An estimated one hundred billion dollars of corporate funds has been lost as a result of traditional freight insurance programs. While these plans may appear to have your back, many possess extensive holes in their coverage when it comes to catastrophic events, and a cradle to grave policy, which includes CAT coverage is the best choice to ensure you are protected under all circumstances.
Why do You Need CAT coverage?
In recent years, the news has been flooded with stories about devastating natural disasters including floods, hurricanes, earthquakes and severe storms, and each could result in extensive damage to items both in your warehouse and in transit. However, normal insurance policies do not cover this damage. Additionally, as much of the world is experiencing unrest and civil war, your cargo is also not protected against terrorism or damage from conflict. These events can result in extensive damage to merchandise and result in extreme loss.
What is CAT Coverage?
While cargo and warehouse policies are important, they only protect against loss or damage resulting from the handling of property, and they do not cover disaster situations. CAT freight insurance programs will ensure that you are covered in the event of extensive losses resulting from a catastrophic event. Most of these plans will ensure that your merchandise is protected across the globe from whatever may come your way. Protect yourself with a comprehensive CAT policy.