Cargo insurance is a type of insurance that covers/compensates a buyer or seller of goods against cargo damage or loss of cargo.
Insurance is an intangible benefit that can protect you from situations where your cargo is lost or damaged.
Whether your shipment is
You can have your cargo insured to eliminate risk.
Any shipment has the risk of theft, damage, or abandoning. In all these situations, you want to be covered.
In the USA, cargo theft has a high concentration in six states, and certain cities and truck’s stops. Thefts are more frequent on weekends and spike during holidays. Internationally, Brazil, Mexico, and South Africa are three of the worst countries for cargo theft, according to Freightwatch.
How does cargo damage occur?
In every cargo shipment, a CARRIER is contracted to carry the goods from point A to point B by rail, road, sea, inland waterway or a combination of these modes.
If you consider the movement of cargo by road, air or ocean, several forces are acting on the shipment during transport caused by the movement of the truck, vessel or airplane.
It can also be caused by incorrect packing by the shipper, misguidance by suppliers, among other factors.
At EP America we can help you with insurance for your next Air, Ocean and/or Ground shipment. Remember that anything can happen when the cargo is in transit.