Cargo insurance refers to insuring the cargo being shipped from any damages or
theft along the way, whether through land, ocean, or air transport. Shipping lines
and carriers are very limited in terms of liability value so in most cases, the value
of the goods will be higher than the carrier insurance liability limit.
Therefore, without the proper insurance, you could lose a big part of the value of
your cargo. Risks covered depend on the insurance plan you purchase for your
freight business.