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CARGO INSURANCE
What is cargo insurance?
It’s very similar to other kinds of insurance out there - health, travel, home, car.
Cargo insurance protects and provides coverage for any sort of damage, theft, or loss that may happen to your shipment during transit.
How can you obtain cargo insurance?
You can usually arrange for insurance with your freight forwarder or carrier.
Do you really need cargo insurance?
Legally, yes, all carriers are required to carry a minimum amount of insurance. But usually the coverage is very limited.
As a buyer, you can always request a higher insurance coverage with your freight forwarder or carrier.
cargo insuranceIs cargo insurance different from freight insurance?
No, they are both used interchangeably.
The term “freight” usually covers goods that are transported by rail or road, whilst cargo refers to air or ocean. But in reality, cargo can be used to refer to freight, and vice versa.