Freight Forwarder Insurance Toronto

Out of all the transported goods in the world, around a total of 90 percent of them are transported by sea. This is the most cost-effective way for many companies to move raw materials and mass goods around the world. There are currently more than 20 million shipping containers, with 5 to 6 million of them currently in transport somewhere in the world—making 200 million trips a year. As of January 2018, there were over 53,000 freighter ships in the world’s merchant fleets.

With how many goods are transported through freighters every year, it is no wonder that some form of protection needs to be put in place in case of any form of liability. This is where Toronto freight insurance can help.

There are many different types of freight forwarder insurance in Toronto, including cargo insurance, rider insurance, shipping insurance, and marine insurance, and more. Essentially, all of these names mean the same thing; protection for goods or merchandise while in ocean transit.

What is Freight Forwarder Insurance?

Freight forwarder insurance in Toronto is a kind of insurance that provides an additional layer of protection for companies that deal with the transportation of goods using freighters.

Freight insurance protects you and your business against the loss of your goods while they are being transported from one location to another on an ocean freighter or cargo ship. It also covers any damages to your goods that might occur as well. Freight forwarder insurance coverage begins from the moment that your goods leave storage up to the moment they arrive at their final warehouse destination. 

There is any number of scenarios or catastrophes that could befall a freighter ship on its commute across the ocean. Having an insurance policy in place to protect against these risks can ensure that your investment is not lost to the same degree as without it.

Overhead shot of a freight forwarder insurance loading dock

Why is Freight Forwarder Insurance so Important?

Freight insurance is one of the most crucial aspects of businesses for anyone dealing with shipping their goods and merchandise overseas. It provides a safety net against a variety of unforeseeable disastrous events. By having this insurance in place, you can guarantee that you will survive a situation where you could lose hundreds of thousands or even millions of dollars.

What Does Freight Forwarder Insurance Cover?

Freight insurance in Toronto can cover businesses around the world against a wide range of liabilities. The most common insurance riders included in these policies can protect against the following:

  • Damage: Covers any risk of physical external damage (either partial or total) to your goods while in transit. In most cases, this is the highest coverage on your freight forwarder insurance policy.
  • Loss: In the stances of the total loss of the shipment, such as the freighter being struck by a catastrophe, you will be protected. Typically, this insurance rider does not cover goods against any partial losses.
  • Theft: You will also be protected in the instance that your goods are stolen during their transportation from one location to another.

The extent of your freight forwarder insurance in Toronto will depend on your business’s individual needs. As one of the leading commercial brokerages in the greater Toronto area, KASE Insurance can provide a unique freight insurance plan for clients around the world.

Who Needs Freight Forwarder Insurance?

Having a freight forwarder insurance policy in place can be beneficial to a wide range of industries and their sectors. This type of insurance policy is typically offered to companies such as manufacturers, distributors, importers, exporters, logistics, and of course freight forwarders. Anyone who utilizes freighter shipping should have this insurance policy in place to protect themselves against worst-case scenarios.

Why go with KASE Insurance?

Here at KASE Insurance, we pride ourselves on our ability to provide our customers with leading insurance policies and services. All of our Toronto insurance plans are completely customizable. That way, you can be sure you receive the exact coverage you need without any unnecessary fees. It is our team’s top priority to ensure that you receive the right insurance policy for you at the best rates possible. Additionally, an account manager will be assigned to you so that you can be sure that you are receiving dedicated customer care.

We work with a wide range of businesses and individuals across a variety of sectors—and you can be one of them. If you are looking for comprehensive freight forwarder insurance in Toronto, you have come to the right place. Contact KASE Insurance today in order to protect yourself tomorrow.