Transport insurance
Transport insurance protects goods during transport against risks such as damage, loss, or theft. It is an important component of logistics planning and risk minimization.
Basics and Functionality
Transport insurance is usually concluded through insurance contracts and covers various risks, including:
- Physical damage: Breakage, moisture, fire, or accidents.
- Theft or loss: Protection against loss during shipping or transport.
- Liability risks: Coverage against damage to third parties.
Insurance can be arranged individually for each shipment or as part of a framework agreement for recurring transports. Premium calculation is based on the value of goods, type of transport, risk, and distance.
Benefits of Transport Insurance
- Risk minimization: Protects the value of goods in case of unforeseen events.
- Legal certainty: Clear regulation of liability between shipper and carrier.
- Financial security: Avoids high costs due to damages or losses.
- Planning reliability: Enables companies to design stable and reliable supply chains.
Challenges
- Choosing the appropriate coverage amount and scope.
- Considering country-specific regulations for international shipments.
- Coordination with carriers and logistics service providers.
- Providing proof of damage for insurance processing.
Importance in Modern Logistics
Transport insurance is an integral part of risk management in supply chains. It enables companies to move goods safely, reduce financial risks, and build trust with customers and partners. Combined with modern tracking systems, damages can be detected and processed faster, increasing the efficiency of the entire logistics chain.