What You Need to Know About Freight Insurance in Australia
Freight insurance is an important factor to consider when shipping goods. Freight insurance covers the value of goods in transit and is designed to protect against unexpected events that may cause a loss or damage to the goods.
- Freight insurance can be purchased from a variety of sources including a freight forwarder, an insurance broker, or a specialist freight insurance provider. Different levels of insurance are available to suit the size and value of the consignment being shipped. If you are looking for the right freight insurance in Australia then you may browse this site – https://www.cbi.au/industries-served/transport-logistics.
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- In Australia, freight insurance is regulated by the Insurance Contracts Act 1984. This means that insurance policies must be written in plain language and contain clear and concise information about the cover provided and any exclusions.
- When considering freight insurance, it is important to consider the type of goods being shipped, the distance of the journey, the insurance coverage required, and the cost of the policy. Different types of cover may be available depending on the goods being shipped, so it is important to discuss the specific needs of the consignment with the insurance provider.
- In most cases, the cost of freight insurance is determined by the value of the goods being shipped, the distance of the journey, and the level of cover required. The cost may also be affected by any specific needs of the consignment.
- In the event of a claim, the freight insurance provider will assess the claim and determine the amount of compensation due to the insured party. The process may involve a claims assessor assessing the damage, and the insurer then paying out the claim amount.
