What is Air Freight Insurance?

What is Air Freight Insurance?

Nowadays, airplanes have become a familiar means of transportation and transporting goods for many people on long trips. Therefore, aviation transportation insurance has gradually become a priority product package for many companies and businesses.

Let’s explore this issue with World Courier in the following article.

What is Air Freight insurance?

Air Freight insurance is a type of policy that protects a buyer or seller of goods being transported through the air. It reimburses the insured for items that are damaged, destroyed or lost.

Companies and businesses operating in the field of airlines usually buy insurance. The goal of this is to solve all unwanted risks and losses during air transport. Air transport insurance coverage includes both people and goods.

This is a special type of insurance from insurance companies, each company will provide different products corresponding to specific insurance subjects and risks. Aviation insurance is widely sold on the market and often comes with services such as selling international and domestic air tickets.

Although airlines is considered safer than other means, when an incident occurs, the consequences can be dire. This explains why many people have chosen to buy Air Freight insurance as a way to protect people and goods against the risk of damage. Individuals and businesses can easily buy aviation insurance through aircraft agents nationwide.

Classification of Air Freight insurance

Air Freight insurance is especially concerned with protecting both people and goods. This has led to insurance companies developing many product packages to suit the diverse needs of customers and the nature of the goods. Currently, aviation insurance can be divided into the following types:

• Airline insurance: Purchased by airlines to protect their flights or charter flights to transport cargo.
• Material insurance: Focuses on protecting aircraft manufacturers, spare parts, air traffic control facilities, airports, ground service partners and maintenance and repair services during aircraft fueling and service.
• Passenger insurance: Provides insurance for all risks that may cause loss or damage to goods and lives of passengers on insured flights.

However, it should also be noted that there are cases that are not covered, including:

• Passengers intentionally damage or do not comply with packaging procedures.
• The goods do not meet the requirements or are at risk of normal leakage.
• Goods may lose weight, lose volume or naturally wear out.