The construction of fourth generation (4G) roads in Colombia, foresees an important growth in freight transport, since more than 8,000 kilometers of roads will be built in the coming years. For this reason, it is important that you know the differences between freight transport insurance and freight transporter insurance.

When we talk about "freight transport insurance" we can refer to two classes Policies: Transport Insurance of Goods and Third-Party Liability Policy for the material being transported.

Freight transport insurance:

Transport insurance arises from the need to protect the patrimonial damage of cargo generators caused by total or partial loss of their assets. This Policy allows the owner of a good to transfer the risk that his merchandise is damaged, lost, or stolen during transport.

Insurance for cargo transporter:

It is a Contractual Civil Liability policy, whose objective is to support the insured against the possible breach of the contractual obligations agreed with the generator or owner of the merchandise. This policy provides coverage to the owners in case the carrier damages or loses the merchandise.

Juan Mario Acevedo, president of Correcol, specialist in Risks and Maritime Insurance at the College of Insurance in New York, with close to 40 years of experience in the insurance sector, points out that this type of insurance is important for the proper functioning of cargo companies and transportation on the country's roads.

Carlos Correal Millán
Organizational Communicator
Office: (051) 5300053 Ext. 2208
3144210419
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