Cargo insurance provides coverage for commodities that are lost, damaged, or stolen during transportation from the starting point to the final destination, irrespective of whether the fault lies with the carrier or not. The main objective of cargo insurance is to safeguard businesses from experiencing any financial loss.
So, if you got Cargo Insurance and your goods have been damaged in transit, you should file an insurance claim as soon as possible. These are the steps to take:
Ensure to record any shortages or damages in the bill of lading, and aim to provide a detailed description. It’s advisable not to return a clean receipt, as it signifies that you have received your goods in an undamaged condition, and this may lead to the invalidation of any insurance claim you may file.
Take pictures of the damage to the shipment. Try to capture the damage from various angles and perspectives to obtain a comprehensive view of the extent of the damage.
Maintain control of the damaged freight. You must keep it as evidence until your claim has been settled and take preventive measures to safeguard the cargo against any additional harm.
Notify all parties involved in the supply chain, including the supplier, carrier, and port/airport authorities if it is the case.
Inform your insurance provider and file a claim. If necessary, request the official claim form from your insurer, which may be available online for electronic submission or printing. This form will assist you in determining any additional documentation required to substantiate your claim.
Upon receipt of your claim, the insurance provider will evaluate all available evidence. If your claim is accepted, the insurer will reimburse you for the cost of the damaged goods, in some cases a deductible applies that you should know from the time you contract the service. It is important to know that if the damaged goods are repairable then the insurance company will go after this option and pay for the repairs instead of replacement even if you have ALL RISK coverage. Typically, claims are processed within 30 days of receiving all necessary documentation.
We provide you with customer service by connecting customers with different insurance providers, so we can assist you with excellent options for CARGO INSURANCE and support you in the claim process until you get your money back! Contact us.