Thousands of cargo shipment from machinery, pharma equipment to bulk goods get transported through sea route every day across the globe. The loading and unloading also happen in a great number at the port and other premises every day. The cargo is exposed to a number of external factors and gets constantly shifted, compressed and jolted plus is exposed to outside different weather conditions and humidity.
Packing plays a critical role in marine cargo insurance and ensures that you have good protection and efficiency. Packing is one of the major reasons which affects the insurance premium. If the packing is done properly it will minimize the risk exposure and also help to maintain claim-free or good claim history. With good claim record, the negotiating power as a client with regards to premium will be higher and the insurance company will not hesitate to offer a more favorable premium for the marine cargo insurance policy.
The benefit of good packing not only results in low premium but also helps to prevent any penalty for delay of cargo delivery to the consignee due to goods being detained at the customs due to improper packing.
Hence proper packing ensures lower expenses in premium payment, the timely arrival of freight, increased profit for the business and an overall good reputation for the policyholder.
