What Is Freight Insurance?
Freight insurance covers possible damage and other losses to items that are being shipped, often over long distances. Freight insurance is often known as shipping insurance.
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Customers
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Both businesses and individuals purchase freight insurance policies to protect against losses. Importing and exporting businesses that ship large loads of goods are frequent customers. Sometimes companies that ship items offer freight insurance to recipients of the items.
Forms of Coverage
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Freight insurance can be purchased as a temporary policy that covers shipments of specific items in a short time period, or it can be purchased as full-time insurance, which covers all items shipped over a longer stretch of time.
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Price
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The price of freight insurance depends on a number of factors, according to AllInsuranceInfo.com. Factors include the quantity of goods being shipped, their value, the type, the distance the goods will be shipped, the form of packaging and the means of transport (by automobile, train, plane, boat or some other method, for example).
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