Why should you take out transport insurance?

Transport insurance is a means of providing step-by-step protection for your products throughout their journey, designed to cover the property of the insured or of a third party who is under your responsibility, against any direct physical damage covered by the policy, occurring during the journey from the place of origin (start of the journey) to the destination (end of the journey).

This coverage may be desirable for any type of undertaking that involves taking a valuable item from one place to another, from handicrafts to specialised equipment. Insuring goods that are shipped internationally is always a good idea; the likelihood of damage in transit exists and can result in serious financial loss, especially if the volume is substantial or the value is high.

Different risks may arise during the transportation process, especially now that distribution chains are congested and there are longer waiting times. According to data from the Secretariat of Security and Citizen Protection, cargo thefts have increased in the last 5 years; in 2020 alone, 21,145 cases were recorded. In addition to identifying that the most stolen goods are food and beverages with 47%, followed by construction and industrial (7%) and miscellaneous (6%). In the State of Mexico, the theft of units smaller than 3.5 tons is increasing, occupying the first place where incidents occur, with 34%.Knowing the high risks that currently exist in the transportation of goods, it is important to have insurance to back up any complications and incidents that may occur along the way, firstly, to guarantee the maximum legal amount of compensation for damage to goods; and secondly, in the case of higher compensation agreements, to guarantee any damage suffered by the goods during transportation, without affecting the economic results of the companies due to frequent or high claims.

Transportation Insurance should be contracted by any professional or company involved in the transportation of goods, whether it is the owner of the goods, the different intermediary figures, the actual carrier or even the final consignee of the goods. Give your clients peace of mind by providing the coverage at the moment they require it and you will deliver the policy in less time.