What Is Import Export Insurance & Who Needs It?

Does your company buy or ship products to or from other countries? If so, then you probably need to know about Import Export Insurance.

Import Export insurance Post Insurance Torrance CAWhat is Import Export Insurance?

With the advent of things such as Fulfilled by Amazon (FBA) and other online ventures, imports of products have become commonplace, even for small businesses. Larger companies almost all participate in the global marketplace and, in essence, the world no longer sees borders as business boundaries. However, dealing with clients and vendors in other countries comes with risks. That is why Import Export Insurance policies like Cargo Insurance are so important.

Import Export Insurance is a type of insurance cover that relates to goods that are transported to and from countries. If your company is an exporter or importer – or both – then having the relevant insurance cover in place is essential to the continuing success of your company.

Why Do You Need Import Export Insurance?

If you import or export goods within the United States or anywhere in the world, it’s likely that you have a vessel, air cargo or transit exposure. If your goods are high in value, the risk of loss probably justifies the cost of Import Export Insurance. In particular, you should consider Cargo & Transit Insurance.

What sort of situations does Cargo & Transit Insurance cover?

  • Your goods are damaged or lost in transit.
  • During shipping, your goods cause damage to someone else’s property.
  • Injuries caused by your goods while moving them from one location to another.

Once your goods leave America, you have little control over the people who handle them or any guarantees they will reach their destination. Litigation in other countries can get expensive, and it’s often hard to prove who was at fault.

Get Import Export Insurance from an Agent Who Knows

When it comes to Import Export Insurance, you need an insurance broker who has experience with the import-export trade. They can help you determine exactly what type of coverage you need and how much.

  • What type of goods are you importing or exporting?
  • Where do they come from? Which countries do you export to?
  • Will we need to arrange Cargo & Transit Insurance that cover goods worldwide at processing or storage locations?
  • Does the valuation of your goods increase at various locations where further value is added, and how do we accommodate that increased risk?
  • Can we negotiate combination policies which may eliminate the need for value or shipment reporting?

Post Insurance has served the needs of businesses in California for over 60 years. They provide all types of commercial insurance, including Import Export Insurance at the most competitive rates. Post Insurance is the largest insurance agency in the area, representing over 50 different insurance companies. Call today and find out more about Import Export Insurance and how it can protect you from potentially catastrophic losses.