It is extremely profitable to insure property interests during transportation process as insurance policy is guarantee of losses recovery that can appear at any moment of transportation. Cargo insurance frees from additional concerns since insurance events are single while uninsured cargoes often become the reason of business failure.
Addressing to specialist of “Avangard” company you will get necessary consultations and explanations on your questions. Knowledge of cargo insurance market allows our specialist to choose appropriate insurance company either with regard to price or risk covered.
There are several types of cargo insurance:
All risks responsibility.
Indemnified losses in that type of goods-in-transit insurance are losses by reason of almost any danger and transit accidents.
With responsibility for private accident
Cargo-in-transit insurance upon such program assumes indemnification of losses from damage or total loss of all cargo or its part occurred under natural disasters, crashes or collisions of vessels, airplanes and other carrier vehicles between each other, losses in result of vessel or plane missing. Also losses are indemnified in case of cargo damage or loss happened during loading, placing and offloading of the cargo.
Without responsibility for damages except crashing events.
In cargo insurance losses are indemnified in case of total loss of cargo or its part occurred under influence of natural disaster, vessel of airplane missing, accidents during loading, offloading and cargo damage if it is caused by crash or vessel collision, fire, explosion and etc.
Insurer is free from reimbursement if losses occurred by the following reasons:
Set-off, seizure of property, requisition, arrest, termination of cargo insured by the decree of government body;
Criminal intent and gross negligence from insured who performed cargo insurance in order to earn a profit by fraud;
Unsuitability of outer packing;
Impact of nuclear explosion, radiation or radioactive contamination;
Terrorist actions and unlawful actions, performed on political ground;
Cargo shortage when seal is not damaged even if happened due to event risk of which is insured.