To provide optimum protection to the freight, having cargo insurance is necessary. This insurance provides financial protection against physical loss or damage to freight during shipment.  Cargo insurance mitigates the risks associated with exporting or importing products.

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If you’re into import or export business then you can't deny the importance of delivering the products in their appropriate condition. Most business owners often underestimate the importance of freight insurance. 

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Cargo insurance offers financial protection against:

• Damages due to inappropriate packing

• Invasion

• Abandonment of cargo

• Dishonesty due to collision

• Damages due to bad weather, sinkind, and derailment

• Non-delivery

• Theft

• Fire damage

• Explosion 

• Riot, strikes malicious damage

• Storm, flood, cyclone, inundation

• Earth-quake, burglary, accidental physical loss or damage

• Impact by any rail/ road vehicle

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If you are into an export or import business that requires ample transportation of goods you should definitely consider and say “yes” to cargo insurance, as it safeguards your goods against the untoward events. What would you do if an important shipment of your company is lost or damaged?