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Industry and Company FAQ's
Canada Imports and ExportsUnited States Imports and ExportsOnline Cargo TrackingGeneral 1UP Cargo FAQ'sCustoms Exams FAQ'sAll-Risk Cargo Insurance
- 01All-risk cargo insurance is an extensive insurance solution that safeguards merchandise in transit against many potential perils. It offers protection against many risks, excluding only those mentioned explicitly in the policy terms. All-risk cargo insurance is generally more comprehensive than other cargo insurance options, covering a broader range of potential threats. This includes protection against accidents, natural disasters, theft, and damage or loss caused by handling or storage. However, it's important to note that all-risk cargo insurance doesn't cover "every single thing" that could potentially damage or destroy cargo. Examining the policy's terms and conditions is crucial to understanding what is and isn't covered. Specific exclusions might apply, such as war or acts of terrorism.
- 02Cargo insurance acts as a financial safety net, safeguarding your shipments against various risks during transit, regardless of the mode of transport. Here's how it can benefit your business: - Preserves Cash Flow: Unexpected losses or damage can disrupt your cash flow. Cargo insurance ensures you're compensated, maintaining financial stability. - Simplifies Claims: Dealing with loss or damage claims can be complex and time-consuming. Insurance streamlines the process, making it less stressful. Minimizes Business Disruptions: Insurance provides financial support for your business, allowing it to continue operating despite losses. Adapts to Risk: The shipping landscape and risks are constantly evolving. Cargo insurance provides the flexibility to address these changes, minimizing losses and liabilities. In essence, cargo insurance helps you navigate shipping uncertainties, providing peace of mind and financial protection.
- 03As is standard practice in the insurance industry, this policy does not cover consequential damages, including financial losses resulting from delays. Insurance coverage protects only the contents within the shipping container, not the transportation equipment, such as the chassis, genset, or container. Any charges related to these items will be applicable, collected, and billed back.
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