Insurance For The Bulk
The transporting of bulk liquids is one of
the largest occupations in the world. Every day, seaports around
the globe are busy with the loading and unloading of liquid
cargo. Container ships will bring in the bulk liquids. From
there, the product is transferred onto trailers for land
What Are Bulk Liquids?
Bulk liquids are extremely large amounts of
any substance in liquid form. The name, bulk liquids, is used as
a shipping term meaning to transport a large amount of liquid
product from one place to another in specialized containers.
Bulk food liquids can include juices, wines,
cooking oils, perfumes and any other fluid substance. Another
type of bulk liquid can be chemical in nature. Chemical liquids
can be classified as non-hazardous or hazardous. Business owners
and large corporations who ship liquids in bulk need to take
precautions with their cargo. One of those precautions is
carrying insurance in case something goes wrong. Insurance is
also mandatory for shipping goods overseas.
Marine Insurance for Bulk Liquids
Shipping bulk liquids overseas requires specialised marine
insurance. The international trade follows a series of
guidelines called Incoterms. These guidelines clarify what the
responsibilities of shipping companies are when it comes to
legal transport of liquid cargo overseas.
Marine cargo insurance can provide coverage for the following:
• Damage from heavy weather, lightning and wind
• On deck fires, explosions and equipment failure
• Damage to goods under deck caused by stranding, sinking,
burning or collision
• Collision or contact with any object other than water. This
includes land, other ships, floating debris and ice
• Customs refusal
• Loss of profit from piracy or attack
All Risk Insurance Cover
International shipping of bulk liquids can be very financially
risky. Maritime accidents can happen at any time with no
warning. A solid insurance plan that covers all risks is the
best insurance coverage for bulk liquid transport. All risk
marine insurance can even extend coverage to include protection
from driver delivery accident, accidental damage to goods and
the replacement value of any product lost during shipment.
There are many types of accidents that can occur in this type of
business. Not only is the cargo at risk, the many workers who do
this type of job can also face dangers. Equipment failures,
accidents and explosions are a real concern when handling
hazardous bulk liquids.
The right type of insurance can cover a shipping company from
start to finish. Coverage is in effect anywhere in the world.
Marine insurance can provide coverage for all phases of bulk
transport. From container pick up at the distribution center to
unloading freight at the shipyard to delivery of the final order
to the merchant, an all risk insurance plan makes the most
Copyright Gary Norton Developments 2010