Question

Write Short Notes Cargo Insurance.

Answer 1

Cargo Insurance provides coverage against all risks of physical loss or damage to freight during the shipment from any external cause during shipping, whether by land, sea or air.Also, known as Freight Insurance, it covers transits carried out in water, air, road, rail, registered post parcel, and courier.

Cargo insurance is important in international trade.

Different types of cargo insurance policies available for transporting goods by land, sea, or air.

Businesses need cargo insurance to reduce risk in importing and exporting.`Cargo insurance is covered under risk policy or floating policies.

The cargo may be of any description, for example, wares, merchandise, property, goods and so on..

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