TJO Cargo

How Does Cargo Insurace Work?

Some businesses may opt to only use the coverage from the ocean carrier that transports their goods. The way it works is you receive $500USD per “standard” shipping package lost or damaged. Well, if one 40-foot standard container contains $100,000 worth of items inside, it could be irrelevant. They will replace that standard container for $500.

What is covered under cargo insurance?

Cargo insurance is risk mitigation that protects you from financial loss due to damaged or stolen cargo.

What are the different types of cargo insurance?

“ICC Clause A All Risks,” & “ICC Clause C, Sometimes Called FPA or Total Loss,” are different names for the main types of types of marine cargo insurance coverage. Rates for importing, exporting, terms, conditions, and deductibles are not cast in stone. The what (commodity), when, where (origin and destination) and how (air, ocean, land type of transport) all impact the insurance variables.

What is Freight Insurance Coverage?

Freight insurance is a policy or certificate arranged by a third-party company, such as TJO Cargo, which insures the total or partial value of your cargo. It’s coverage exclusive to the party at risk and your specific freight shipments.

What are the three main areas of cargo insurance protection?

In general, the three major threats for cargo are; A (collision), B (handling), C (theft).