What Are the Key Differences Between Chubb and Travelers Cargo and Transit Insurance?
Ocean and Warehouse Risk Versus Inland Transit
Chubb and Travelers both underwrite cargo themselves, but they sell different modes. Chubb’s product is worldwide ocean cargo: international steamer and air, domestic U.S. and Canada transit, foreign inland movement, warehousing, barge, and war, strikes, riots and civil commotion. Travelers sells inland marine Cargo Pak or Cargo and Logistics Pak, covering a business’s property on its own vehicles or on a public or contract motor, rail or air carrier. [3] [6]
Who Each Carrier Names as Buyers
Chubb says it serves exporters, importers, manufacturers, logistics companies and shippers of unusual goods. Travelers splits its audience: transportation insurance for manufacturers, wholesalers, retailers and distributors, and cargo-and-logistics forms for motor carriers, freight forwarders, logistics providers, freight brokers and warehousemen. A buyer that both ships goods and hauls freight for others would be matching two different Travelers products against one Chubb ocean-cargo form. [3] [6]
Loss Control and How Agents Place the Risk
Chubb describes nearly 400 in-house risk engineers and a Risk Engineering Center for cargo loss prevention. Travelers describes an Inland Marine Network of risk-mitigation, claim and special-investigations specialists, more than 600 Risk Control consultants, and a Special Investigations Group that pursues recovery. New Chubb ocean-cargo business is submitted by an agent to the local Chubb mailbox; Travelers cargo is bought through a Travelers independent agent. Neither reviewed page publishes limits or deductibles. [3] [6]
What Should You Confirm in Chubb and Travelers Cargo and Transit Insurance Quotes?
- Ask whether the shipment path is ocean, warehouse and foreign inland (Chubb’s listed agreements) or owned-truck and public-carrier inland transit (Travelers’ transportation form). [3] [6]
- If you are a motor carrier or warehouse, ask Travelers whether the quote is Cargo Pak, Cargo and Logistics Pak, or the transportation policy for owned goods. [6]
- Confirm war, strikes and warehousing on a Chubb quote, and how Travelers treats storage if goods sit between hauls. [3] [6]
- Get written limits and deductibles from both; the reviewed pages do not publish them. [3] [6]