What role does insurance law play in connection with the transportation of goods?
October 8, 2023 | 40,00 EUR | answered by Leonie Maier
Dear lawyer,
I am reaching out to you as I am an entrepreneur in the transportation and logistics sector and have some questions and uncertainties regarding insurance law.
The situation is as follows: My company regularly conducts goods transports and is exposed to various risks such as theft, damage, or loss of cargo. I am wondering what role insurance law plays in this context and what insurances are really necessary for my company to be protected in case of damage.
Currently, I have already taken out some insurances, such as transport insurance. However, I am not sure if this is sufficient and if I may need additional insurances to protect my company from financial losses. Additionally, I am unsure if I have considered all legal aspects in the event of a claim and if the insurance will actually pay out in case of an emergency.
My concerns stem from the fact that I do not have the necessary expertise in insurance law and fear that my company may not be adequately protected in case of damage. Therefore, I would like to know from you what role insurance law plays in the context of goods transportation and what specific steps I can take to optimize my insurances and best protect my company.
So my question to you is: What insurances are really necessary in the transportation and logistics sector, and how can I ensure that my company is optimally protected in case of damage? I look forward to your expert advice and thank you in advance for your support.
Best regards,
Thomas Hacker
Dear Mr. Hacker,
Thank you for your inquiry regarding insurance law in the transport and logistics sector. As a lawyer specializing in this field, I can understand your concerns and uncertainties well. It is important that your company is adequately insured to avoid financial losses in the event of damage.
Insurance plays a crucial role in the transport and logistics sector, as the risks your company faces are diverse. The most important insurance in this context is the transport insurance, which covers damages to the cargo during transport. This insurance is usually available in two variants: All-Risk insurance, which covers all risks unless explicitly excluded, and Named-Perils insurance, which only covers specific risks defined in the contract. It is advisable to take out an All-Risk insurance for comprehensive protection.
In addition to transport insurance, you should also have public liability insurance, which covers damages caused by your company to third parties. This insurance protects you from claims from customers, suppliers, or other affected parties that may arise due to your activities.
Furthermore, a carrier's liability insurance may be useful to cover liability risks related to the transport of goods. This insurance covers damages resulting from loss, damage, or theft of the cargo.
To ensure that your company is optimally insured, I recommend seeking comprehensive advice from an insurance expert. Together with you, they can analyze which insurances are truly necessary for your company and what additional protective measures can be taken.
It is also important to consider all legal aspects in the event of a claim and to be familiar with the conditions of your insurance policy. It is advisable to clarify with your insurer in advance what steps you must take in the event of a claim to ensure a smooth claims process.
In conclusion, I would like to emphasize that comprehensive insurance of your company in the transport and logistics sector is of great importance to minimize financial risks. I am available for further questions and individual consultation.
Best regards,
Leonie Maier
