Whether you’re waiting on supplies to arrive at your warehouse door or shipping finished good to customers, you want to make sure your items are fully protected. Cargo insurance can help prevent financial hardship when your supplies and goods are damaged, stolen or lost. Here are three surprising ways that contingent cargo liability helps protect your business.
Jettison is the act of throwing items from an aircraft or ship in order to lighten the load. For example, if an aircraft runs low on fuel, cargo may be jettisoned to lighten the aircraft and provide more time for a proper landing.
If your goods are stored by the cargo company before or after shipment, they are still covered under your contingent cargo liability coverage. Coverage extends beyond transportation and includes the entire time your goods are handled by the cargo company.
3. On-Deck Activities
Loading and unloading activities that occur on-deck while the shipping vessel is docked or stationary are included in your coverage. For example, your goods are protected when they are present on a ship, even if the ship is docked and stationary.
Have Enough Coverage?
Not sure if you have enough contingent cargo liability insurance to fully cover your operation? Call your provider to discuss your plan and options.