- Assessing the RiskBefore shipping, companies evaluate factors like cargo value, transportation mode, and potential risks.
- Choosing the Right CoverageOptions range from basic liability coverage (limited protection by the carrier) to all-risk insurance, which covers most unforeseen losses.
- Purchasing the InsuranceBusinesses can buy cargo insurance from specialized providers or online platforms for instant coverage.
- Shipment in TransitOnce insured, the cargo is transported, and the policy remains active until delivery.
- Claims Process (If Needed)
- If goods are damaged or lost, a claim is filed with the insurer.
- The insurer evaluates the claim, verifies the loss, and compensates based on policy terms.
How does Cargo Insurance work?
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