Cargo insurance

To underwrite cargo or not? YESThis is what we suggest but decision is yours.

The cargo should be insured at delivery (including loading-unloading works at Shipper’s and Consignee’s warehouses, during transit procedures in the airports etc.) and during storage at warehouse (stealing, flooding, fire, damage etc.).

Cargo deliveries by any means of transport are connected with risk of stealing, damage, loss of the cargo. On time cargo insurance will allow to protect your interests as well as cargo’s owner, to guarantee full or partial compensation of losses, happened due to damage of the cargo or its loss.

The object of insurance could be any type of cargo, delivered by all types of transport to any place of the world, transport or overhead charges, connected with transportation, expecting profit from goods selling at point of destination.

Terms of cargo insurance and insurance’s tariff depend on technical characteristics of the cargo and terms of its transportation, route, package, volume of delivery, type of transport, volume of insurance career, over loadings, shiftments and intermediate or temporary storage, insurance career’s losses , in other words the whole complex of services agreed by conducted contract for transportation.

The amount of the cargo includes real cost of cargo to which you can include your potential profit (but no more than 10% from the total amount of the cargo), as well as all overhead expenses on its delivery organization to the destination point.

Validity period of the insurance policy covers the whole period of transportation of the insured cargo from departure to destination point including period in transit or over loading if needed. If you wish you can get the policy with validity period of one quarter, six months or a year, if the transportation of cargoes is done periodically. Herewith the insurance is followed by issuing the general policy, that guarantee the insurance security for all required by the client and accepted for insurance cargoes. The insurance is supported by issuing of general policy that assures insurance protection for all required by the client and accepted for the delivery’s insurance.

Types of cargos insurance.

With responsibility for all risks – under cargo insurance contract with this condition agreed the insurance cases are recognized as loss, damage or spoiling of all goods or part of the insured cargo as well as all charges made for rescuing the insured cargo. Moreover charges connected with general accident are also a subject for refunding.

With responsibility for particular (individual) accident – under cargo insurance contract with this condition agreed the insurance cases are recognized as damage or spoiling of all goods or part of the insured cargo happened due to breakdown and crash with any outside object (as example: during railway transportation the accident such as running off the rails is considered as insurance case). The reason for insurance’s premium could be the damage of the insured cargo as a result of explosion in the vehicle or nearby to it, falling of the cargo during loading, unloading or packing, during vehicle’s fueling, different natural disasters. The last type of protection considers compensation of losses happened during accident with notice about percentage of the payment.

With limited responsibility – according to this clause of the contract the insurance policy holder is getting compensation from damages or full loss or partial loss of the cargo, happened due to any reason except for those which happened due to stealing, loss, larceny, abbrochment of full or partial cargo places.

Without responsibility for damages (except for the cases of crash) – the insurance policy holder gets refunding for the fully damaged cargo, happened due to any reason except for the separately agreed cases.

Insurance compensation payment is done in equivalent of directly caused damage including the charges for escaping and decreasing of loss after the insurance case but not higher then insurance’s amount that was stated for the delivery.

When insurance case takes place it is highly important to fulfill all the demands of the insurance policy. You have to inform the insurance company immediately (at least in 2-3 days after insurance case) about the case, by sending written claim for payment of compensation. The forwarding transport company has to send the written claim too. Any claim should be confirmed by the report of independent expert, which is required during consideration of issues regarding questions of compensation.

If you order this service with us – we will be the policy holder (we will make negotiations, conduct contract and pay the insurance bonus), and you will be defined in the contract as а вы будете указаны в договоре beneficiary party.

We work with insurance company many years. We have experience and knowledge in the sphere of cargo insurance. We have bonus programs for insurance. We have practical experience of payment under insurance cases, so by using our help you can be sure your goods will be in safe.

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