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LSDefine

Simple English definitions for legal terms

cargo insurance

Read a random definition: plural majority

A quick definition of cargo insurance:

Cargo insurance is a type of insurance that protects businesses and individuals who transport goods. It covers damages that may occur during transportation, whether it's the fault of the policyholder or an outside shipping provider. The coverage can vary, but it can be very important because the cost of damages can be much higher than someone's legal liability. Cargo insurance can be purchased for different transportation methods like marine cargo, air freight, and ground transportation.

A more thorough explanation:

Cargo insurance, also known as shipping or freight insurance, is a type of insurance that provides coverage for goods that are damaged during transportation. This insurance is important for businesses and individuals who frequently transport goods.

The coverage provided by cargo insurance can vary greatly. Some policies may only cover a specific amount of damage, while others may be more extensive and cover third-party damages, such as environmental damage caused by cargo spills.

Examples of transportation methods that can be covered by cargo insurance include marine cargo, air freight, and ground transportation.

For instance, if a company ships a large quantity of goods by sea and the cargo is damaged during the voyage, the cargo insurance policy would cover the cost of the damage. Similarly, if a truck carrying goods is involved in an accident and the cargo is damaged, the cargo insurance policy would cover the cost of the damage.

Cargo insurance is important because even if someone else is legally liable for the damage, their liability may not cover the full cost of the cargo. By having cargo insurance, businesses and individuals can protect themselves from financial losses due to damaged goods during transportation.

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General chat about the legal profession.
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18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
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