Cargo Insurance

Description

About voluntary insurance of cargoes

The purpose of insurance of foreign trade goods is to cover losses that may result from the partial loss. Damage or total loss of goods when delivered from the Shipper to the Consignee.

The insurance contract is concluded

On the basis of the current international and Ukrainian legislation on the carriage of goods by any transport on international routes and in intermediate warehouse storage, as well as the generally accepted conditions of Incoterms.
Thus, the rules of insurance of cargoes in international and domestic traffic provide for three types of insurance:
“With Responsibility for All Risks”. This insurance policy is the most complete. Refunds are subject

• to all losses from damage or total loss of all or part of the insured cargo
• all necessary and expedient expenses for the salvage and preservation of the cargo.

“With Responsibility for All Risks” covers the coverage of “general accident losses”.
“With Responsibility for a Partial Accident”. Under this condition, the Insurer shall compensate for losses caused by certain causes, in particular:

• losses from damage or total loss of all or part of the cargo due to fire,
• lightning,
• storms or other natural disasters,
• vehicle accidents,
• the collapse of bridges,
• explosion,
• the disappearance of the vehicle without news,
• accidents during loading
•  unloading from a vehicle

“Without liability for damages, except for accidents” with limited insurance coverage.
For insurance, cargo of any group is accepted: industrial; foodstuffs; consumer goods, medicines, and others.

The agreement operates

On the territory of Ukraine, members of the Green Card system, CIS countries, and other countries of the world.

Sum insured

On the basis of the invoice value of the cargo with the possible inclusion of the sum of transport expenses, customs payments and lost profits.

Insurance rate

depends on the type of cargo, the vehicle that transports it, the territory of transportation, the selected risks. So, with full insurance coverage, the tariff is:

•  domestic traffic from 0.2% of the sum insured
•  multimodal transport from 0,25% of the sum insured
•  air transportation from 0,26% of the sum insured.

So, you can conclude both the General Contract for the insurance of a number of transportations, as well as the contract for insurance of one-time transportation.