My company recently intends to carry out transit trade business. I heard that various risks may be encountered during the trade process, such as damage to goods during transportation and delivery delays. So I want to know, can transit trade be insured in such a situation? If so, which types of insurance should be taken to protect the company's interests? I hope to get answers from professionals.
The company is involved in transit trade business and is worried about the risks of cargo transportation. It asks whether transit trade can be insured and how to choose suitable insurance products. The best answer points out that transit trade can be insured. When choosing an insurance product, it is necessary to clarify the characteristics of the goods, the transportation route, the mode of transportation, etc. It also mentions common insurance products and that professional platforms like Zhongshitong can provide solutions.
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Professional consultant answers
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
Transit trade can be insured. Transit trade involves the transfer of goods between different countries and faces many risks. Insuring can effectively reduce losses.
Generally, cargo transportation insurance can be taken to protect against losses caused by natural disasters, accidents, etc. during the transportation of goods. For example, goods may be damaged by moisture due to bad weather. Export credit insurance can also be considered. It can prevent buyer credit risks, such as the buyer's default on payment or inability to pay due to bankruptcy, and protect the safety of the exporter's foreign exchange collection. In addition, for the possible delivery delay risk, if it is caused by reasons such as transportation tool failure, additional protection can also be obtained through specific insurance clauses. When insuring, the trade process, goods information, etc. should be informed to the insurance company in detail to select a suitable insurance plan.
In short, reasonable insurance can escort transit trade.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
It can be insured. There are quite a few risks in transit trade, and cargo transportation insurance is necessary. For example, if the goods are damaged during loading and unloading, compensation can be obtained.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Of course it can be insured. Besides transportation insurance, credit insurance is also crucial for transit trade to prevent customers from defaulting on payments.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
It can be insured. You can seek professional consultation like Zhongshitong, and they will recommend types of insurance according to the actual situation.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
Transit trade can be insured. Taking an all - risks insurance can cover various risks and reduce losses.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
It can be insured. WPA (With Particular Average) also compensates for partial losses of goods, which is suitable for transit trade.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
Certainly it can be insured. FPA (Free from Particular Average) compensates for total losses of goods caused by natural disasters, etc., providing protection.
James LiuYears of service：10Customer Rating：5.0
Foreign trade tax refund consultantConsult
Insurance can be purchased for transit trade. For example, the Theft, Pilferage and Non - Delivery (TPND) insurance can prevent the risk of goods being stolen.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
It can be insured. War risk can avoid the risk of goods being damaged due to war in special periods.