CARGO insurance

At each stage of the transport process various events can occur resulting in lost, damaged or destroyed cargo. While goods on land have solid protection from the carrier’s insurance, the situation is worse at sea. The shipowner operates under regulations that limit its liability both in terms of events and the amount of compensation.

Many cargo owners make the mistake of not taking out CARGO insurance. They think that the goods are automatically protected by the shipowner’s third-party liability, which covers all situations and guarantees full compensation. Unfortunately, the shipowner’s responsibility for the safety of the cargo is very limited, and any compensation claims are extremely expensive and time-consuming.

Many cargo owners make the mistake of not taking out CARGO insurance. They think that the goods are automatically protected by the shipowner’s third-party liability, which covers all situations and guarantees full compensation. Unfortunately, the shipowner’s responsibility for the safety of the cargo is very limited, and any compensation claims are extremely expensive and time-consuming.