Cargo insurance

Transportation – is a very important moment of purchase and sales transaction. During this time, the goods are no longer located by the seller, but did not fall into hands of the purchaser. In happens, that cargo disappear. According to statistics, the largest harm falls to the share of theft or shortage, as well as of damage in transit.

Any self-respecting entrepreneur, whether it be purchaser of seller, acquires pacification having an insurance policy to protect one’s finances.

What can be insured:

• any kinds of cargo, transported by all kinds of transport all over the world;
• transportation and overhead expenses, connected with transportation;
• expected sales income at point of destination, in accordance with conditions of INCOTERMS 2010.

From which events cargo can be insured:

Agreement of cargo insurance can be concluded on the basis of one of the following conditions:

1. All risks liability”.

Insured events are: damage, total loss or deprivation of the whole of a part of cargo, occurred on any reason, as well as:

• expenses and cargo\'s proportion of general average contribution;
• all necessary and expediently incurred expenses for salvage on cargo, as well as for decrease and establishment of the loss amount, if the loss is indemnified by the terms of insurance.

2. “Liability for particular average”.

Insured events are:

• damage, total loss or deprivation of the whole or a part of cargo, in consequence of fire, lightening, storm, whirlwind and other natural disasters, wrecks or collisions of ships, airplanes and other transportation means among themselves, or their hit against immovable or floating objects, running a ship aground, downfall of bridges, explosions, damage of vessel with ice, dampening with outboard water, as well as resulting from measures, taken for salvage of cargo or fire extinguishing;
• loss of cargo in consequence of disappearance of transportation means without a trace;
• damage, total loss or deprivation of the whole or a part of cargo, in consequence of accidents by loading, stowage, unloading of cargo and fueling of vessel;
• expenses and cargo\'s proportion of general average contribution;
• all necessary and expediently incurred expenses for salvage on cargo, as well as for decrease and establishment of the loss amount, if the loss is indemnified by the terms of insurance.

3. No liability for damages, except for wreck events.

Insured events are:

• adamage, total loss or deprivation of the whole or a part of cargo, in consequence of fire, lightening, storm, whirlwind and other natural disasters, wrecks or collisions of ships, airplanes and other transportation means among themselves, or their hit against immovable or floating objects, running a ship aground, downfall of bridges, explosions, damage of vessel with ice, dampening with outboard water, as well as resulting from measures, taken for salvage of cargo or fire extinguishing;
• loss of cargo in consequence of disappearance of transportation means without a trace;
• ctotal loss of the whole or a part of cargo, in consequence of accidents by loading, stowage, unloading of cargo and fueling of the vessel;
• damage of cargo resulting from wreck or collision of vessels, airplanes and other transportation means among themselves or with every immovable or floating object (including ice), running a vessel around, fire or explosion on the vessel, airplane or other transportation means;
• expenses and cargo\'s proportion of general average contribution;
• all necessary and expediently incurred expenses for salvage on cargo, as well as for decrease and establishment of the loss amount, if the loss is indemnified by the terms of insurance.

Period of insurance:

Period of insurance include the whole period of transportation from warehouse to warehouse, including reloading, transshipment and intermediate storage in points of reloadings and transshipments.

An agreement can be concluded both for one-time shipment and for multiple transportations, effected during long-run period.