FREIGHT FORWARDER LIABILITY INSURANCE – TRUST THE EXPERTS
The liabilities assumed by you or imposed on you for loss or damage to goods can be significant and financially penal.
Trade Contract Conditions vary considerably and cover all aspects of the contract, not just liability for the goods being carried.
Trade bodies have standard conditions for the use of members, i.e. BIFA, RHA and FTA. Other carriers have designed their own conditions.
Liability Under Statute
CMR (The Carriage of Goods by Road Act 1965) brought into British law the provisions of the Convention on the Contract for the International Carriage of Goods by Road, to standardise the liability of carriers undertaking international movement of goods throughout participating countries.
The Warsaw Convention liability can also be imposed on carriers in certain circumstances by Airlines for road carriage portions of an airfreight consignment.
You can protect yourself against these liabilities with a Freight Forwarders Insurance tailored to your own specific requirements. Freight Forwarders Insurance is usually inexpensive and is often a mandatory requirement of trade associations such as BIFA and a number of your potential Customers.
FREIGHT FORWARDER LIABILITY INSURANCE – HOW MUCH DOES IT COST
If you’re looking for freight insurance online, the cost will depend on the risk information received by the underwriter. Forwarder Liability insurance is generally cheaper than other types of coverage and has become more affordable in recent years.
The quote may be affected by hazardous routes or locations and the types of goods carried by the forwarder. Freight carrier insurance prices also depend on whether the forwarder has had any claims previously made against them.
THE RISKS COVERED BY FREIGHT CARRIER INSURANCE
Freight forwarders are faced with a variety of risks and exposures that may cause them to suffer legal costs. If they don’t take out adequate freight forwarder insurance it may result in unexpected financial exposure.
Liability for goods stored at warehousing premises are additional exposed. Cargo containers stored in the open may be broken into by thieves and damaged. Fencing and lighting help reduce exposure.
Worker Compensation Exposure depends on how much freight is handled by the employees of the freight forwarder. If workers are involved in managing or storing the cargo, there is increased exposure to injuries due to strains. This exposure can be limited by providing proper staff training and safety equipment. Employer’s Liability Insurance needs to be purchased to cover such risks. Ask about this cover separately if protection is needed.
You can find out about the specific policies you need for freight insurance online. Simply get in touch with us for a quote and consultation to find out precisely what risks and exposure you should be covered against.
Peace of mind without breaking the bank.
Choose The Insurance Broker, specialists in freight forwarder liability insurance, for your cargo insurance needs.
The Insurance Broker provide the expert advice as unlike other brokers, we specialise in the field of freight forwarder insurance policies.
We’ve spent years building a network of great contacts amongst some of the world’s leading insurers, ensuring that we’ll always find you the best possible deal.
Being Freight Forwarder Liability Insurance Brokers means we can provide you with quotations for road, rail and air cargo insurance, along with sea cover that includes General Average insurance free of charge.
We access and compare the entire insurance market, instead of a handful of preferred companies, so we’ll find you complete cover at a great price that won’t leave you reeling.
You can purchase Freight Forwarder insurance online through The Insurance Broker.
Policies are binding at the point of purchase.
Please contact us today to arrange payment terms on 01772 780 380.
Who Needs Freight Forwarder Liability Insurance?
When transporting goods overseas we highly recommend a marine transit insurance policy. This can range from businesses shipping products to overseas customers, buying goods from abroad that need to be shipped back to the UK and even families who are starting a new life overseas and need their personal belongings, furniture and vehicles transporting to their new home.
Many people assume that the carrier will compensate you for the full value of your goods or belongings should they get damaged. This is an everyday misconception. Shipping companies are only liable to pay you a sum up to the amount specified in their trading conditions – a figure that may be as little £1,300 per tonne!
Not to mention that without marine transit insurance you may be liable for the damage or loss of other people’s goods thanks to General Average – which stipulates customers whose cargo survives a voyage to compensate anyone whose cargo was abandoned to protect the cargo vessel.
Unless you’re happy to risk paying thousands of pounds for the damage or loss of your own, or someone else’s, shipments, with the probability of only a few pounds per kilo in compensation, we strongly suggest marine transit insurance. Protect your business’ products or your family’s belongings now. Call us on 01772 780 380 for a no-obligation quote for freight forwarder liability insurance.