In the business of transporting goods across the globe, there are a lot of things that can potentially go wrong. From something as minor as a small accident to something like death due to an accident on the road, there are a lot of things a transit company can potentially be held liable for. That is why it is important for these companies to get the right transit insurance policy for their needs.
There are a few different types of coverage when it comes to getting transit insurance. The first is transportation coverage, which protects the property being transported no matter what the mode of transportation is. It will cover the property during transportation, during storage and during loading and unloading. Another type is motor cargo liability coverage, which is coverage that applies to trucks or vans. This not only covers damages, but also theft or property getting lost. The last type is warehouseman legal liability, which covers items for long-standing customers that have to be stored in a warehouse temporarily. This type has specific restrictions for which customers would get the coverage.
Depending on the type of business, the type of transit and some other factors, one type of insurance may be preferred for your business over another. Choosing the right transit insurance policy is important for keeping your business covered.