Shippers beware – Common problems with cargo insurance
Abstract: Manufacturers know that cargo insurance is vital when it comes to moving valuable products and machinery. But many have found, often too late, that their coverage isn’t sufficient, leaving them with lost or damaged goods and little or no compensation. The policies often have an “endorsements” section that prevents the carrier from being held liable in many scenarios. And a broker’s “contingency cargo liability” policy offers little protection to a shipper. For that purpose, a “shipper’s interest” cargo insurance policy fills the bill.