What is Cargo Insurance?
Goods Transportation Insurance covers your goods against several risks which may be realized during their transportation from one point to another via various transport means. Besides, as an Insured, not only value of your goods, but also some of your additional expenditures such as freight, insurance fee, and estimated profit shall be covered.
This product assures your goods through below specified coverages.
Click here to download General Conditions of Traffic Floating Insurance..
Click here to download Goods Traffic Floating Insurance Information Form..
Coverages
Total Loss Coverage:
It provides coverage in case your goods totally lose their value with the vehicle transporting the goods for reasons specified in the policy.
Limited Coverage
It covers your losses incurred as a result of partial damages (as a result of vehicle hit, crash, overturn, and burn etc.) inflicted on your goods during transports of your goods via various means.
Extended Coverage
Extended Goods Traffic Insurance covers ALL RISKS generally regardless of the vehicle (Vessel, Truck, Train, and Plane).
Excluded Coverage
Illegal cases (such as illegal trade and commercial-in-confidence),
Damages arising from the goods (hidden defect),
Damages inflicted by inappropriate transport conditions, and deficient packaging,
Damages inflicted by willful misconduct of insured,
Damages originating from delay,
Radioactive contamination damages,
Other risks subject to optional coverage,
Damages inflicted by war and strike may be covered by optional rider as subject to additional fee.Goods Traffic Insurances are generally issued per service. In case those commodities, which insured is to import from or export to several countries at several times or to deliver within the country, are subject to a regular schedule, they may be covered through a contract (floating). This contract (FLOATING) provides coverage for your regular deliveries, as subject to fixed price limits and specified terms.