PartnerShip Offers Freight Insurance to Decrease its Customers’ Shipping Risk (and Stress!)

11/04/2016 — PartnerShip

The LTL shipping industry has been reducing its shipment liability to the point where recovery for lost or damaged freight is pennies on the dollar. As recently as 15 years ago, carriers agreed to be liable for the full cost of any freight lost or damaged. But as their insurance costs increased, carriers began decreasing their liability to keep costs low. Today, it’s common to see liability restricted to $0.25 per lb. or even less.

In our relentless effort to help customers ship smarter and stay competitive, PartnerShip is now offering freight insurance. We’ve teamed up with Roanoke Trade (a division of Roanoke Insurance Group, Inc.) to offer coverage to shippers against physical loss or damage, providing them a better option than relying solely on a carrier’s liability coverage.

This high quality, competitively-priced and easily-managed freight insurance will pay to repair or replace the cargo regardless of if the carrier is found liable.

We’re logistics experts and our customers rely on us to help them safely and efficiently move their freight. LTL carriers want shippers to bear the risks of in-transit loss or damage, but freight insurance helps mitigate the risks inherent with the shipping process.

Benefits of freight insurance include:

·         Affordability. Minimum premiums as low as $20 per shipment

·         $0 deductible. Approved claims are paid from $1 (maximum liability of $100,000)

·         Claims typically paid within 30 days

·         Pays to repair or replace the cargo whether or not the carrier is found liable

Of course, some restrictions apply. Your PartnerShip account representative can give you a complete explanation of freight insurance from Roanoke Trade.

The shipping experts at PartnerShip are here to help you ship smarter and stay competitive. Contact us at 800-599-2902 or email sales@PartnerShip.com for more information about freight insurance.