Your leading ocean marine cargo insurance partner throughout your global supply chain.
How JGS Insurance Arranges Solutions for Every Stage if the Global Supply Chain.
At JGS Insurance, we’ll take a deep look at your company portfolio to evaluate the exact type of insurance coverage you need based on your industry and business profile. We aim to become the trusted, permanent partner you contact whenever you have a marine cargo insurance problem or unresolved need.
We can help you:
- Mitigate the risks of acquiring and shipping new assets
- Make educated decisions about import-export insurance
- Keep your coverage up to date as your business grows
- Minimize potential risks associated with your industry
JGS Insurance is more than just an insurance vendor. We are ocean cargo insurance advisors that our clients can rely on. We know all about ocean cargo insurance best practices, how they work, and how to make sure your marine cargo insurance policy fits your business’s needs.
About Ocean Cargo Insurance
Ocean cargo insurance protects your goods from the moment a shipping container leaves the port until it arrives at its destination. This subset of insurance provides some unique types of coverage specific to the marine shipping industry.
Who Needs Ocean Cargo Insurance?
Comprehensive ocean cargo insurance is a must for any company involved in marine shipping, including:
- Freight forwarding companies
- Logistics companies
- Any businesses that ship products over open seas
The Benefits of Ocean Cargo Insurance
Why do you need ocean cargo insurance? In simple words, your insurance policy provides financial coverage in situations no one likes to think about, such as the unexpected loss of cargo due to unforeseen circumstances.
More specifically, solid ocean cargo insurance provides:
- Wide protection on the transit and storage of goods shipped by sea
- Customized recovery programs for domestic and international losses
- Coverage for damage to goods that might occur during transit
- Comprehensive protection on goods in transit worldwide and in storage
Some business owners involved in shipping mistakenly assume that the carrier will reimburse them for damage or losses to cargo. However, the carriers’ liability is usually limited, and their insurance will not provide adequate coverage for losses. Furthermore, carriers may be exempt from liability under various circumstances.
The only way to ensure a reliable financial safety net for your business is to purchase an ocean cargo insurance policy that would provide adequate funding in a broad range of damage events.
What Does Marine Cargo Insurance Cover?
The exact coverage of marine cargo insurance would depend on your specific, customized policy. However, in many cases, ocean cargo insurance covers damages in situations like:
- Fires or explosions on board a vessel
- Stranding or sinking during cargo journeys
- Collision, derailment, or overturning
- Natural calamities like storms and earthquakes
- Washing overboard and jettisoning
- Damage that occurs while loading and unloading
In addition to the actual damage to cargo, marine cargo insurance usually covers costs such as forwarding expenses, survey fees, and costs of reconditioning.
However, keep in mind that many marine cargo insurance policies do not provide coverage for intentional damage, inappropriately packed cargo, normal wear and tear, and some unpredictable catastrophic situations like wars or civil riots.
What Happens When You Need to File an Ocean Cargo Insurance Claim?
The true value of your insurance policy comes to a test when you experience a loss. The Claims Advocacy team at JGS Insurance is here to support you in reporting a claim, mitigating damage, and negotiating the best possible settlement.
We are here to:
- Help you control costs, manage risk, and choose the best insurance policy for your business
- Leverage our unique tools and expertise to make the most of your insurance coverage
- Coordinate insurance services and handle your claim using best industry practices
- Proactively support you throughout your claim and until you reach an acceptable settlement
JGS Insurance has a stellar track record of finding the right insurance plan for each client. Our many years of experience, deep industry knowledge, and full dedication to answering your business needs combine to make us one of the best insurance providers across all 50 states.
Why Work with JGS for Ocean Freight Insurance?
If your business involves marine import and export, make sure your company has adequate ocean freight insurance to cope with unexpected losses. At JGS Insurance, your trusted insurance partner, we are here to help you create a safety net that will cover you in any scenario.
When you work with JGS Insurance, your business will benefit from:
JGS Insurance: Your Trusted Marine Cargo Insurance Partners Throughout Your Global Supply Chain
JGS Insurance provides the best marine cargo insurance coverage for clients in the global transport industry. Our professional expertise, uncompromising integrity, and passionate client advocacy have helped us become one of the leading ocean cargo insurance providers in the U.S.