Travel Why do we Need a Cargo insurance? Posted on December 31, 2018 Comments Off on Why do we Need a Cargo insurance? 0 82 We all know shipping cargo can be handled easily and while handling containing there are many parties involved which is a risk. In case of damage, it’s better to avoid this frustration. In this blog I am going to let you know why weight forwarder always encourages to pay extra amount for cargo insurance. Check it out this is because to get a compensation on any damage. It has been seen various shippers have to face great losses and regrets. Cargo Theft Cargo theft is on rise these days and to avoid fabricated pickups. Piracy is one of the major risk for cargo theft that caused undesirable losses for modern shipping. Careful shippers always pay attention to this to avoid such issues. Containers lost at Sea As per the research report sea freight we come to know that majority containers are lost at sea and this figure is getting increased day by day because of huge stacks of containers. Insurance has become important despite of such great loss. If we will do the insurance then our loss would be compensated to some extent. Catastrophic events We never know about natural incidents and this is obviously difficult to avoid. Just like storms and explosions or pirate attacks are the biggest risk for the air freight company and in such situation they have to suffer huge loss. Do you know it may be possible for overboard ships to lost in a sea? To get rid of such issues and biggest loss insurance is best. Transport companies in Dubai provide maximum insurance to compensate your loss in such catastrophic events. Unusual Damages Whenever you shipped anything to other country. Damages are often and this may be occur because of stacked containers. Most of the time containers overboard, theft and shortage. Cargo damage occur often because there are so many opportunities of destruction. The main reason of damage is to involve different parties to handle your containers. Do you know what the reason of destruction are? Poor container condition, wrong choice of container, overloading, lack of export packaging, poor distribution of cargo weight, stack weights and poor ventilation. Contractual Requirement Shippers’ sale contracts offer ocean cargo insurance to protect the buyer’s interest. It’s imperative for shippers to pay attention on small contracts detail. Non-compliance with the terms of contract with buyer can lead to sales loss and legal problems. Coverage for Limited Liability Shippers are not responsible for common causes of loss that usually occurred in transit. When carriers are liable in any event of loss it is limited. Shippers never depend on carrier for shipping goods to cover all type of losses and damage that may occur because of container. Full control over insuring terms Shippers should be satisfied to purchase the insuring terms and limits are provided by every insurer to meet customer needs. While importing and exporting they run risk of properly protected. Foreign insurance company always claim dealing. Shippers purchase cargo insurance are quite better than shippers to allow other parties for importing and exporting transactions. These are the few reasons that raised the importance of cargo insurance and if we want to save ourselves from uncertain damage then we need to look at these aspects where unusual damages, catastrophic events and much more reasons that are above described here in blog. You may get a detailed idea by keeping an eye on latest searches and surveys where these cargo businesses have faced major losses while shipping.