import bond insurance
You might be less informed about import bond insurance and the reasons why you might need it.

Do You Know Which Type of Bond Coverage You Need?

Transportation companies can require specialty insurance coverage such as import bond insurance. While your current liability broker could be familiar with this type of policy, you might have to consider contacting a broker who specializes in bond insurance. Not all commercial brokers handle this type of insurance so make sure you work with an agency that has experience in this market and familiar with the options available to you. When you import goods, whether you might only import merchandise occasionally during a year or perhaps weekly, an import bond could be required to avoid fines or delays with the merchandise. Two types of bonds are available depending on your business needs. You can either obtain a single-entry or continuous transaction bond. If you regularly engage in imported goods, then a continuous transaction bond could be more cost effective than a single use option. However, this is a matter to discuss with your broker. You might be less informed about import bond insurance and the reasons why you might need it. There are options such as the type of bond coverage you should get as well as the amount of coverage you might need. A broker who specializes in transportation and shipping coverage would be a good resource who could answer your questions.

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