September 14, 2007, Newsletter Issue #80: Insuring Your Freight Shipment?

Tip of the Week

Licensed freight carriers are required to carry insurance on the goods they ship, but this insurance can be as little as 10 cents a pound. (The exception is some "factory new and factory packed" items, which carriers will insure for up to $25 a pound.)

To protect yourself from losses if your shipment is lost, stolen or damaged in transit, you may wish to consider purchasing extra insurance.

First, however, consult your insurance agent. Your business coverage or homeowner's policy may already cover the sort of shipment you have in mind. In some cases, your credit card company may also insure goods in transit.

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