Cargo Insurance

Why is Cargo Insurance so Important?

It’s vital to protect the cargo while it is in transit, not just while it is in your warehouse. Perils include potential cargo damage or loss due to storms at sea or piracy, accidents on the highway, and more. Uninsured cargo will cost you and your business. Transfer the risk of financial loss from the cargo owner to the insurer.

Cargo insurance insures the shipper’s cargo while it is in transit, and it protects freight forwarders against physical loss or damage to the cargo from any external cause and protects you in case of loss.

Uninsured cargo raises the financial risk for the shipper and the freight forwarder.

Your contract or bank may require cargo insurance. Most banks require insurance to be issued before a letter of credit will be issued.

Why Choose Magaya Insurance Services for your Cargo insurance?

Magaya Insurance Services works with logistics software to make it easy for you to process insurance requests. Declarations are generated and saved in your system.

With all your shipment data in your logistics system, you can produce a report to show all events and history associated with any shipment that is involved in a claim. All the charges are available to fulfill any request to resolve an accounting discrepancy.

Financial reporting tools in the Magaya Insurance Portal will enable you to present all needed documentation in case of a claim. No need to search multiple locations for paperwork, thus ensuring faster and more accurate claims resolution.