Our company has recently been involved in transit trade business. The goods may face various risks during transportation, such as natural disasters and accidents. I wonder if transit trade can be insured in this case. If so, how should we choose a suitable insurance product? I hope to get a professional and detailed answer. Thank you.
The company intends to carry out transit trade business. Due to risks such as damage to goods during transportation and delivery delays in the trade, it asks whether transit trade can be insured and which types of insurance should be taken. The best answer indicates that transit trade can be insured. For example, cargo transportation insurance protects against transportation risks, and export credit insurance guards against buyer credit risks. When insuring, detailed information should be provided to select a suitable plan.
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Professional consultant answers
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
Transit trade can be insured. Goods in transit trade also face many risks, and insuring can effectively transfer risks and reduce losses.
When choosing an insurance product, first, clarify the characteristics of the goods. Fragile goods, perishable goods, etc., have different requirements for the scope of insurance coverage. Second, consider the transportation route. If it passes through high-risk areas such as regions with frequent severe weather or areas where pirates are active, choose insurance that covers the corresponding risks. Third, understand the mode of transportation. The insurance clauses for sea, land, and air transportation are different.
Common insurance products include ocean cargo transportation insurance and overland cargo transportation insurance. Professional platforms such as Zhongshitong can provide a variety of insurance plans, and you can choose according to your own needs.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
Transit trade can be insured. When choosing an insurance product, it depends on the provisions of the trade contract. Choose an insurance that complies with the contract requirements, which will cause less trouble during the claim settlement process.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
Of course, it can be insured. Consult an insurance company, inform them of the transit trade situation, and they will recommend suitable products. FPA and WPA are common.
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
Transit trade can be insured. Pay attention to the scope of insurance liability, clarify what is compensated and what is not, and avoid disputes during claim settlement.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
It can be insured. Compare products from different insurance companies, look at the protection content, premium rates, etc., and choose the one with high cost-effectiveness.
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
It can be insured. Focus on the exclusion clauses of the insurance and understand under what circumstances the insurance company will not bear the liability for compensation.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Transit trade can be insured. Consider the length of the transportation time. If it is long, choose a product with a suitable guarantee period to avoid a break in coverage.
James LiuYears of service：10Customer Rating：5.0
Foreign trade tax refund consultantConsult
Sure it can be insured. Pay attention to the claim settlement service of the insurance company. Choose one with a fast claim settlement and a good reputation, which will be more worry-free during claim settlement.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
Transit trade can be insured. Select the insurance amount according to the value of the goods. If the insurance amount is too high, it will waste the premium; if it is too low, it cannot provide full compensation.
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
It can be insured. Pay attention to the insurance's place of commencement and termination, which should correspond to the starting and ending points of the transit trade transportation route.