Insurance
Current laws and tariff restrictions limit the liability of loss for carriers.
Frequently, industry regulations only expect carriers to return as little as 1/3rd the value of lost or damaged cargo. In fact, most carriers are not held responsible for losses which are deemed ‘unforeseeable’ or ‘beyond their control’. And have fun defining those terms in court.
With STG’s “All-Risk Coverage”, we can cover the cost of your items at the value you would have sold them for. This fraction of an investment insures your products are covered in-full – dollar for dollar. Insuring you for profitability.
Insure Ground Shipments
Did you know that LTL (less than truckload) carriers by law are only required to pay you from .50 cents to $20 per pound for a loss or damage? This could leave extreme short fall if this occurs. Most TL (truck load carriers) only carry $100K as their maximum cargo insurance. Not to mention both LTL and TL carrier will mitigate a claim or loss for the cost you paid your supplier for the goods. Not the amount you sold it for.
Insure Airfreight Shipments
Airlines by law are only required to pay to a maximum of $9.00 per pound for a loss or damage. In most cases this will leave you at a severe loss financially if a claim should occur. Airlines will also ask you to mitigate the claim to your suppliers cost for replacement not to mention the time it takes them to settle a claim. You could be out the replacement cost for months on end.
Insure Ocean Shipment
Were you aware that by law ocean carriers are the ones that are more protected than the shipper is? An ocean line is only required to pay out a maximum of $400 per container if a loss or damage should occur. Fires, ships being hijacked, water damage from compromised containers and losing their containers into the sea because of storms are becoming more common than the ocean carriers would like you to know. Don’t leave yourself at risk.
