Freight insurance is transport insurance that covers damage or loss occurring during transport. It protects the sender or recipient from financial losses in the event of damage, loss, or theft of goods.
Transportation is associated with numerous risks. Weather, accidents, theft, or improper handling can cause damage. Freight insurance ensures that companies are not left with the costs in such cases. It covers the damage in whole or in part, depending on the type of contract.
There are different types of freight insurance. The most common is all-risk coverage, which covers almost all damage. There are also special policies, for example, for specific transport routes or sensitive goods. The amount of liability and deductible also vary depending on the contract.
The insurance can be purchased by the sender or recipient. It is often arranged through the freight forwarder. It is important that the insurance coverage is in place before the transport begins. Only then can comprehensive protection be guaranteed.
