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Thread: Insurance in commodity transportation

  1. #1
    Regular Member
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    Default Insurance in commodity transportation

    It's quite a pity that most people or businessmen doesn't take goods transport insurance seriously until they are on the losing end. Although it cost a little bit to have one's products and commodities insured during transportation, such cost won't be compared to what one would lose should accident occur while the goods are still on transit resulting to the destruction of those products.

    A wise businessman should never joke with goods transportation insurance as he will be the one enjoying it if anything goes wrong. Some people simply just decide not to insure such goods, with the view that nothing would go wrong in transporting the products. It's a 50/50 gamble but it's not a wise decision from my point of view.

  2. #2
    Silver Member Alexandoy's Avatar
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    Default Re: Insurance in commodity transportation

    From what I know, goods coming in to the warehouse are already insured. Importations come out of the pier with an insurance policy so that when something happens, the commodity in the truck is recovered in value. But I also understand that there are some trucking companies that save on the insurance expenses. Having no insurance on the commodity you are transporting is a big gamble.

  3. #3
    Regular Member
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    Default Re: Insurance in commodity transportation

    Quote Originally Posted by Alexandoy View Post
    From what I know, goods coming in to the warehouse are already insured. Importations come out of the pier with an insurance policy so that when something happens, the commodity in the truck is recovered in value. But I also understand that there are some trucking companies that save on the insurance expenses. Having no insurance on the commodity you are transporting is a big gamble.
    They have other special insurance. They are expensive and cover many risks.

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