Cargo Insurance2024-02-20T15:48:01+00:00

CARGO INSURANCE

We insure cargo for 100% of the
shipment CIF value –

then, add 10% more, just in case.

 

END-TO-END COVERAGE

TERMS OF SALE FULFILLMENT

SINGLE POINT-OF-CONTACT

EXPEDITING CLAIMS HANDLING

NO ANNUAL MINIMUM DEPOSIT

A++ RATED INSURANCE COMPANY

CARGO INSURANCE

We insure cargo for 100% of the
shipment CIF value –

then, add 10% more, just in case.

 

END-TO-END COVERAGE

TERMS OF SALE FULFILLMENT

SINGLE POINT-OF-CONTACT

EXPEDITING CLAIMS HANDLING

NO ANNUAL MINIMUM DEPOSIT

A++ RATED INSURANCE COMPANY

+

+

10%

Commercial
Invoice

Freight Costs

Additional
Coverage

110% INSURED VALUE

110% INSURED VALUE

Commercial
Invoice

+

Freight Costs

+

10%

Additional
Coverage

110% INSURED VALUE

110% INSURED VALUE

Why should I pay for it? If something happens, the carrier is obligated to cover my losses.

Legally, both international and domestic carriers must hold a minimum amount of liability coverage – unfortunately, this is usually insufficient for the full extent of a potential loss.

And much like due process, carriers are only liable if the claimant can prove negligence, making filing a long, burdensome process.

Why should I pay for it? If something happens, the carrier is obligated to cover my losses.

Legally, both international and domestic carriers must hold a minimum amount of liability coverage – unfortunately, this is usually insufficient for the full extent of a potential loss.

And much like due process, carriers are only liable if the claimant can prove negligence, making filing a long, burdensome process.

BE CAREFUL!  TYPICAL CARRIER COVERAGE IS LIMITED!

International
Airfreight

Based on Montreal
Convention of 19SDR

Ocean
Shipping

$500 USD per Freight
Unit for Loss While on or
Loading/Unloading Vessel

Less-Than-
Truckload (LTL)
Trucking

$15 USD – $25 USD
Per Pound

Full Container
(FCL) Trucking

$100,000 USD
Per Truck

Domestic
Airfreight

$0.50 USD
Per Pound

Small Package
& Parcel

$100 USD
Per Package

Intermodal
Rail

$250,000 USD
Per Train

I’ve never had a loss and nothing will ever happen to my goods.

If you’ve never experienced a freight loss, we congratulate you!

Your goods may be less susceptible to loss than most, but statistically speaking, they are still at risk and ripe for the picking.

30% of losses in-transit are unavoidable.

Insurance companies can predict you will eventually have a loss due to the extreme rigors of transit, such as long voyages, extensive lifting, thieves, moving, shifting, loading, poor weather and piracy.

I buy CIF and/or sell CFR.

When purchasing under foreign CIF incoterms, shippers are bound to the stipulations of an overseas legal system, which typically favor domestic interests, and with insuring conditions that can vary wildly from U.S. Practices.

Is your supply chain and relationship with manufacturing strong enough to handle a lengthy financial case? Under CFR exports, the seller is still obligated to provide coverage for the inland transit to the port. If damage occurs, will the selected policy expeditiously cover enough of the loss to relieve cash flow?

I’ve never had a loss and nothing will ever happen to my goods.

If you’ve never experienced a freight loss, we congratulate you!

Your goods may be less susceptible to loss than most, but statistically speaking, they are still at risk and ripe for the picking.

30% of losses in-transit are unavoidable.

Insurance companies can predict you will eventually have a loss due to the extreme rigors of transit, such as long voyages, extensive lifting, thieves, moving, shifting, loading, poor weather and piracy.

I buy CIF and/or sell CFR.

When purchasing under foreign CIF incoterms, shippers are bound to the stipulations of an overseas legal system, which typically favor domestic interests, and with insuring conditions that can vary wildly from U.S. Practices.

Is your supply chain and relationship with manufacturing strong enough to handle a lengthy financial case? Under CFR exports, the seller is still obligated to provide coverage for the inland transit to the port. If damage occurs, will the selected policy expeditiously cover enough of the loss to relieve cash flow?

Learn about Incoterms2020® and how international contract terms impact your bottom line…

PLEASE ENTER YOUR EMAIL ADDRESS FOR ACCESS TO THIS GREEN PAPER

    Learn about Incoterms2020® and how international contract terms impact your bottom line…

    PLEASE ENTER YOUR EMAIL ADDRESS FOR ACCESS TO THIS GREEN PAPER

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