Securing the proper Marine Cargo insurance is critical in mitigating the risk of financial loss to your goods within the supply chain. Marine Cargo insurance provides coverage for your goods in the event of loss or damage during domestic and/or international transit.
Transit risks can include incidents that involve: rough handling, collision, overturn, theft, or non-delivery, jettison (the act of casting goods from a vessel or aircraft to lighten or stabilize it), General Average (all parties in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the whole in an emergency), and natural disasters, to name a few.
Cargo insurance may be written to protect goods shipped by sea, air, truck, or rail, and can include coverage throughout the distribution supply chain as well as while warehoused or in storage, as needed. Goods may be insured on a spot-shipment basis or under an open cargo policy.
Roanoke Trade can customize a Cargo insurance program depending on your needs to include:
- International and Domestic Cargo Coverage
- Warehousing and Storage
- Stock Throughput
- Expanded Warehouse to Warehouse Coverage
- On-Deck Coverage
- High Value Cargo
- Project Cargo
Unlike other types of insurance, state law does not regulate Cargo insurance, therefore what is and isn’t covered can vary drastically from policy to policy. As such, partnering with an experienced specialist who understands the intricacies of cargo insurance and supply chain is an invaluable advantage to those seeking to protect their financial interests. Roanoke Trade, along with our network of logistics service partners, are strategically positioned to guide you through this complex process and to provide you with the proper type of coverage.
Logistics Service Providers – Shipper’s Interest Policy
As logistics experts (freight forwarders, property brokers and other third-party logistics providers), your customers rely on you to advise and guide them through the transportation process. Many cargo owners do not understand the risks inherent in transportation or have access to the resources to insure them. So you have an opportunity to educate and provide them with the products necessary to manage those risks.
Roanoke Trade can provide logistics service providers with a high quality, competitively priced and easily managed Shippers Interest Policy that allows you to offer your clients the insurance they require. This coverage directly insures your client against physical loss or damage providing them a better option than solely relying on the carrier’s liability insurance and unlike carrier’s insurance, a Shippers Interest Policy will pay to either repair or replace the cargo regardless of if the carrier is found liable.
Turn to the Expertise of Roanoke Trade
For an in-depth risk evaluation, please contact us at 1-800-ROANOKE or complete the Contact form located above.