Insurance: Why It Could Be Beneficial Even When You Are Already Insured

Accidents can happen, and having insurance for your exhibit property is a great way to manage risks.

General property and liability insurance protects your products, goods, and equipment on your business premises, while a specific all-risk cargo insurance policy for your exhibits insures your material specifically for trade shows. What happens if your trade show material is damaged or lost during transit? With the right coverage, all-risk cargo insurance can help offset the financial impact of lost or damaged material. That is why you should consider all-risk cargo insurance when shipping equipment or freight to trade shows and exhibitions.

Protect your assets

You may use your trade show material and booth display for many shows every year, but are you aware of the consequences of an accident during transportation to and from the event? Even though carriers may have legal liability for goods they transport, carrier liability is not the same as all-risk cargo insurance and may not cover the complete value of the shipment. Depending upon the mode of transport, the monetary liability of carriers can be limited and may be as little as:

In many cases, these amounts would not cover the replacement cost of your trade show material. By purchasing all-risk cargo insurance, you can transfer much of the financial risk of a covered loss or damage to the insurance company, subject to the terms and conditions of the policy. In addition, your company’s existing insurance deductible could be quite high and, even if you are insured, a high deductible can negatively impact your budget.

All-risk cargo insurance

Damage or loss of exhibition equipment can impact your company’s future sales and budget. To decide whether to purchase all-risk cargo insurance, consider the total value of your shipment, including what it would cost to repair or replace your trade show material. Your company may already have insurance, but it is important to understand whether that policy covers the material while it is in transit, while it is at the exhibition, and during the return shipment, as well as what deductible may apply.

All-risk cargo insurance can provide protection for your exhibition material from the time it is picked up at the warehouse, while onsite at the show, and during transit to and from the show until it is delivered back to your warehouse, subject to the terms, conditions and exclusions of the coverage. Proper packing is also important, as inadequate or insufficient packing may affect coverage for a loss.

For any questions, contact your TWI Representative at +1-702-691-9000.