In case items in transit are damaged or lost, freight claims would be the way of regaining some of the lost value. However, just as in any insurance policy scenario, it’s very important that you merely take each of the proper and appropriate steps.
In knowing how to better manage cargo claims the initial part, begins before you begin shipping: choosing the proper quantity of freight insurance and cargo liability. However, do you realize the difference? Cargo Insurance and Cargo Indebtedness
From the unfortunate situation that your cargo is damaged or lost, it is important to understand what’s covered by cargo insurance policy insurance and what is covered by liability and what the difference between both is.
Freight insurance won’t offer protection from all losses that a motor carrier may be responsible for under the Cormack Amendment or common law. There’s not any single standard sort of cargo insurance that a provider may go out and buy and be completely shielded.
Likewise, a certificate of insurance stating that a motor carrier includes a certain amount of cargo insurance doesn’t necessarily mean a broker or the shipper’s that freight insurance will cover the legitimate claim.
It is therefore incredibly important that all motor carriers, shippers, brokers, consignees and many others who are interested in a freight be mindful of the degree of the motor carrier’s duty for freight loss under the appropriate law and also the scope that the motor carrier’s cargo insurance offers protection for this liability.