It’s a staggering fact, but many ocean and air shipments are not properly insured – mainly because cargo insurance policies contain coverage exclusions.

Are all of your risks adequately covered? Are you buying the right policy for your imports or exports? Does your coverage include “all risks” of physical loss or damage and ‘warehouse-to-warehouse” protection? Are you aware of the General Average provisions in ocean shipping and the limits of liability all carriers use to protect themselves?

As your partner in trade, Trans Global Logistics can insure your cargo and make sure you have the right coverage. We reduce the hassles and paperwork associated with your policy by processing your insurance invoices, reconciling monthly reports and, if necessary, processing claims. Because we insure large volumes of cargo, we negotiate low rates and pass the savings on to you.

Working together we can design the right coverage for all of your shipments. Here are two basic types of cargo insurance:

An open cargo policy is a popular and practical policy for companies with repetitive shipments. With no expiration date, this policy automatically covers on a continuous basis all of your shipments detailed in the policy.

A special trip risk policy covers single shipments made on a sporadic or one- time-only basis. Coverage must be arranged prior to transit.

When buying CIF, your suppliers select the insurer and determine how much you will pay for insurance and the kind of coverage you receive. But if you specify FOB terms when you purchase, you can place and negotiate the cost of your own cargo insurance. More importantly, FOB or C&F terms enable you to use your own, far less costly, open cargo policy rather than the more expensive per-shipment insurance generally provided on CIF or C&I moves.

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