Cargo Insurance Coverage Limitations

Comprehensive cargo liability programs for your marine goods can protect your company’s assets from all kind of risks. For example, your policy may pay out to cover losses caused by fire, theft, and other events. However, as with all insurance, there are limits to the coverage these plans can provide.

What’s Not Included

Standard marine cargo liability programs may not cover losses from things like war, military action, riots, and other civil strife. Because marine cargo goes all over the world, it’s important to note that your standard policy may not adequately cover you in unstable areas of the world.

Furthermore, basic policies don’t cover losses that mold and mildew cause. This lack of coverage can be a real problem in the seas. Standard cargo insurance plans also do not include general wear and tear or damage that marine life may cause.

What You Can Do

Just because these risks aren’t included in standard cargo liability programs doesn’t mean you’re stuck without the protection you need. If you fear that your cargo may become damaged by anything that your standard policy doesn’t cover, be sure to talk to your insurance broker about it.

You may be able to add riders or special coverages to your plan that cover these risks. Adding this liability coverage can keep your finances safe from more threats and help you feel at ease.