The many benefits of using the Insurance Broker for Cargo Insurance
Many people wonder why they should use the services of an insurance broker in this digital age, since it is a simple matter to log on to one of the assorted meerkats that are ever-present on the television and get a comparison of several different products. These services don’t cost anything and claim to save you money.
Indeed, they may well save you money, but whether they provide the best sort of insurance for your purposes is an entirely different question. To begin with, they don’t cover all of the possible insurance companies’ products. In fact, at least one major insurance company that advertises on television states that its’ products cannot be found on comparison sites. That is not to say that its’ products are necessarily better or cheaper than those that are, but if there is no comparison, how can you possibly know?
Furthermore, the products offered on comparison sites may very well not be as good as another policy from a different insurance company that better covers your requirements. Insurance policies are, to say the least, complicated, with all sorts of caveats, exclusions, and so on. There is nothing worse than making a claim for an incident that has occurred, only to find out that there is an exclusion clause for exactly that incident, or the way in which it occurred, and therefore your claim is rejected.
This is why we say that you should definitely consider using an insurance broker in order to get the policy that is exactly right for your individual circumstances at the best rate. Certainly, at The Insurance Broker, in that sense we are biased because we make our living as an insurance broker!
In fact, the premium, while not irrelevant, is by far from the major consideration. The most important thing of all is to see that you get the cover that is RIGHT: the premium is of secondary consideration. As an insurance broker, we have access to a huge range of different companies, and over the 20 years or more that we have been in business we have built up relationships with the biggest and the best insurance companies to cover a wide range of different situations. This is particularly true of our cargo and marine insurance speciality.
Furthermore, as an insurance broker, we don’t charge you any fees unless specifically stated. We work with you to understand your needs and then research the market to find the policy that covers exactly those needs at the best rate. So our services cost you nothing. We get paid by whichever insurance company you eventually decide to go with – and don’t forget that the choice is still ultimately yours and yours alone. You may choose not to accept our recommendation and decide to go elsewhere.
However, there is also another side to the story. While everyone hopes that it doesn’t happen, you may come to a day when you have a claim on the insurance policy that you bought. Now, if you bought a policy on the recommendation of a meerkat, how much help do you believe the said meerkat will give you if you have a claim?
We are very different at The Insurance Broker, because we will help you to process a claim if one should arise. This is where things can get very complicated, especially with matters such as cargo insurance claims. Indeed, when it comes to a cargo claim it is necessary to understand that the claim is not based on whether the carrier was negligent, but on the fact that the carrier is in breach of contract. The carrier agreed to transport your cargo from one point to another point. In return you agreed to pay his fee. It is implicit that the cargo will arrive at the destination, and arrive in the same condition as it left the shipper. When cargo is lost or damaged, that breaches the contract between carrier and shipper.
As a general rule, as the shipper you have to prove your claim. This means that you have to prove the cargo was in good order when it left you, was damaged when it arrived at the destination, and prove the amount that you have lost. When you can do this, the burden is then transferred to the carrier who has to either pay the claim (or his insurer does) or defend the claim.
Furthermore, that is only the beginning of making a claim. There are time limits for making a claim and these can vary according to the method of transportation, and different time limits can apply for initiating legal proceedings if the claim is denied. On top of that, many carriers use a variety of methods of transport – for instance, road, rail, and sea – and it is important to determine in which mode the carrier was operating when the damage or loss occurred.
There is more to it than that, as well. However, perhaps it is clear that using the services of The Insurance Broker will not only help you find the RIGHT policy, but also if you have any sort of a claim.