All-risk cargo insurance provides more than protection against loss; it can safeguard your business against unnecessary financial liability.
Domestic and international transportation liability for physical loss or damage to goods is commonly misunderstood. The importance of cargo insurance is often realized after a costly incident occurs and shippers can be found liable for much more than just the cost of their own goods. Maritime laws, such as General Average, hold shippers responsible for a portion of the damage to the ship and its total stowage.
Runner Shipping can arrange a comprehensive cargo insurance package that protects shippers against the hazards inherent to every supply chain, including General Average. The robust coverage included in Deringer’s All Risk Insurance Policy provides transit insurance and warehouse storage insurance, both with enhanced clauses not found in most shippers’ cargo policies. Failure to have coverage that includes the enhanced clauses can leave insurance gaps that expose shippers to the cost of loss or damages that are more than their own goods. It’s a common misconception that declared value is used for calculating insurance from the carrier, when in reality, carriers are not responsible for Acts of God, Acts of War, or any damage outside their control.
Benefits of cargo insurance from Deringer:
- Enhanced policy with unique clauses to protect 100% of your transit exposure
- Minimizes your transportation-related risks
- Coverage specific to your needs
- Prompt & efficient claims settlements
- Competitive rates
- Door-to-door single source coverage
- captive solutions
- difference in conditions and difference in limits (DIC/DIL)
- stock through-put
- freight liability
- cargo consequential loss
- war and strikes (including terrorism)