Marine Insurance, Should I Insure My Cargo?
Posted: January 15, 2015
We always recommend customers to insure their cargo. This recommendation is not based on that something may happen while the cargo is in our possession, we recommend this simply due to the fact that international shipping goes hand in hand with risks.
For example, earlier this year around 520 containers were lost at sea after strong winds and huge waves caused containers to go overboard. That is 520 container in one day! The vessel that the containers were one is the Svendborg Maersk and the loss occurred while sailing around the Atlantic coast. Luckily the loss was not as significant as one would think as according to Maersk, 85% of the containers were empty. Either way, this must have been a very scary situation for any customer who had cargo on board that vessel. This is just one example of the risk that occur in the shipping business. As a matter of fact, it is believed that there are thousands of container loss at sea each year!
So why not insure your cargo? General merchandise can be insured at not even USD $1.00 per every $100.00 worth of merchandise. Contact us for more information regarding your cargo insurance and all of your cargo shipping needs.