The transport sector is quickly expanding — the demand is rising, and customers are asking for faster shipping times. As pressure grows, the error rate increases, putting the transport industry on edge. Luckily, the transportation sector can cushion itself with transportation insurance. Don’t know much about transportation insurance? Hang on as Bronson Insurance Services of Oak Creek, WI, sheds more light on this coverage.
What is transportation insurance?
Transportation insurance protects those who are in the business of moving goods. Transportation insurance can apply to individual businesses but is widely used in commercial companies transporting goods locally and internationally. It covers goods while being transported on land, air, or water. Ultimately, you may need transportation insurance if you are in the below categories:
- Retailers and wholesalers
- Importers and exporters
- Freight forwarders
- Common carriers
- Multinational companies
What does transportation insurance cover?
When you are handling goods on behalf of others, a lot can happen. It could be damage or theft of goods. Thankfully, you don’t have to bear such losses if you have transportation insurance. Generally, this coverage provides the below protection:
- Covers theft or damage to goods: Whether the goods are in storage or transit, transportation insurance covers damage or loss to these goods. Businesses that have inventories should ensure that the logistics company has invested in this insurance as it offers security and financial protection should losses occur.
- Liability protection: Should your truck or moving vehicle cause bodily injury or property damage to other people, transportation insurance should come to your rescue. Because liability claims can be expensive, especially when lawsuits are involved, investing in transportation insurance is the best thing you can do for your business.
Ready to get started with transportation insurance in Oak Creek, WI? Please get in touch with Bronson Insurance Services for an affordable quote.