Should I Get Ocean Container Insurance?

Anything could happen to your freight when you are shipping containers overseas. Poor securing of a container on an ocean vessel could result in massive damage. Inside your containers, a large amount of empty space might result in your cargo shuffling or potential moisture damage. There are even cases of theft that occur to containers all of the time. When container damage or loss occurs, shippers might be in a financial dilemma. That is why you might want to consider getting insurance for your ocean freight. Insurance will give you the peace of mind in case anything were to happen to your ocean freight containers.

Usually when you receive an ocean freight quote, insurance is not included in the rate. Depending on the value of your cargo or the type of commodity you are shipping, (popular examples include refrigerated goods or hazardous materials) you might have the option of purchasing insurance. If your cargo is damaged, and if the damage would greatly impact you on a financial level, then you should consider purchasing insurance for it.

However, when purchasing insurance, make sure you read all of the fine print. Some insurance plans only cover certain kinds of damage in transportation. Other plans are not available in certain foreign nations. And then there are the plans that are called “all risk” coverage, which sounds fancy, but there could still be limitations. Consult with your freight forwarder to see if you should get ocean container insurance and what type of insurance would work best for your international shipment. Planning ahead of time can make a big difference.