Recently, a user asked: is cargo insurance the same as cargo insured transportation? What's the difference between the two
There are two ways to insure the consigned goods, i.e. cargo insurance and insured transportation. The principle of voluntary insurance shall be adopted and the consignor shall decide on his own.
Cargo insurance shall be taken out by the shipper from the insurance company or by the carrier.
Insured transportation of goods refers to the transportation of goods that are entrusted according to the insured goods and compensated according to the shipper's declared price and the degree of damage to the goods in case of compensation. The shipper can only choose to insure or not to insure the value of the goods consigned by a waybill.
When the shipper chooses the insured transportation, the declared value of the goods shall not exceed the actual value of the goods; Insured transportation is insured for the whole journey.
In the case of partial transportation or transportation undertaken by more than one carrier, the premium shall be negotiated between the first carrier (freight forwarder) and the later carrier and specified in the contract of carriage. If there is no agreement between the carriers, it shall be handled as uninsured transportation, and each carrier shall bear its own responsibility.
About the difference between cargo insurance and freight insured transportation, Xiaobian will share with you here. If you also need this aspect, or if you need to consign a car, you can call our logistics company's hotline to consult and handle relevant business.