As a freight broker, you work to find a balance between the occasionally contrary needs of shippers and cargo carriers. This is a very tough position to be in, especially when the carrier or the carrier’s insurer declines payment on a liability claim, putting the responsibility on you. To avoid catastrophic pressure and damage to your business, keep yourself and your assets protected with a contingent cargo coverage insurance policy.
Transportation insurance is one of the few types of insurance that is not regulated by state law. Therefore, different insurers tend to offer vastly different policies and coverage options. To properly navigate the complexities of the unregulated side of the insurance market, get the help of a skilled insurance agent who has experience in getting clients the perfect, most suitable coverage options.
Helping the Cargo Owner Get Insurance
Since the interactions between cargo owner, transportation broker and carrier tend to get very complicated, if you find yourself working with a relatively inexperienced cargo owner, convince them of the importance of getting their own cargo insurance coverage. Any of the following help tremendously if the carrier refuses to pay a claim and if there is no basis to find you liable.
- Project Cargo
- High Value Cargo
- On-Deck Coverage
- Expanded Warehouse to Warehouse Coverage and more.
If each part of the supply chain is properly insured, a single element will not suffer greatly.