Why cargo owner needs insurance
When cargo loss or damage happens, a cargo owner might reasonably expect that a carrier who has custody of the cargo would reimburse the cargo owner for losses to their property, but this is not always the case. There are so many factors in negligence that could affect the general rules from the Steamship Lines or Airlines. A general steamship or Airline freight liability coverage for damage or loss is commonly limited to SDR667.67 or SDR2.00 per Kilo whichever is greater applies to Hague Visby Rules, or US$500 per 'customary shipping unit’ per COGSA Rules, which in many cases is considered a full ocean container. Air shipments are generally covered at SDR22.00 or US$30.6 per kilo. The best solution is comprehensive Cargo Insurance. One hundred & ten percent of the value of your shipment is the recommended coverage to protect not only your freight, but also ancillary charges that arise in moving it.Contact us to learn more details.
