What type of insurance is cargo?
Freight insurance, more commonly referred to as a cargo insurance policy, is a particular type of insurance coverage that protects the carrier’s liability from a financial loss due to physical loss or damaged cargo in loads run by a company.
What is the difference between cargo and freight insurance?
Freight insurance is the additional protection that covers your cargo in case of loss or damage. Cargo insurance keeps you calm and confident during the shipping process. If something happens to your freight, the insurer will reimburse its value, so you don’t have to cover the expenses yourself.
What does cargo insurance exclude and include?
An unexplained loss or shortage of goods is excluded when it occurs from a vehicle owned, leased or operated by the insured party. This most common occurrence would be theft of property from the vehicle, either by the insured or employees of insured.