Your bank will prefer it. In reality, the carrier provides not true insurance but merely protection against losses for which the carrier may be held legally liable. Acts of God, fire and error in navigation are common examples. When liability is not excused, coverage might be as little as a few hundred dollars per package or a few dollars per pound of shipped weight. In such cases the exporter has no recourse.
Problems can flare up overnight and can even affect shipments just passing by.
This is low-cost protection against potentially devastating loss. Behind every successful product is the template that created it. For many manufacturers, this template is in the form of a pattern, mold or die. These valuable assets often travel to other destinations during the manufacturing process. Contact your independent agent for more information.