Cargo Insurance Policy Sample

Marine cargo cover cover for your customer s cargo that is lost or damaged in transit during the period of insurance.

Cargo insurance policy sample. Cargo insurance is covered under risk policy or floating policies. Duration of the risk of attaching from the time the goods leave the warehouse or another place of storage at the placement of the policy for the commencement of transit. Cover options accidental damage cover option 1 loss or damage to your customer s cargo resulting from an accident deliberate act of a. Cargo insurance as goods move across sea land or international borders tracking them becomes increasingly important and difficult.

Carrier will at its own expense obtain and keep in full force and effect during the term of this contract or any extension thereof cargo insurance on the full value of all cargo transported under this contract carrier may at its own risk elect to self insure the cargo. The cargo may be of any description for example wares merchandise property goods and so on. When a company approaches an insurance company or broker for insuring a particular consignment then it can fall under the category of specific cargo policies. What is a marine cargo open policy.

3 5 1 the causing occasioning or threatening of harm of whatever nature and by whatever means. This website uses cookies and you agree to our use of the same if you continue browsing. Page 4 of 8 3 5 terrorism terrorism means any act s of any person s or organisation s involving. Whether it s an individual shipment or an annual open cargo insurance policy including for goods in storage we have the solution.

For customs brokers and freight forwarders looking at adding a valued service to your business please register here or contact us about becoming an approved agent or to trial the qq system. Need a urgent quote click here. We provide a variety of policies tailored to the different needs such as open cargo policies or trip transit policies. Marine cargo insurance protects your cargo in transit over land sea and air.

Best a rated insurers for cargo insurance products. Insurecargo has access to over 15 a m. For example with globalization resulting in greater trade with developing countries the risk of theft or damage to goods in transit continues to rise. Cargo is insured up to the value stated in section 3 or the actual value of the cargo whichever is less.

4 incoterms explained 4 terms of sale 2010 incoterms 5 risk title 6 advantages of a marine cargo open policy 6 important marine cargo open policy terms 7 period of insurance 8 what risks can be covered 9 policy extensions 10 premiums 10 advantages of insuring in new zealand 11 incoterms types 12. These policies are also termed as voyage policies because only shipments are covered under them.