Magaya Insurance Services Inc.
Customs Brokers, Truck Transportation Brokers, Cargo Insurance
Why is Cargo Insurance so Important?
It’s vital to protect the cargo while it is in transit, not just while it is in your warehouse. Perils include potential cargo damage or loss due to storms at sea or piracy, accidents on the highway, and more. Uninsured cargo will cost you and your business. Transfer the risk of financial loss from the cargo owner to the insurer.
Cargo insurance insures the shipper’s cargo while it is in transit, and it protects freight forwarders against physical loss or damage to the cargo from any external cause and protects you in case of loss.
Uninsured cargo raises the financial risk for the shipper and the freight forwarder.
Your contract or bank may require cargo insurance. Most banks require insurance to be issued before a letter of credit will be issued.
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