Cargo insurance covers loss or damage of goods during shipment, and applies to transportation by air, sea, or land. Even when freight forwarders, shipping lines, airlines, and truck drivers do their best to take good care of your cargo, loss and damage can occur on occasion.
From natural disasters to pirate attacks on commercial ships (yes, this still happens – the most recent occasion was in April 2017 near African shores, according to NY Times), it is prudent to expect the unexpected. Thus, your goods need insurance, just like you need a health insurance despite the fact that you are in good health. Continue Reading