CargoInsurance.com http://www.cargoinsurance.com All Your Cargo Insurance Needs in One Place! Mon, 22 Nov 2010 21:39:26 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 Common cargo insurance misconceptions http://www.cargoinsurance.com/common-cargo-insurance-misconceptions/ http://www.cargoinsurance.com/common-cargo-insurance-misconceptions/#comments Fri, 05 Nov 2010 16:49:39 +0000 insurancegroup http://www.cargoinsurance.com/?p=411 People who are new in the business of transporting cargo, might have different perceptions about cargo insurance. We noticed two main misconceptions when dealing with the specific terms:

-Who is responsible for a specific type of loss?

-How much of the coverage is paid by the insurance companies?

Regarding the first question, the shipper sending the product to a specific destination, often assumes that the carrier is responsible for transporting the product in perfect conditions, or compensate if the product is somehow damaged.

However, the fact is that carriers cannot be held responsible for any damage or loss incurred by natural disasters. Natural disasters are unpredictable and, although they don’t happen all the time, the fact is that your goods could get damaged or wet on board. Owners and shippers have to make sure that the consignments are packed well, but also need to buy adequate cargo insurance coverage customized for coverage in case of the unexpected happens.

Relying on the coverage offered by the carrier or the supplier is not enough. Obtaining a separate cargo insurance gives the owner control on the type and amount of protection .

-How much of the loss is paid by the insurance company?

Shippers themselves are liable if the cargo is stolen or mishandled. Generally, the carriers typically limit their liability and compensation for the stolen or damaged goods. The coverage that carriers normally offer, are not enough to pay for  replacement.

According to the bill of landing and the tariffs, the carrier may limit their liability to a very minimum amount. So, it is advisable for the shippers to purchase their own cargo insurance coverage rather than taking a chance of incurring big losses. By factoring in cargo insurance into the total cost, shippers can take control and and limit the risks. Find out how www.cargoinsurance.com can help you get a great quote.

]]> http://www.cargoinsurance.com/common-cargo-insurance-misconceptions/feed/ 0 Tips for shipping fragile goods http://www.cargoinsurance.com/tips-shipping-fragile-goods/ http://www.cargoinsurance.com/tips-shipping-fragile-goods/#comments Mon, 04 Oct 2010 21:36:58 +0000 insurancegroup http://www.cargoinsurance.com/?p=356 People shipping antique, artworks, or luxurious items that may cost thousands of dollars, might discover that the container holding the goods was damaged due to rough handling or accidents. The thought itself is enough to create anxiety among shippers. However, there are other options for moving consignment. This article presents some ideas for shipping fragile items.

First, before choosing the type of shipping, consider the value and the weight of the consignment. A standard postal method is best for sending small items that are worth not more than $100, but if you are thinking of moving a heavier objects, say that more than 40lbs or worth more than $100, then choose an alternate shipping method like trucking service or overnight delivery services.

Packing is the most important part of shipping, especially when mailing delicate items. Make sure to wrap the item well and secure it with a tape. It is better to use extra padding, such as shredded paper, hay or foam. In addition, use a box approximate to the size and shape. Do not send the merchandise out in an excessively larger container to prevent the goods from moving and hitting against each other or the container’s wall. One way of better protecting the merchandise, is to place the package inside a bigger box to double the protection. Make sure the box is well sealed and use a “Fragile” label to avoid mishandling.

Last and most importantly, carefully choose a cargo insurance that covers the shipped item for its true value. Request information from CargoInsurance.com to get a cargo insurance that serves your purpose.

Move your expensive items anywhere in the world with the assurance that they are completely covered and protected

]]> http://www.cargoinsurance.com/tips-shipping-fragile-goods/feed/ 0 U.S. Embassies and Consulates http://www.cargoinsurance.com/embassies-consulates/ http://www.cargoinsurance.com/embassies-consulates/#comments Wed, 29 Sep 2010 12:48:48 +0000 insurancegroup http://www.cargoinsurance.com/?p=328

Websites of some of the U.S. Embassies and Consulates arond the world

AFRICA

 

THE AMERICAS

 

EAST ASIA AND PACIFIC

 

EUROPE AND EURASIA

 

MIDDLE EAST AND NORTH AFRICA

 

CENTRAL AND SOUTH ASIA

  ]]> http://www.cargoinsurance.com/embassies-consulates/feed/ 0 How to get coverage for the true value of your shipment? http://www.cargoinsurance.com/get-coverage-true-value-shipment/ http://www.cargoinsurance.com/get-coverage-true-value-shipment/#comments Sun, 12 Sep 2010 07:41:04 +0000 insurancegroup http://www.cargoinsurance.com/?p=318 Cargo transition is a challenging task and finding the right cargo insurance for it is not that simple. Generally, insurance providers offer coverage based on the weight of the goods and not on the actual value of your cargo. This can be a cause of stress while you transit household goods. Expensive crystal glass items, even though weigh less, are often very expensive.

