Erase Financial Woes with Full Coverage Insurance
Blind faith is often the thing that you have to rely on most when shipping and storing your most important items. Once things are out of your hands, you have to trust that everything will get to its destination in one piece. But if you deal with the wrong logistics company that doesn’t offer you full coverage insurance, you could find that damages will lead to financial losses. Read on to learn what the main causes of insurance claims are and how purchasing full coverage insurance can help!
A recent report showed the top insurance claims filed due to damages incurred during transit or storage. The top reasons included:
- Traffic Accidents. According to the report, 16.1 percent of claims were filed after traffic accidents involving transit vehicles caused damages. Over the past five years, an estimated $68 million in claims was reported- that would put a serious dent in your logistics budget!
- Equipment Handling Accidents. These kinds of accidents often occur in loading dock and terminal areas, where heavy equipment used incorrectly can cause major problems. 13.2 percent of claims were due to this cause, giving a five-year total of $57 million.
- Theft contributes to inventory loss as well; physical theft coupled with cybercriminal activity led to a whopping $54 million in losses over the last five years, or 12.7 percent of all insurance claims.
- Fire Damage. Fire can lead to a large number of items being irreparably damaged in a matter of minutes. Fire damages account for 10.4 percent of claims, a $44 million total in losses.
- Cargo Packing. When cargo packing is done incorrectly, the consequences can be extensive. Your logistics handling experts should know how to properly pack your cargo to avoid the $41 million in losses incurred by this top freight claim.
By purchasing full coverage insurance, you can protect your company from an expensive insurance claim that would otherwise take a serious financial toll. Save yourself the money- and the hassle- by trusting in a reliable service like AFP Global Logistics.
AFP Global Logistics
For a customized logistics handling experience that places your needs above all else, AFP Global Logistics is the best and only choice! We provide a full range of shipping services including full coverage insurance and our 20-plus years in the business have given us the tools we need to tailor our logistic solutions to each and every individual customer. For more information or to start designing your own logistic solutions today, get in touch with AFP at 410.590.1234 (toll-free 800.274.9452), email us at email@example.com, or fill out our quick and easy contact form here!