brokers and freight forwarders, to importers and exporters, as well as logistics providers all depend on cargo coverage to aid them when an issue develops and a shipment is either damaged or lost, or arrives late to its destination, much to the customers dissatisfaction. A cargo policy can be tailored so that, it not only protects the customer’s interests, but it also enables your client to improve their company’s growth potential significantly.
For example, let’s say that they arrange a shipment of goods for one of their best customers and the train derails and those goods are no longer usable, you’re client would have a pretty big mess on their hands. One of their primary concerns would be erased since the shipment is properly covered, and although this will result in a loss of time, they won’t be critically affected financially. This situation will end up creating a lot of stress, along with substantial legal fees, but without insurance in place, most businesses would have a hard time recovering. That’s the benefit they get by having contingent cargo coverage on hand.
Agencies that offer contingent cargo insurance coverage have analyzed the insurance marketed to the logistics industry, noting any existing gaps with respect to policies currently available, and have therefore been able to provide some of the best programs to this dynamic industry. Partnering up with the right insurer, one that designs their cargo insurance program to provide reliable, comprehensive coverage is the best bet.
Whether your client arranges for transportation of goods across the nation, or around the globe, there’s always a possibility that the product may fall victim to theft, an accident of some kind, or some other mishap that can have a negative effect on your bottom line. The only way to protect profits from these types of losses is a customized continental cargo insurance program.