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Freight Brokers, Goods in Transit, and A Transit Insurance Policy

transit insurance policy

As a broker, you want to provide your clients in the transportation industry with the proper transit insurance coverage they will need when moving merchandise and cargo from one destination to another for their customers. You understand their need to protect the goods of those entrusted to them so that they reach their destination safely and without incident. Any loss, damage, or destruction of goods can be very costly to those you service, not only for goods that are lost or late but also for future business since their reputation is also at stake.

Whether their clients are looking to insure a single shipment or the goods in question require a commercial shipper, freight forwarder or logistics provider needing to cover multiple shipments, you need to determine the best transit insurance policy that will specifically cater to those needs.

Goods in transit require a special rider

Goods stored in a warehouse require one type of policy while inland marine coverage is necessary to cover the insured’s property while in transit over land from one location to another. Not having this policy increases the risk that, were something to go wrong, whether while traveling on a truck, train, ship, or other vessel, the coverage in place, if any, might be insufficient to cover the cost of any losses that might be incurred.

Organizations that are in high-risk industries and those that are developing have expanding needs that need to be met. Those that haul perilous items or dangerous materials have a necessity to protect their business resources and stay in compliance with liability prerequisites, law and regulations. With regards to business planning, goods in transit insurance policy is a crucial part of the plan that must be addressed.

You want your clients to have the peace of mind knowing that their responsibility for any shipment they have taken control of is properly protected by a top rated cargo insurer with the broadest coverage options, highest financial ratings, and claims payment stability. There are reputable insurance agencies available that are proud to offer a primary transit insurance policy from “A” rated insurers, who specialize in this unique type of policy.