What Is Cargo Insurance and Who Can It Benefit?

There are many types of insurance products out there, and while you may be familiar with some of the most common types, there are likely some types that you have not heard of or are not all that familiar with. One of these types of insurance is cargo insurance. Here at Choice One Insurance Inc., serving the greater Portland, OR area, we are proud to offer cargo insurance to individuals and business owners. 

What Is Cargo Insurance? 

Cargo insurance is designed to insure the value of cargo that is being transported. By law, cargo transporters, such as those transporting cargo by train, plane, truck, or ship, are required to carry insurance for the loads they accept, but the type of insurance they have to carry usually only pays about $0.30 per pound of cargo. As such, if your items are stolen, damaged in an accident, or lost, you will only receive about $0.30 per pound for the items being shipped. Your items are likely more costly than this, so insuring the value of the cargo is important. This is exactly what cargo insurance is. 

Who Can Benefit From Cargo Insurance? 

Cargo insurance is typically purchased by one of two people. If you are moving and you have a cargo transporter moving your household goods, you can benefit from cargo insurance. Secondly, if you are a business owner who transports goods from one warehouse to another or ships large loads to distributors, you can benefit from cargo insurance. 

Contact Us Today

If you are a business owner who ships large loads of cargo, or you are a homeowner who is shipping cargo due to a move, you may be looking to purchase cargo insurance. Here at Choice One Insurance Inc., serving the greater Portland, OR region, we can help you with all of your cargo insurance needs. Contact us today and let’s work together to get you the insurance coverage that you need.