Insurance

The majority of shipments reach their destination without damage or loss. Although every precaution is taken to fully protect items during shipment, the perils of international transit exist. This page contains general topics and helpful information concerning insurance coverage.

How Much?

Select the fields below & click Calculate to get a fast, free estimate.



Standard Carrier Liability

Steam Ship Liability - According to the International Maritime Regulations all shipments are automatically covered by a limited policy from the steamship line of up to $500 per shipping unit (each box, carton, skid, crate, etc) with a maximum of $1450 for the entire shipment. The coverage exists while your shipment is in possession of the steamship line. Steamship line's limited policy claims are to be directed to the steamship line. In case of damage or loss, recipient is to initiate the claim process at the destination Country Station.

Transit Insurance - By law, a licensed international freight forwarder has only 'limited liability' for loss or damage that is generally from 10-cents to 60 cents per pound per item, up to a maximum of $500.00.

Because the above limited liability offers little protection against loss or damage, we recommend cargo insurance at an additional cost. This policy protects against loss or damage to your goods while they are being transported. The policy is meant to indemnify you if there is any loss or damage to your cargo while it is being transported over sea, air and land.

Optional cargo Insurance

Optional transit Insurance is made available by professional forwarders at an additional cost to provide additional coverage of your cargo. This policy is an optional insurance policy taken up to protect against loss of or damage to your goods while they are being transported. The policy is meant to indemnify you if there is any loss or damage to your cargo while it is being transported over sea, air and land

The two types of insurance are as follows:

  1. All Risk Insurance is available for commercial cargo and personal effects that are professionally packed. This policy covers the cargo against damage from physical, external causes including partial damage, theft and catastrophe.
  2. Total loss Insurance is available for personal effects and household goods packed by the owner. The coverage is for total loss/catastrophe of the entire shipment. Partial damage or loss coverage is not provided under this policy.

If you choose to purchase one of the above insurance plans please note the following:

A Declared Value Inventory List (VIL) must be provided prior to shipping date. This is an itemized list of all the items you wish to insure and states the replacement value of each item. This inventory has nothing to do with your customs declaration inventory or for the items you are shipping. It is only used for insurance purposes. The total the amount of coverage must correspond with the total value indicated in your declared value inventory

An actual certificate of insurance is issued to the shipper.

Keep in mind there are certain restrictions, limitations, deductibles, and claim procedures that vary according to the underwriter.




Newsletter Signup
© 2009 all rights reserved by CNN International Shipping