Marine cargo insurance isn’t just for businesses that operate on the wide-open seas. If your company relies on transporting goods across land or over water, you might benefit from a marine cargo plan. The advantages of marine insurance include coverage of property damage and loss as well as theft.
Protection From Property Damage and Loss
Shipping your cargo across land or water leaves your product vulnerable to damage and loss from accidents and natural disasters. Marine insurance protects cargo during transport across the water. Likewise, inland marine insurance policies insure your product against loss or damage whether transported by truck or train. According to the Hilb Group of Florida, inland marine insurance will also cover your property while being stored in a third-party warehouse.
Stolen Property Protection
Another risk of shipping goods is the potential for the property to be stolen during transport on land and water. A good marine cargo policy may cover not only the loss of your product during a theft but also financial losses incurred from delays to shipment even when your property is not part of the stolen cargo.
When your product is your business, you want to protect it. By land or by sea, marine cargo insurance can give you the protection you need during the shipping processes.