Since I only ship Free on Board (FOB), do I really need insurance?
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As a shipper you still may have risk with respect to FOB shipments, including ensuring there is clarity around where the risk transfer point is, as well as what your customer’s expectations may be. It may still be beneficial to consider coverage even for FOB shipments.
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Related FAQs
Can Maersk assist me with cargo insurance for journeys through areas like the Bab el-Mandeb strait and the Red Sea? Doesn’t the shipping company have to cover my loss? How do I calculate the volume for my LCL cargo? How should an insured act in the event of a claim for loss or damage? I already have my own policy. Isn’t that enough? I only import Cost Insurance and Freight (CIF). Why would I need added insurance? Is a valued inventory list required? I’ve shipped hundreds of times and never had a loss. Why would I want to insure? Maersk offers cargo insurance. Do I need to buy own cargo insurance? What are the chances that anything will happen to my goods? What are the “Incoterms”?New to Maersk.com?
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