🚚🔥 Insure Your Cargo's Full Commercial Value: Don't Gamble with Your Business! 🔥🚚
Dear LinkedIn community,
Are you aware of the hidden risks cargo owners face when relying solely on carrier liability insurance for their valuable shipments? At Cargofort Ltd, your trusted insurance broker specializing in transport and logistics, we want to shed light on the importance of cargo owners insuring their own risks to safeguard the full commercial value of their shipments.
Imagine this scenario: A cargo owner ships valuable goods with a carrier, fully aware that the commercial value exceeds the carrier's liability limit according to the CMR Convention. Despite the knowledge that they can obtain cargo insurance coverage to protect the full value of their goods, some shippers choose to cut costs by solely relying on the carrier's insurance.
In a recent case we handled, a devastating fire broke out during the transport, burning the valuable cargo and the vehicle entirely. The cargo owner, hoping to claim the full commercial value of the goods, faced a harsh reality. The carrier's liability insurer compensated only up to the limit of 8.33 SDR/kg, leaving the cargo owner with a significant financial loss.
Claiming "gross negligence" and seeking full compensation, the cargo owner argued that the carrier was entirely responsible for the entire value of the shipment. However, upon investigation, it was clear that this was not the case, and the cargo owner was well aware of the liability limit.
This example serves as a vital reminder that trying to "trick the game" and save on insurance expenses can have severe consequences. Insuring your cargo's full commercial value is a prudent decision that ensures your business is protected from unexpected losses.
At Cargofort, we offer the right insurance coverage for every shipment, with easy-to-conclude policies, affordable premiums, and a high level of claims handling. Don't leave your business vulnerable to potential losses. Take charge of your cargo's protection today.
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