Cargo Insurance Quote – Get ALIGNED With More Options
Moving goods from a warehouse to customs, across international waters and beyond, the supply chain involved in shipping goods is complex. Across Canada, our team understands the nuances of marine risk, available options and can deliver a cargo insurance quote that meets all of your organization’s needs.
Cargo Insurance – 8 Major Considerations
According to Eagle Underwriting Group Inc., some of the “things you need to know about cargo insurance include:
- You are not limited to the restrictions of a carrier’s contract of carriage.
- You will protect your cash flow.
- You will have peace of mind that every shipment you have is insured.
- You are insured for the full value, including any profits if necessary.
- Coverage is placed on the right conditions, with terms that you have negotiated.
- Your interest is insured while you are financially at risk.
- Local and professional claims service means prompt and efficient claims handling.
- Minimal paperwork and simplified reporting.
There are new and emerging risks in international trade, and there are several unique insurance coverages that can protect your business.”1
Cargo Insurance Quote – A Multitude Of Coverage Options
Marine risk is constantly evolving as are the coverages available to Canadian business owners. Eagle Underwriting Group Inc. notes that “there are several types of risks that need to be identified and protected:
- Physical Loss or Damage to Cargo — Domestic and worldwide coverage for most types of cargo including general cargo, stock through-put, project cargo, manufactured goods, commodities, heavy-lift, valuable cargo, hazardous cargo, and perishable cargo.
- Stockthroughput Risks – Coverage for goods while in storage, which is useful for a company that imports, stores, and then distributes their cargo.
- Rejection Insurance – Covers the risk of rejection of the cargo by a governmental authority.
- Exhibition Risks — Often a customer sends their goods to a show to promote their product. Besides the transport to and from, their goods can be covered while at the show.
- Cargo Legal Liability — Coverage for various providers of logistics services for liability arising out of the operations of a freight forwarder, customs broker, warehousemen, trucker, aircraft operator.
- Professional Liability — Coverage for the professional liability of a load broker, freight forwarder, or customs broker.
- Political Risk — Refers to the negative consequences that result from the action or inaction of government, and provides coverage for assets in foreign countries, contract frustration and political violence.
- Supply Chain / Trade Disruption — Is a rapidly growing area of insurance, which covers the Net Profit or Extra Expenses due to non-arrival or delayed arrival of goods due to a disruption in transit. Can also cover loss of revenues due to delay in start-up (DSU) of cargo and ship building projects.”2
Talk to us about your cargo insurance needs. Wherever you are located, we can help you get a cargo insurance quote that delivers more value and options to your Canadian business.
|ALIGNED Across Canada 100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Waterloo, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.|
Source: 1,2 Eagle Underwriting