Freight Insurance Companies
If you own a business that deals with physical inventory, you know how large of a role being able to ship and receive your goods plays in the success of your business. If you can't send your goods where they need to go, your business is not going to be successful. While speed can give your business a significant competitive advantage, what's even more of a necessity than speed is ensuring that your goods actually get where they need to go. If you are expecting a shipment but it never arrives, you are going to have a serious inventory problem on your hands. And if you make a shipment but it never reaches your customer, you are not only going to have an angry customer to deal with, but you may potentially face a lawsuit. While working with a dependable carrier can ease a lot of your concerns and make things easier on you, there are risks that can't be controlled by you or your carrier. It's for these risks that you need to protect yourself with freight insurance.
Many people assume that when they ship goods, they are protected by their carrier's coverage. While it is true that carriers have coverage, what most people don't initially understand is that this coverage doesn't fully protect their shipments. If a natural disaster strikes a carrier, they're not liable for the losses; you are. Another issue with carrier coverage is that it commonly pays out coverage by weight instead of full value. Because of this factor, if you depend on your carrier's coverage, you may only be able to recover a small percentage of your actual losses. As a result of all these issues, it's simply not a good idea to depend on your carrier's coverage. If you want to ensure that you are protected, you need to obtain your own policy from a freight insurance company.
Freight insurance companies provide full protection for your goods. Because they insure based on the full value of your goods, in the event of a loss, you will be protected for the full amount of your goods. While freight insurance companies provide superior protection to carrier's coverage, their protection still comes at an affordable price. A policy from a freight insurance company is also flexible. By working with the company, you will be able to create a policy that fits your unique needs. For example, your policy will take into account the type of shipping that you do. If you are only shipping and receiving domestically, you will only need coverage for land transportation. However, if you are shipping and receiving across the globe, you can take advantage of a policy that provides you with air and water protection.
Freight insurance companies also provide different levels of protection. This gives you the ability to tailor your policy to fit the needs of the goods you are shipping. The basic level of protection is total loss. Although this is the basic level, it still provides you with plenty of protection. If you feel that the goods you are shipping require more protection, you can choose a basic risk policy. This is the middle point between a total loss policy and the most comprehensive type of policy. The policy that will provide you with the most comprehensive protection is an all risk policy. While it is the most expensive type of policy, it's also the one that will provide you with the most protection available.
If you have decided to look for a freight insurance company, it's easiest to do it online. Using the Internet makes it easy to see what's available in terms of freight insurance companies. Once you find a company you're interested in, you will be able to obtain an instant online quote. If you decide to work with that company, you will be able to handle the entire process electronically. This speeds up the process and allows you to receive instant proof of coverage via email.