Whether you are buying or selling goods from or to the international market, there is always a risk that they may be delayed, damaged or lost in transit. It is well known that the last thing on your mind is the transport insurance. Here you have to be careful, that when booking a shipment, your goods are not automatically insured. We offer transport insurance on an individual consignment basis or continuous transport insurance. With the use of transport insurance and minimum additional charge per shipment, it gives you the coverage you need for your transportations.
The importance of insuring
If you’re moving goods to or from Cyprus, insurance cover safeguards against the risk that goods may be delayed, damaged or lost. In some cases you can claim compensation if there’s any resulting financial loss to your business.
Many events can occur during transit that could lose you money if you’re uninsured. For example, your haulier may be involved in an accident whereby your goods are destroyed, or your goods might be stolen. The result can be loss of profits, productivity and buyer goodwill. You can minimize the impact of such incidents on your business by being properly insured.
Limited liability: Without insurance you have only the minimum protection for your goods because freight forwarders and carriers typically have limited liability in the event of loss, or damage or delay. This comes from internationally ratified conventions – see your bill of lading or sea waybill for details – and the standard trading conditions of transport associations.
A typical cargo insurance policy covers goods in transit via road, rail, sea or air. In its simplest form it provides cover against accidental damage and other risks. The other extreme is a comprehensive all-risk policy, covering a range of specified accidents – including damage during loading, theft and negligence.
The cost of your insurance and in which circumstances you’ll receive compensation will depend on:
• The value of the goods in transit
• Whether the journey is domestic or international
- Institute Cargo Clauses A
- Institute Cargo Clauses B
- Institute Cargo Clauses C
- Institute Strikes Clauses Cargo
- Institute War Clauses Cargo
- Termination of Transit Clause Terrorism
- DTV-Cargo Insurance Conditions 2000-2008
- List with Approved cargos
- List with NON Approved cargos
We are happy to tell you more about our insurance, so please do not hesitate to contact us by phone or email for a quotation or further information