Operating a business in the transport and logistics industry comes with a number of unique risks. In some cases, you are not always liable for the loss or damage of goods and may be able to choose whether to accept or deny a claim based on the terms and conditions outlined in your consignment note, or because you believe there was no negligence on your part.
The option to pay or deny such claims falls under “goodwill” insurance policies.
What Is Goodwill Insurance?
Goodwill Insurance is designed to defend your terms and conditions of carriage and compensate for the loss or damage of your customers’ goods. It gives you the option to pay commercial settlements to your customers for the consequential loss or damage of their goods ‒ regardless of whether you were at fault or not.
There are a number of benefits of taking out Goodwill Insurance including a reduced risk of damaging your client relationships and a lower risk financial loss. It can also help you fast track the release of goods that are held up or detained. It’s also important to note that Goodwill Insurance is often a contractual requirement.
Get a Goodwill Insurance Quote with Truck Insurance HQ
Truck Insurance HQ is a leading transport insurance specialist for small, medium and large business. We offer a wide range of insurance solutions to meet your needs. Our brokers can do all of the investigating to get the right Carriers Goodwill Insurance for your business. Call us today on 1300 815 344 to get a tailored quote.
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