Firearms Insurance Agent Blog

What is Ocean Cargo Insurance?

June 16th, 2014
For those involved in the firearms industry, especially manufacturers, something to consider having is ocean cargo insurance, which covers goods in transit for loss or damage when shipped by air or sea.

Ocean cargo insurance covers your goods from the time they leave the point-of-origin warehouse in one country to the time they arrive at their point-of-destination in another, as transported over international waters. Since you can’t physically be with your cargo to make sure nothing bad happens to it, ocean cargo insurance provides you with something important: peace-of-mind.

Say you’re in America but importing firearms from Europe. Lots of things can go wrong when materials get shipped from one continent to another, including terrible storms, fires, collisions, and thievery.

What happens if the ship your cargo is on gets sunk in the ocean? What if the ship accidentally collides with another ship and the containers with your items fall into the sea or get destroyed from the impact? Even something as simple as a ship’s boiler bursting could ruin your cargo.

Ideally, you want your items to be in the best condition possible—not broken, stolen or otherwise ruined during transport over international waters.

It’s better to have ocean cargo insurance should something go wrong, then to take a huge loss should your goods get lost or damaged during the international shipping process.

Trent Yager of Associated Services in Insurance, Inc. helps firearms industry manufacturers and others obtain the best ocean cargo insurance coverage possible. Based in Grain Valley, Missouri, Yager and his staff can be reached by calling 877-776-4015 toll-free to discuss insurance options.