Transportation insurance is a specially-designed insurance policy that provides coverage on various types of property while it is in transit from one location to another. It is designed for any mode or type of transport – be it aircraft, vehicle, train, or boat.

The coverage that is provided is based on the overall value of the products being transported and the risk that is taken while the products are being moved to their destination. It can be added to personal or commercial types of insurance. It covers inland and international transportation. 

What Modes of Transportation Does the Insurance Coverage? 

Transportation insurance covers any type of transport that occurs on the land, in the air, and in the water. 

Does It Cover More Than the Products Transported?

Transportation insurance covers the products being transported, but can also cover additional aspects such as packing, loading, unpacking, unloading and more. It is imperative that you evaluate the policy – in detail – so that you will know exactly what is covered.

Additionally, certain policies will cover the storage of the products while they are being transported from one area to another. 

Does Transportation Insurance Cover Loss and Damage?

Yes, transportation insurance covers both the loss and damages that occur to the products that are being transported. It does not matter if it is caused by mishandling or other types of damage from accidents, impact fires, theft, criminal mischief, or other types of situations.

Transportation is ideal for businesses that rely on their products arriving as expected. It provides a sense of security and it offers financial protection to avoid the complication of loss of revenue if losses or damage occurs. 

Is Transportation Insurance Best for Businesses? 

Yes, transportation insurance is mostly used by businesses. This is because there are heavy risks involved when it comes to goods in transit. These products may be damaged, lost, and may even experience delays.

This type of insurance provides protection to property. The insurance may be obtained by the company doing the transport or the owners of the property that will be transported. 

What Factors Go into the Policy Coverage?

The details of the contract of the transportation insurance policy will heavily depend on the type of cargo that is being transported, the value of the cargo, the predefined areas of the set cargo, and the amount being transported.

It is important that you take the time to ensure that all products that you ship are packed in a safe and secure manner. This will aid in mitigating any loss that may be experienced and helps in optimizing the protection of the products during the shipping process. 

Get Transportation Insurance Today 

It does not matter if you are a company that ships products or you are a company responsible for transporting products, it is important that you obtain transportation insurance immediately.

If you need assistance with this endeavor, contact us here at Modica Associates today by calling the following number: 718-855-1836