Logistics companies transport goods daily by sea, air, or land. This industry is critical for many businesses. However, the goods are vulnerable to theft, damage, and accidents, putting the drivers at risk.
Sell goods to customers through different channels.
Buyers, sellers, and transporters of goods between countries.
Shipments of goods are organized by a person or entity from the manufacturer to the customer or final point of distribution.
Simplify your focus to online sales between businesses.
An LSP is a company that takes care of storing, moving, and delivering a company’s goods.
A person or company that produces items for selling purposes.
Transporters are accountable for any possible damage or loss of goods during transportation on behalf of companies.
A company that has production facilities in at least one foreign country.
Transit & transportation insurance work together to protect business property that’s transported or stored offsite. Policies can be customized to fit specific needs, such as more storage coverage or protection during transit. This policy responds to any unique needs.
Cargo theft costs the transport & logistics industry $30 billion annually. The average value of theft has increased by 36% as thieves now target higher-value merchandise.
About 11% of all shipments are damaged when they reach the distribution center. This can cause a ripple effect that often goes around in circles.
Truck crashes have gone up by 52% since 2009. Sadly, 74% of fatal crashes involving passenger vehicles also involve big trucks. Experts predict that by 2030, truck crashes will be the fifth leading cause of death in the US.
Our policies are tailored to your company’s needs and typically cover Transit & Transportation risks, including:
Store property offsite (e.g. construction equipment), at third-party locations (e.g. vending machines at customer sites), in moving vehicles (e.g. food truck), or at your primary business for high-value property (e.g. artwork).
Consider moving your business by land with rigging equipment for a smooth transition. This is especially helpful for transporting valuable or difficult equipment.
Communication towers are vital for a country’s infrastructure, providing important services to its people and enabling effective communication among various communities and areas.
Here’s a claim example that illustrates what Transit & Transportation Insurance covers:
During a stormy transport of fabric-filled boxes for a customer, the goods inside were damaged by water seeping through the cardboard. The boxes became dented and the fabric got wet. The loss can be covered by Transit and Transportation Insurance.
Transit & Transportation Insurance does not cover:
Insurance for transit and transportation can be customized to meet your company’s unique needs. However, there are many factors that affect your premium, such as:
Shoot us your email and we’ll kick off a conversation to help get you a quote on the best coverage for your brand.