Freight insurance

Freight insurance, or goods insurance, is an insurance policy that protects goods’ owners against financial loss when goods are on their way from supplier to recipient.

Insurance is the responsibility of the goods' owner.

Any business that sells, buys or otherwise has goods on the road, should consider whether a freight insurance should be undertaken. If you have freight insurance,  the claim against your forwarder will be handled by your insurance company.

Are you considering freight insurance as a trading company?

Here are some issues you should consider

• is the company able to deal with a loss equal to an entire shipment?

• does the company want financial compensation for any loss, with an insurance company assuming the risk for the goods, and replacing any damage/loss incurred?

• should the company only insure against catastrophic losses, or does it want “complete coverage” ?