Property in Transit
Whether you are moving your inventory across town or to a different continent, protection against loss is vital to keep your business viable and operational. At Pearson Wallace, our dedicated and experienced business insurance agent professionals are always available to discuss your needs.
Supply chain coverage is essential to maintain the success of your business. This type of policy indemnifies merchandise that has left your possession, but has not yet reached its destination. Goods being transported by private vehicle, such as an employee’s automobile, by a company vehicle, or by a third-party carrier are insured by a Property in Transit policy. Coverage for perils such as an accident that damages cargo, natural or man-made calamities, lightning strikes, fire, theft, flood, or the sinking of a vessel are all covered by this economical policy. Additionally, it provides protection globally--a must for international distribution of your inventory.
Pearson Wallace can offer you a tailored solution and deliver peace of mind with multiple options for insuring your property. Keep reading to learn about the ways we can help you maintain your business’s stability should you experience a loss. It is important to note that your policy will cover goods in only the locations specified in your policy, which is why we are here to guide you through all of your options.
For businesses with limited or occasional shipping needs, we can set you up with only the coverage you need. A policy to cover a single episode of transport is a cost-effective means to maintain your investment.
Should you require overnight storage in the carrier vehicle, there is a policy that will cover losses associated with vandalism or theft.
A policy can be specific to transportation of inventory that will be delivered via multiple vehicles. For example, overland conveyance followed by a seafaring vessel, followed by another episode of overland transfer.
As mentioned above, you might select a policy that will provide indemnity for losses associated with a company vehicle, a private vehicle, or a contracted outside carrier.
For firms that frequently ship moveables, an open policy is likely to provide the best results in the event of a loss. These policies cover goods for a specified time period, usually a year, without a limit on the number of episodes; they will also cover multiple modes of conveyance. Talk to your insurance specialist to learn more.
Customized policies are available to accommodate all of your needs as a distributor or manufacturer of moveable goods.
Immediate global coverage is important to your peace of mind and will help keep you focused on more immediate business concerns. Regardless of your role in the global economy, as an import/export concern, a trader, manufacturer, or aggregator you can rest assured that a Property in Transport policy will cover an actual loss as well as financial setbacks associated with a loss of property.
A Property in Transit policy is perhaps the most crucial risk management strategy for manufacturers and processors who engage in today’s global economy. Pearson Wallace is here for you.