Revolutionize 3PL Operations With This Liability Insurance Strategy

Real-World Examples and Cost Considerations

To illustrate the impact of liability insurance, consider a 3PL provider that recently faced a significant cargo loss due to a natural disaster. Without adequate transportation liability insurance, the company would have incurred substantial financial losses. However, their strategic insurance policy covered the damages, allowing them to recover quickly and maintain client trust. The cost of such insurance can vary, but on average, 3PL providers can expect to pay between $1,000 and $5,000 annually for basic coverage, depending on the size and scope of their operations².