What does OCP mean? Transport companies deal with the transport of goods on behalf of individual customers. However, if we want the car and goods to be safe, then insurance may be necessary. Liability insurance has become increasingly popular recently.
How does the carrier’s liability insurance work? Who can opt for OCP insurance? What types of liability insurance can we distinguish? What guarantee does the OCP policy provide? What should we pay attention to before buying a policy? The answers to these questions can be found in the following article, which we cordially invite all interested readers to read.
Carrier’s liability insurance – how does it work?
Before we start any considerations about OCP, it is worth getting interested in what this insurance is. If we decided to define this concept, then we could say that it is an insurance policy that protects the carrier who decides to transport the goods. In a situation where the goods would not be delivered on time due to theft, damage or fire, then the injured person may claim compensation for the loss. It is worth mentioning that the policy applies from the moment the goods are accepted by the carrier until they are released to the recipient. After all, it is precisely during this period that all responsibility rests with the person who decided to transport. Thanks to the OCP policy, we can count on the fact that the compensation will be paid out of the money of the given insurance company. Interestingly, we can also cover failure to deliver the shipment on time. Of course, this is not mandatory insurance, so the final decision depends primarily on the carrier.
Who can opt for OCP insurance?
Now that we know what OCP means, it is now worth taking an interest in who can benefit from such a facility. First of all, it should be mentioned that this insurance was created primarily for transport companies, regardless of how big they are. Frequently, the carrier is entrusted with goods of relatively high value. Therefore, in the event of theft or damage during transport, a situation could arise in which the company would be on the verge of bankruptcy. If we would like to free ourselves from financial liability for the entrusted goods, then it is worth using the OCP insurance. Although the carrier is only a party to the OCT policy, in practice the client also benefits from it. He is aware that in the event of any damage he will receive compensation,
Types of OCP insurance – what can be distinguished?
Since we are aware of who can opt for insurance, as well as what OCP means, let’s think about the type of insurance. At this point, it is worth mentioning that insurance companies usually offer two types of OCP – in international traffic and in domestic traffic. The former is characterized by the fact that it is used by companies offering international transport. They follow the rules set out in the Convention on the Contract for the International Carriage of Goods by Road. In the case of insurance in domestic traffic – it is especially recommended to transport companies that have decided to operate only in Poland. In such cases, liability results from the Act on Transport Law. It is impossible not to mention that.
What guarantee does the OCP policy provide?
Many people are certainly wondering why the OCP policy is worth attention at all. What does it actually guarantee? It turns out that when we decide to buy an OCP policy, we transfer financial responsibility to the insurance company. Therefore, in the event of unreliable performance of the transport or non-performance, then the company can count on compensation adequate to the losses. In other words, the insurance is a guarantee of safety for both the transport company and the customers. That is why this policy is so popular, and customers ask for details before starting cooperation. Of course, the scope of protection may vary depending on the provisions contained in the contract.
What should we pay attention to before buying a policy?
It is worth realizing that OCP insurance is adapted to the needs of carriers. Depending on what goods are transported, as well as what routes are covered, we should pay attention to the duration of the insurance. In the vast majority of cases, it is 12 months, but there are regular situations where the contract is signed for a much longer period. The area of operation of the policy is also important – some countries may be on the list of exclusions. It is also worth finding out how many cars will be covered by insurance.