Overseas Shipping Insurance
When it comes to Overseas Shipping Insurance the question of whether insuring you freight, the answer is not always a straight forward, but one thing is for sure, Insurance for your freight is never include on the cost of shipping,
Your cargo is probably worth much more than the cost of shipping it, and even though it is optional the cost of insurance should be considered as part of the cost of the shipment
So, to help you make a more inform decision below are some tips and pieces of information
There are a few factors you need to considers
· The total value of the goods shipped
· The shipping origin and destination
· The mode of transportation
· And more.
The cost of the insurance is always based on the amount you would like to insured your freight and the deductible you choose,
Types of Insurance
Total Loss which means that you can make a claim only if your cargo is considered a “total loss” which basically means you don’t get the cargo back, you just get a check
All Risk, basically means that you can make a claim when any item on the shipment brakes or gets damage. If you select this type of insurance you would be given a set amount of days after your freight arrives at the destination for you to inspect it and go through everything and if necessary file a claim for what’s missing or damage. Regardless of how many pieces are damage or missing, you can only make one claim.
If your goods are not insured, you cannot claim damages
Insurance is based on you insuring the entire shipping freight for what it would cost in order replace it new, at the port of destination.
You must keep list of the items on the shipment and their cost to replace them new at the port of destination.
We hope now you have a better understanding of Overseas Shipping Insurance and can make a better more inform decision, remember the information here is FYI only. if you have any other question regarding Overseas Shipping Insurance, don’t hesitate and give us a call or emails us today