Cargoinsurance.com has done the research and will connect you with cargo insurance companies that offer complete replacement value. These specialized insurance will offer more protection than regular Contingent Coverage. A Primary Insurance Coverage is exactly what is required to insure items for its true value.

Most Insurance companies that offer Contingent Coverage don’t pay much for damages to goods transited by land, pay limited amount of coverage for sea shipments, and items transported by air are insured by kilograms. At the end of the day, the policy holder might not be getting back the true value of the goods shipped. Obviously, a higher coverage can be chosen, but even paying for more coverage doesn’t guarantee compensation for the loss of the priciest items.

The Primary Insurance Coverage compensates for the actual value of the lost goods. This type of insurance covers almost all items traveling by land, air or sea, whichever destination they are traveling to or coming from, and even if they are regarded as high risk. The Primary Insurance coverage even overrides the carrier’s responsibility regardless of the terms and conditions.

Generally, Primary Cargo Insurance can be obtained through direct dealing with top rated insurance companies. These insurance companies have been rated by the insurance experts for their financial integrity, the way they meet their obligations and make payment for the claims. These insurance providers have underwriters specialized in dealing with cargo and the risk involved in cargo shipment even in case of total loss due to war or strikes.

The holders of the Primary Cargo Insurance can afford to relax as the insurance provider is able to repay for any amount of claim.

Request our online cargo insurance quote to get coverage for the true value of your cargo.

]]> http://www.cargoinsurance.com/get-coverage-true-value-shipment/feed/ 0 Even the ‘bad guys’ need to have cargo insurance http://www.cargoinsurance.com/even-the-bad-guys-need-to-have-cargo-insurance/ http://www.cargoinsurance.com/even-the-bad-guys-need-to-have-cargo-insurance/#comments Thu, 05 Aug 2010 20:19:32 +0000 admin2 http://www.cargoinsurance.com/?p=301 The United Nations Security Council imposed wide financial sanctions on Iran. In order to push Iran to stop enriching uranium, the UN and the US requested that international financial institutions stop issuing cargo insurance for Iranian ships suspected of carrying weapons parts.

In order to prevent trading problems with the US and extensive paperwork, some of the most important cargo insurance companies from the West have been denying cargo insurance coverage to Iran, thus crippling its ability to ship and receive vital cargo. The sanctions penalize foreign companies that sell fuel and oil products to Tehran, so shipping companies and ports worldwide have been slowly reducing trading with Iran.  If companies deny cargo insurance coverage to ships carrying equipment, oil,  and other supplies, Iranian ships won’t be able to sail. According to Mohammad Rounaghi, deputy manager of Sea Pars, “Basically, most ports will refuse them entry if they are not covered for possible damages.”

Furthermore, in order to comply with the U.S. sanctions, Lloyd’s  and other important cargo insurers announced they won’t continue insuring  gasoline imports to Iran. Fuel suppliers in Europe and the Middle East are also stopping supplying gasoline for Iranian airplanes. BP also voided an agreement to supply fuel to Iran Air in Germany.

Under the new rules, shipping companies are also responsible for inspecting their transport and have to prove to the United States government that they were effectively inspected the cargo to make sure there are no ban products.  This will add a lot of work and paperwork to the transactions.

However, India and Russia declared they will continue negotiating with the Islamic republic.

Although the import of material has increased by 50 % in Iran, local business people worry about the future of trading with Iran. With the new shipping and tracking technology, it is more difficult to dodge the UN watch. The question is, how will goods and machinery get to Iran, and how will oil be shipped out if there are no ships?

Original Article By Thomas Erdbrink and Colum Lynch
Washington Post Foreign Service
July, 2010

]]> http://www.cargoinsurance.com/even-the-bad-guys-need-to-have-cargo-insurance/feed/ 0 Cargo Insurance: Things to Know http://www.cargoinsurance.com/cargo-insurance/ http://www.cargoinsurance.com/cargo-insurance/#comments Tue, 01 Jun 2010 13:43:55 +0000 insurancegroup http://www.cargoinsurance.com/?p=227 Cargo insurance is needed because cargo in transit means cargo at risk. There are many insurance options for shippers seeking to protect their cargo against loss or damage, whether by accident, natural disaster, theft, war, mishandling, or spoilage.

