Types of Cargo Insurance and Risk Factor
Once the cargo is insured, and in case of unforeseen circumstances, customers can always get back a certain percentage or even the entire value of the goods damaged as covered under the relevant cargo insurance policy. Insurance coverage’s varied by air, land, or sea, because of which all insurance policies are specifically tailored according to individual shipper needs and requirements. Coverage’s provided are for all risks or on specially defined risks, as needed. Types of Insurance Cargo insurance avoiding risk and helping you to get the safest delivery of your material. When you go with Cargo insurance there are factors of risk which can avoid on regular basis. All Risk Coverage- Like the name suggests, this is a comprehensive coverage policy, which includes everything that is not specifically excluded. However, typical types of exclusions are: · Inherent Vice – Infestation, loss due to market delay, failure of the product to perform intended functions, and spoila