The importance of insuring

If you're moving goods to or from the UK, it's advisable to ensure there is adequate insurance cover. This manages the risk that goods may be lost, damaged or delayed because you can claim compensation if there's any resulting financial loss to your business.

Cargo insurance

A typical cargo insurance policy covers goods in transit via road, rail, sea or air. In its simplest form it provides cover against accidental damage and other risks. The other extreme is a comprehensive all-risk policy, covering a range of specified accidents - including damage during loading, theft and negligence.

The price of your insurance and in which circumstances you'll receive compensation will depend on:

* the value of the goods in transit
* the expiry date of the insurance policy
* whether the journey is domestic or international

Limited liability

Without insurance you have only the minimum protection for your goods because freight forwarders and carriers typically have limited liability in the event of loss, or damage or delay. This comes from internationally ratified conventions - see your bill of lading or sea waybill for details - and the standard trading conditions of transport associations.