Transportation Insurance Services
The changing life conditions in our era have led to an increase in certain activities. Moreover, it can be observed that there are other subcategories related to these new areas of activity. Transportation activities and processes associated with them, such as transportation insurance, serve as good examples for this situation.
Transportation insurance is known as one of the insurance types that provide significant assurances for individuals. In this type of insurance, various guarantees are provided from different angles against the possibility of any damage, destruction, or deterioration that may occur during the transportation of goods and belongings. The most important benefit of the existence of this insurance is that it offers the opportunity to take necessary precautions in advance against any risks that may arise during the transportation service.
Transportation processes involve a challenging series of stages, and various obstacles and unfavorable situations such as accidents can occur along the way. Some of the unfavorable situations that may occur during transportation and that can be included in transportation insurance are as follows:
- Accidents
- Theft
- Fire
- Natural disasters
- Various other unfavorable situations
- Types of Transportation Insurance
With the diversification of logistics services, new needs related to transportation activities have emerged, and in this context, the emergence of partial shipping services has become inevitable. Although partial shipping services are products of recent times, in some exceptional cases, it has not been possible to prevent some negative incidents.
Transportation insurance is generally examined under two main categories, and classification processes are carried out in line with the titles mentioned here. The two main titles encompassing insurance types are composed of the following names:
- Freight insurance
- Cargo insurance
Freight insurance is a type of insurance applied in certain specific situations during or after the transportation of products using different transportation methods. The transportation methods mentioned here include, in the most basic sense, road, air, sea, and rail transport. This type of insurance, called freight insurance, includes only the period during which the transportation process takes place.
Cargo insurance, although it operates within the same axis as freight insurance, can be seen to have some clear differences between these two main titles.
This insurance is known for its feature of preserving the owner of the product and differs from freight insurance in terms of protecting the product owner. Cargo insurance is provided to individuals in case the product being transported is damaged or destroyed during the activity. In addition, the loss of the product during the transportation from one location to another is one of the unwanted situations that can be encountered from time to time and is one of the first to come to mind.
Cargo insurance covers a wide range and provides benefits to individuals from different perspectives, including the loss or destruction of the product during transportation.
Insurance Principles in Transportation Services
When arranging insurance in full transportation services, certain fundamental points must be considered. Among the issues mentioned here, the following items can be listed:
- The value of the goods to be transported is considered one of the crucial factors when arranging insurance. Changes are made to the insurance based on the value of the product.
- Possible disruptions during the transportation process, which have an important share in determining transportation insurance, are important turning points in arranging insurance. It is inevitable that some changes will occur in insurance based on the probability of the occurrence of disruptions.
Principles to be Followed in Transportation Insurance
Individuals who want to get transportation insurance must sign certain documents. One of the documents mentioned here is the insurance policy, a document that contains crucial information. The information that can be learned through the insurance policy includes the following:
- The monetary value of the product to be transported
- The method of carrying out the transportation activity
- The articles covered by the insurance
- Determining compensation methods
- Names and general characteristics of the materials to be transported
Transportation insurance, both past and present, has once again proven its existence, especially when transportation is being carried out or as a result of the ongoing service in the field of transportation.