Cargo Insurance
Pricing
Insurance that covers loss or damage to goods during transit. Distinct from carrier liability, which is the carrier's tariff-limited responsibility (often a per-pound amount far below the cargo's value); cargo insurance protects the declared value of the goods themselves.
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Bill of Lading (BOL)A legal document between the shipper and carrier that details the type, quantity, and destination of goods being carried.Concealed DamageLoss or damage to freight that isn't visible at delivery and is discovered only after the driver leaves — typically when the packaging is opened.Contingent Cargo InsuranceA backstop cargo policy held at the freight broker level that can pay a claim when the carrier's own cargo policy fails to.Declared ValueThe dollar value a shipper states for their freight, used to set carrier liability or purchase full-value coverage.HazmatHazardous materials that require special handling and documentation.OS&D (Over, Short, and Damaged)A report documenting discrepancies in freight deliveries including overages, shortages, or damages.Released ValueThe reduced per-pound liability a carrier's tariff assigns to freight in exchange for the base rate — the default when no higher value is declared or insured.