  • The broadest form of cargo insurance coverage is called an “all-risk” policy. An all-risk policy insures approved general merchandise in the event of physical loss or damage from any external cause. Such policies cover new packaged goods to loss from breakage, pilferage, or damage to the goods themselves. However, shippers should be aware that there are numerous exclusions. These exclusions exist even to “all-risk” cargo insurance. Some of these exclusions include improper packing, abandonment of cargo, rejection of goods by customs, and losses caused by temperature or pressure changes. (as sometimes occurs in air shipments)
  • “Free of particular average” (FPA) coverage is limited coverage that usually applies to used merchandise, waste materials, and goods shipped that are subject to an on-deck bill of lading. It covers partial and total losses due to the sinking, stranding, burning, or collision of the vessels due to catastrophes on shore such as earthquake, derailment, pier collapse, fire, etc.
  • “With average” (WA) coverage extends FPA coverage to include the peril of bad weather. Both FPA and WA cargo insurance can also be extended to include theft and non-delivery.
  • “Warehouse to warehouse” protection insures goods from the time they leave the shipper’s warehouse until they reach the consignee’s warehouse, provided they are not removed from the normal course of transit by the insured. Shippers should beware that there are exceptions. They need to understand when in the shipping timeline a particular policy takes effect and when in the timeline such coverage ceases.
  • “Condition of average” (also called under insurance) is the term used when calculating a payout against a claim where the policy undervalues the sum insured. The history of average clauses began with cargo insurance. If part of a cargo shipment had to be thrown overboard during severe weather to save the ship, the owners of the remaining cargo would jointly and proportionately make good on the loss to the owner of the jettisoned cargo. This is commonly referred to as the “law of general average.” In the event of partial loss of a shipment, the amount paid against a claim will be in the same proportion as the value of the underinsurance. Under this system, the amount of the payout is equal to the claim amount x the sum insured / current value.

Scan your cargo policy quote carefully before choosing the best type of coverage for your goods. We hope that with this information, making a decision about cargo insurance will be much simpler. Get the best quotes from cargoinsurance.com to save money while protecting your merchandise.

]]> http://www.cargoinsurance.com/cargo-insurance/feed/ 3 Cargo Insurance Information http://www.cargoinsurance.com/cargo-insurance-information/ http://www.cargoinsurance.com/cargo-insurance-information/#comments Sun, 30 May 2010 20:21:06 +0000 insurancegroup http://www.cargoinsurance.com/?p=176 Cargo Insurance – Information about what it is

Cargo insurance is an insurance policy that protects you in the event off damage or loss to your cargo while being transported. It is meant to reimburse you in the event your cargo is lost or damaged. The goods listed on a cargo insurance policy would be covered while being transported via air, sea or land. This would include parcel post handled by courier companies.

Coverage Options

These are your coverage options to consider:

  • Total loss cargo insurance – As the name indicates, this policy covers against total loss/catastrophe of entire shipment.
  • All Risk – this type of insurance protects you against damage to your goods from physical, external cause including partial damage, catastrophe and theft.

What is the right amount of cargo insurance to purchase?

Traditionally, the coverage needed is based on a simple equation. The standard is to cover the invoice costs including freight plus a certain percentage above to cover your estimated profit. Usually, this amount will range from 15%-25%. The policy limit is typically the biggest shipment expected with the added freight plus the percentage of advance added.

One of the nice things about these shipment protection is that it can be purchased on an “as needed-pay as you go” basis. This is because all shipments can be reported monthly to a company and then invoiced at the completion of that specific month.

The best way to receive competitively priced cargo insurance quotes is to fill out the the simple form on cargoinsurance.com. We’ll search for the best matching policy for your needs, and will contact you with customized information.  The price will be based on variables such as  country of origin and destination,  mode of transportation, type of container, and the type of merchandise being insured.  Request a quick  cargo insurance quote today.

]]> http://www.cargoinsurance.com/cargo-insurance-information/feed/ 0 CargoInsurance.com – helping you sleep better at night http://www.cargoinsurance.com/cargoinsurancecom-helping-sleep-night/ http://www.cargoinsurance.com/cargoinsurancecom-helping-sleep-night/#comments Sun, 30 May 2010 20:15:54 +0000 insurancegroup http://www.cargoinsurance.com/?p=172 CargoInsurance.com mission is to help you find the most cost efficient and reliable way to ship your cargo. By filling out our simple lead form, we connect you with cargo insurance professionals. They will be able to guide you on exactly how much cargo insurance you need.

