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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 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:
- 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.
- 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.