Shipping disasters happen all the time. According to the International Transport Workers’ Federation, approximately 2,000 seafarers lose their lives because of what goes on in the open sea. There are a number of working sea vessels that go across the ocean without mishap, but there are some that are not so lucky. This is why it’s important to work with a freight forwarder to help to protect your valuable freight while en-route with shippers interest cargo insurance or marine cargo insurance.
Insuring Your Cargo
Just as you want to insure a package that goes across the country so you are not out the money when it doesn’t reach the destination, the same goes for heavy and high-end cargo that you may be shipping to some corner of the world. While your cargo is on a ship, hitting the bumps of the ocean, you want to be sure everything is insured.
Shipping losses occur every year and there have been issues where a container ship has capsized in the sea or been captured by pirates. There are approximately 20 million containers crossing the world at any time, though it could be any number of them that are lost, stolen, broken, or lost to the bottom of the sea.
A shippers interest cargo insurance policy, can be used to ensure that your cargo is in good hands throughout its journey.
Also Steamship lines are allowed under their trading terms a reflected on their bill of lading to limit their liability to as little as $500 per shipping unite, which could be an entire container.
Purchasing Shippers Interest Cargo Insurance
There are various polices that you can explore with shippers interest cargo insurance and the protection can provide you with peace of mind. You need financial protection within the freight industry and at GSIS, we’re here to help.