Insurance For Your Import Export Business

Insurance For Your Import Export Business

An insurance is used to insure any thing that is dear to us, including to our business as well. Specifically for your import export business, that includes from your employees right to the cargo.

About Insurance For Your Import Export Business

Insuring Employees

Compensation law vary from state to state, although generally speaking the policy covers from illness and/or injury occur during the job.

Export Credit Risk Insurance

Several types of policy under this term available and nowadays they are created according to the niches within the business, from big companies to small, one time job, so you will only pay premium for what you really need. The policies are intended to protect your interest, should any unfavorable circumstances happen, lowering the risk whenever possible.

It’s best to inquire with your local insurance agent or any Export-Import bank nearby, to provide you necessary information, for your peace of mind.

Cargo Insurance

The policy differs depending on the type of goods, and method of shipping. Should anything unfavorable happens to your cargo, the coverage should be enough to cover specific and general occasions, and pay for any lost or damaged goods, as well as the trouble that occur during the lost profits. Cross check what the policy covers with the downside of your cargo (for example, potential E.coli outbreak that can affect your goods).

Insurance For Your Import Export Business
We certainly didn’t want that

A backup policy (known as contingent policy) is also a good idea, if you personally think that more coverage is needed, and the other party is unable to attend to it.

Brief explanation for cargo insurance, click here.

Where To Get Insurance For My Goods?

Freight forwarders, insurance companies, or related banks local to you are able to provide you further information concerning the goods, as well as the right type of insurance for your import export business. Double check the policy and seek advice to ensure that the policy is right for your needs.

Related reading. Incoterms.

*Kindly take note, that while we strive to keep the information here as correct as possible, it should be treated for general purposes only. Read more on our disclaimer page here.

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