We provide our users quotes from multiple insurance carriers and agents. Our partners can provide cargo insurance quotes on both domestic and international cargo shipping.

We hope this is the first of many times you visit CargoInsurance.com. Our goal will always be to help you find the best cargo insurance so you can sleep soundly at night knowing that your cargo is properly insured.

CargoInsurance.com- Worldwide Coverage

]]> http://www.cargoinsurance.com/cargoinsurancecom-helping-sleep-night/feed/ 0 Cargo Insurance Costs – Things to consider http://www.cargoinsurance.com/cargo-insurance-costs/ http://www.cargoinsurance.com/cargo-insurance-costs/#comments Sun, 30 May 2010 20:12:45 +0000 insurancegroup http://www.cargoinsurance.com/?p=169 Cargo Insurance Costs for shipping 100,000 car parts via ocean liner or 500,000 pencils via air obviously will be different. However, there are a few things regarding costs to consider when shipping your merchandise domestically or internationally.

First, what method of transportation will be used to ship? The choices are numerous and include air, rail, truck and boat. Deciding which will be used to ship your goods will be the first factor in determining your cargo shipping insurance

Second, the time of year. This is something to consider because much of the world has specific times of the year where bad weather could affect  shipments. Heavy snow, rain storms, hurricanes have all affected shipments in the past. For example, If your goods are loaded on a plane, having to divert to another airport due to snow means more gas is used and more manpower hours to get to its final destination.

If you are reading this article and live in the Unites States, it is easy to assume that because our transportation infrastructure is solid, this is the case throughout the world. Sadly, this is not the case. Many developing nations could have unsafe or poor transportation. Unpaved roads, poorly built loading docks and high risk to the safety of your cargo are realities in numerous countries. If this is the case, your cargo insurance costs will be higher. How high your cargo insurance premiums will be needs to be factored in when deciding the best way to ship your goods.

If you are an importer, it would be a smart decision to visit CargoInsurance.com to compare cargo insurance costs. Because cargo shipments can be very costly to ship, it is best to contact an experienced and reputable freight forwarder. And because the cost of cargo insurance can wary greatly, it is best to visit CargoInsurance.com and select the best insurance company to do business with.

]]> http://www.cargoinsurance.com/cargo-insurance-costs/feed/ 0 Consider These Points When Buying a Used Container http://www.cargoinsurance.com/points-buying-container/ http://www.cargoinsurance.com/points-buying-container/#comments Sun, 30 May 2010 20:09:57 +0000 insurancegroup http://www.cargoinsurance.com/?p=164 Like virtually anything you buy in life, if it is new it usually costs more. This is the case when purchasing a cargo shipping container. You can save a lot of money on your cargo shipments expenses by considering the purchase of a used shipping container. The better condition the cargo container is in, the more expensive a used one will cost.

It is important to keep these things in mind before purchasing a used container:

  • Not all containers are created equally- If you are shipping cargo by sea, you must make sure that the container you purchase is sea worthy and meets all international standards. Some containers are built to be transported on land and cannot stand up to the rigors of sea travel. A cargo shipment container that will be used on the sea must be waterproof and weather proof. Weatherproof is defined as being able to withstand the wind, movements and onslaught of all elements that are possible in the middle of the ocean.
  • The doors- Make sure that you carefully examine the strength of the doors. Specifically, make sure that the locking mechanisms on the doors and the levers function correctly and appear secure. If you plan on replacing the doors with new ones, keep this expense in mind when determining whether purchasing a new or used cargo shipping container makes sense.
  • The interior- Quite often, cargo containers have floors made of plywood. Over the lifetime of a container, these floors can be battered by rigors of sea travel. Also, make sure that there are no signs of animal or insect problems. It is possible that the container you buy may have been inactive for a period of time. This could cause unwelcome visitors to find a home in your container. It makes sense to have your shipping container de-loused by quarantine authorities.
  • The exterior- It is critically important that your cargo be shipped in a container that is rust-free. Examine both the inside and outside of the container. Look carefully as it is easy to miss signs of rust particularly near the top or bottom of the container. Quite often, rust will develop in the seams at the corners where tiny air holes remain from when the container was welded together.

Whether you ship your cargo in a new or used container, visit CargoInsurance.com to find the best rates on cargo insurance.

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