Ramon Insurance Discusses the Different Types of Shipping Insurance
If you’re thinking about shipping freight and cargo by air, water or land, you must be prepared for the worst case scenarios.
To protect your belongings and your wallet, you need cargo insurance. Cargo insurance minimizes the financial impact of loss or damage, and is a cost effective way of covering the customer.
Many are unaware of the stress a damaged shipment can take especially when traveling internationally. For over 3 decades, Ramon Insurance has provided companies and individuals with insurance for the safe transportation of their goods throughout the world. Here they are discussing the different types of cargo insurance depending on your personal needs.
What is Cargo Insurance?
If you are an importer, exporter, manufacturer, wholesaler, distributor, or business owner, you know how important it is to deliver products to customers in proper condition. Cargo insurance is coverage that protects your shipments, including physical loss or damage, whether it be by air, land, or sea. Covered scenarios include infestation, damaged due to collision, theft, and fire.
To personalize your insurance needs, Ramon Insurance offers various shipment policies. Whether you’re an individual shipper or an international business owner, Ramon Insurance has a plan for you, with the best prices in the market and the friendliest customer service.
What are the different types of cargo insurance?
There are different types of cargo insurance for all types of shipments and businesses. Cargo insurance providers like Ramon Insurance typically provide the standard three options.
1. All Risk Coverage
All risk coverage is a coverage that protects any damage to a shipment during transit no matter the physical cause. This could cover any partial or total damage, breakage, shortage, theft, or any catastrophic event. Insurance companies sometimes only offer this option on occasion, but it is an excellent choice for shipments that are going international and certainly depending on the kind of whether the transfer may have to bear.
2. Total Loss
Total loss coverage is a coverage that is restricted regarding ancient goods or used goods. This coverage is only usually offered for specific types of products or transits. Total Loss coverage protects you from catastrophic events only. For example, if there is a total loss of a truck or aircraft which was caused by a catastrophe, this would be covered.
3. Named Perils
Another universal coverage is called named perils. This coverage protects you from total loss of partial damage to a shipment. Your shipment will be covered against specific perils. If there are risks during a transit like collision or fire, an earthquake or sinking; your shipment would be protected against this particular disaster. It’s great if you know what risk your shipment will be taken, depending on where it’s going and what time of year it is, says Ramon Insurance.
With all of the many risks your shipment undertakes when traveling, whether it be nationally or internationally, having a full replacement value protection is extremely valuable. Not only does it protect the shipper and receiver financially, but it also provides peace of mind so that both parties can focus on other tasks.
Innovative companies like Ramon Insurance have created diverse insurance packages to suit the unique needs of every shipper to insure the shipping process is a smooth and successful one. For the best prices and customer service in the industry, call Ramon Insurance. We are the only direct provider which means that we are saving you ALL the many markups and fees of middle man and 3rd parties.
