An Argument Against Gambling
An Argument Against Gambling
by sch43yt9824huilb

“We haven’t lost a container in ten years”.

That’s what we hear sometimes when prospects or clients decline insurance for their imported goods while in transit on the ocean. With a 20-footer averaging $25,000 to $50,000 (and often higher), some importers feel it’s cheaper to absorb that rare loss than to purchase a policy covering all shipments. Are you overdue for a loss?

“We get our coverage through our freight forwarder/ broker/shipper (circle one)”

Most importers who rely upon someone else’s policy to cover their goods end up paying way too much for this convenience. They end up insuring their costs only, and get no protection for their profit on the goods.

Don’t gamble – understand the risks and rewards

The more you ship, the greater the odds are of losing a box or two. The more you use someone else’s policy, the more you will pay to reduce your loss. If you sell $2,500,000 of imported goods, your own policy would start at as little as $3,750 for a year’s coverage. Ten years of insurance costs less than the average container. Sound rewarding?

Make sure your insurance works as hard as you do. The Marble, Stone and Tile Insurance Program was built for companies like yours. It can help protect all your assets through broader coverage with lower up-front costs, provide a better return on claims payments, and insure your profits, paying your sales price.

We also have competitive ideas for insuring Inventory, General Liability, Workers Comp, Vehicles, and all owned or leased property. Health, Life and 401(k) plans available, too.

Smart risk managers bet with the house, instead of using theirs as collateral. Need assistance? Call Marc Rosenkrantz of Schechner Lifson Corp.

4 Chatham Road
Summit, NJ 07901
800-475-0826 in NJ or 800-279-9360 (everywhere else)