Excess Cargo Insurance, an Added Measure of Protection
Cargo theft is a daily concern that affects all avenues of the shipping industry. It’s a multi-billion-dollar criminal industry that threatens the US economy and our national security. And, adding injury to insult, the exorbitant costs to industries is, by necessity, passed on to consumers. The result is higher prices for just about everything, and a huge gouge out of every citizen’s financial budget, excess cargo insurance is an added measure of protection.
Cargo is stolen from tractor-trailers, rail cars, ships, planes, and even directly from warehouses, with stolen goods being sold on the internet, directly to willing consumers, and through unethical third-party enterprises. If you have stolen goods, most likely there is someone willing to take them off your hands.
So, what is a business owner to do to reduce his chances of being victimized? Don’t rely on any single approach to cargo protection and security. You need layered cargo protection and a security network to keep products and shipments safe. In addition to the usual security personnel and video surveillance, consider vetting of employees, tracking devices, locks, and barrier seals. Review your operations, and try to imagine every criminal scenario with regards to potential “weak links” in your security system.
For shipping losses other than theft, make sure you have adequate insurance. Private insurance on large shipments can be extreme, so consider using a freight broker with an option to purchase excess cargo insurance when needed. Freight broker services are valuable to both shippers and motor carriers. A good freight broker will help you find reliable carriers, that fit your needs and minimize your risks, by utilizing their knowledge of the shipping industry and technological resources. Excess cargo insurance enables your broker to cover freight values that exceed the carrier’s primary cargo limit.
In a volatile world, rife with unexpected dangers and disasters, you need to ensure that you are protected on all fronts. LOGISTIQ Insurance Solutions can help you accomplish this.