The Importance of Insuring Your Goods
Cargo Insurance is one of the newsletter themes that we feel is important to repeat from time to time, particularly as we receive a proportionate amount of enquiries via referrals from existing customers. We want our clients to be informed so that they can make the right decisions to ensure their assets have the relevant cover.
The Limitations of Standard Terms and Conditions for Freight and Warehousing
When goods are transported via sea, air or land, it is essential for the shipper or consignee to understand the importance of arranging cargo insurance separately to protect against potential losses or damage during transit and in storage. Cargo insurance can cover various risks, including damage, theft as well as loss, and damage caused by accidents or natural disasters. The coverage amount and terms of the insurance policy will depend on your specific needs and preferences.
Customers shipping goods by sea, air and land receive limited liability cover as part of the BIFA standard trading terms and conditions. These terms and conditions outline the responsibilities of both parties, including Westbound Logistic Services limited liability for loss or damage. While these terms and conditions may be convenient and cost-effective, they often fall short of providing comprehensive protection for your assets.
Customers storing their goods in Westbound warehouses receive limited liability cover as part of the UKWA standard terms and conditions which govern the storage of goods. These terms and conditions outline the responsibilities of both parties, including the warehouses limited liability for loss or damage to stored items. While these terms and conditions may be convenient and cost-effective, they often fall short of providing comprehensive protection for your assets.
Limited Liability Standard Terms and Conditions limit the liability to a specific pound/dollar amount based on the weight of the cargo. This limitation may not adequately cover the full value of your goods, leaving you exposed to significant financial losses in case of damage, theft, or other unforeseen events.
In Summary
Freight & Warehouse insurance provides comprehensive coverage for your stored goods, filling the gaps left by standard terms and conditions. With insurance in place, you can safeguard your inventory against a wide range of risk.
Copies of our trading terms and conditions for BIFA and UKWA can be found at the footer of this website.
If you have any questions regarding the above, then Westbound are here to help. So, please do not hesitate to contact us.
