Air Cargo Insurance
Air cargo insurance helps to protect against legal liability when damage is done to the property of a customer while that property is being shipped. Things such as damaging weather, carriers who handle property roughly and many other risks can cause destruction or damage to property of customers. Air cargo insurance helps to eliminate the legal and financial responsibility associated with this risk of damage. This is a form of marine cargo insurance which used to cover goods that were transported only over waterways but today covers cargo in all spectrums of travel. Companies that operate by shipping customer property should have air cargo insurance to avoid legal complications arising from damaged, lost or otherwise destroyed property.
Air cargo insurance can be purchased directly from an air carrier or may be covered as part of a marine cargo insurance policy. Export shipments are typically covered completely by cargo insurance and again, companies that operate by shipping customer property should always carry this type of coverage. Carrier liability is often limited in a sense by international agreements and coverage for air cargo is often very different from traditional domestic coverage. The arrangements for cargo insurance can typically be made by either the seller or the buyer, often outlined in the terms of the sale. If you own a company that ships frequently then purchasing a coverage policy is a good idea. If you are a buyer expecting to purchase a product that will be shipped then you should check to ensure that air cargo insurance is provided. If not, then you should purchase a policy yourself to protect your property until you receive it and ensure that it has not been damaged in transit.
Typically, those companies that import and/or export things such as raw materials, finished or semi-finished products or those who sell finished products abroad should purchase air cargo insurance. Import and export traders, retailers and many manufacturers fall into these categories and need this coverage to protect the property of their customers as well as themselves. Air cargo insurance policies typically cover products from the beginning of their journey until they reach the customer. For instance, a product would be covered from the minute that it leaves the warehouse of the seller until the second that it is received in the store of the retailer. Products are typically covered whether they are shipped by air, sea, or on land and the coverage remains until the product reaches its final destination of the journey.
There are many insurance companies that offer air cargo insurance. Determining whether you need this coverage should be done beforehand and then you can speak with an insurance agent or go online and purchase the coverage that you need. Consumers who want to protect their products during shipment will find many options available regarding cargo insurance. Companies that typically import and export should have various options available as well. You can speak with your local insurance agent to learn more about cargo insurance and the amount of coverage that you need. Premiums will likely vary depending on the value of the products being shipped as well as the length of the destination for the product. Many companies may also offer discounts for adding air cargo insurance to another policy. If you have business insurance with a specific insurance company, check to see if you can get a lower rate for adding your air cargo coverage along with your original policy. You will find many insurance companies online that give detailed information about cargo insurance, premiums and how to tell if this coverage is something that you need in your business.