Insurance
Cargo insurance is a type of insurance that must be carried out in the field of cargo transportation. The main purpose of this insurance is to cover possible costs and damages that occur in the event of various accidents and risks for cargo and goods during the transportation route.
Cargo insurance is used as an important tool in the transportation and logistics industry to protect cargo trust and prevent financial responsibilities caused by cargo damage. Barman Traber International Transportation Company is able to carry out insurance as well as transportation as the main item. This insurance includes several types of coverage, some of which can be mentioned as follows:
- Cargo insurance during transportation: This type of insurance includes coverage of damages caused by traffic accidents, road accidents, sea or air accidents, and other accidents during cargo transportation.
- Cargo loss and damage insurance: This type of insurance provides coverage for possible damage to cargo, including physical damage, damage caused by packaging defects, and accidents in the terminal and warehouses.
- Third party damage insurance: This type of insurance covers compensation for damages and related expenses in case of an accident that causes damage to a third party (other than the cargo carrier).
- cargo transportation insurance: this type of insurance covers the risks related to the process of loading, unloading and transportation of cargo and is one of the insurances that the owners of the transportation fleet usually take to protect their assets. Insurance services give you the assurance that it will compensate the damages caused by the transportation during the route.
The importance of cargo insurance in the international and domestic transportation of cargo, especially precious and damage-sensitive cargo. This insurance allows transport managers and owners to compensate for financial losses in the event of an accident and prevent damage to the reputation and ability to serve customers. For more information on international transportation and insurance, please call 09158186856.
Types of freight insurance (based on the origin of transportation):
1- Imported freight insurance:
The origin of the imported insurance policy is abroad and its destination is inside the country.
2- Export cargo insurance:
The origin of the export insurance policy is domestic and its destination is abroad.
3- Transit cargo insurance:
transit cargo insurance, whose origin and destination are outside the country and the cargo only passes through the country on the way of transportation, if it does not pass through the country, it is called non-transit insurance.
Domestic freight insurance:
The origin and destination are both inside the country, the insurance policy is subject to domestic laws and the damages caused by fire and accidents of the vehicle carrying the goods are covered. Also, if the insurer agrees to pay the additional insurance premium, risks such as total theft of cargo with The means of transportation, damages caused by unloading and loading, oil spillage, spillage, failure, damages caused to the goods due to proximity to other goods and floods or other risks can be added to the insurance policy coverage.
Types of freight insurance conditions or clauses:
Due to the existence of various risks along the way of transportation and specifying the obligations of the insurance company, a set of conditions or clauses at the international level has been designed as follows, which is accepted by all insurance companies around the world. According to the type of goods and the risks that may threaten their goods in the way of transportation, people can choose any of the following four modes or clauses. Also, according to the type of goods and the risks that threaten the goods during the transportation route, the respectable insurers can request their specific and desired risks from the insurer in addition to the standard clauses B and C. For example, requesting non-delivery coverage. delivery) in addition to standard clause C.
Insured risks
Insured risks in condition c are:
Fire, explosion, grounding of a ship, sinking, overturning or derailment of a land transportation vehicle, collision with foreign objects, unloading goods in an emergency lock, general loss, redemption and throwing goods into the sea, the insurer’s share of the general loss. and rescue costs.
> Insured risks in condition B are:
All risks insured under conditions C, including the risks of earthquake, volcano, lightning, goods falling into the sea from a ship, flooding from salt and fresh water as a result of sea, lake or river water entering the vessel, land vehicle, container and warehouse Goods and total loss of each complete package of goods during loading or unloading from the vessel.
> Insured risks in condition A are:
In this type of insurance, all risks that threaten the cargo during transportation are covered, except for the exceptions mentioned in the conditions.
- Insured risks in domestic freight insurance policies:
In this type of insurance, the risks of accidents, vehicle collision, and fire on the vehicle are usually insured.
With the agreement of the insurer and the policyholder, it is possible to insure the risks of loading and unloading, the cargo being thrown from the transport vehicle, theft, collision of the cargo with foreign objects, earthquake, flood, explosion and lightning.
Insurance policy exceptions
Exceptions with conditions C, B:
Intention of the insured, deficit and normal wear and tear of the goods, damage due to improper packaging, improper shipping, inherent defect, damage due to delay even if the delay is due to the occurrence of the insured risk, bankruptcy of ship owners, managers or lessors, actions Deliberate actions of persons, damage caused by weapons that work with atomic energy, unseaworthiness of warships, civil war, revolution, rebellion, seizure, confiscation, detention, mines, torpedoes or other underground weapons of war, strikes, work stoppages, riots Internal disturbances and acts of terrorism.
> Exceptions to the insurance policy with condition A:
The exceptions of the insurance policy with condition A are the same as the exceptions with conditions C, B, with the difference that in condition A “intentional acts of persons” are not among the exceptions.
> Exceptions to the domestic freight insurance policy:
Intention of the insured and his employees and representatives, corruption of cargo due to delay in transportation, war, civil war, uprising revolution, rebellion, strike, seizure, confiscation, confiscation of property, nuclear reactions, contamination related to radioactive nuclear radiation, transportation of materials Explosives, transporting metals and precious stones and antiques, money and documents and securities, works of art.
> Insurance period in conditions C, B, A:
The insurance starts from the moment of loading the goods at the origin specified in the insurance policy, it ends as soon as the goods are delivered to the final warehouse, or in the case of sea transportation, 60 days after the goods are unloaded from the ship. In the case of ground transportation, 60 days after the goods arrive at the border customs of the destination country. In the case of air transportation, it ends 30 days after the plane lands at the airport of the destination country, whichever happens earlier.
In the case of domestic transportation, 8 days after the goods arrive at the transportation institution at the destination or as soon as the goods arrive at the insured’s warehouse, whichever happens earlier.
Addendum
Types of extensions:
1- Supplement to increase or decrease the insured amount
2- Addendum to extend the validity period of the insurance policy
If for some reason the policyholder cannot clear the insured goods from customs within the periods mentioned in the insurance policy, before the expiration of the said period, he can request to extend the validity of the insurance policy, so the insurance validity period can be extended on the condition that the goods are sent to the specified destination first. is not included in the insurance policy, secondly, the request for renewal by the policyholder is before the expiration of the validity of the insurance policy.
3- Insurance cancellation addendum
4- Corrective addendum
The duty of the insurer to provide information to the insured
The insurer is obliged to provide all information about the transportation of goods, including the following:
Full product specifications.
The number of times the goods are shipped.
Specifications of the means of transportation (or means of transportation in case of combined transportation).
Maximum value of goods per shipment.
Date of movement of goods.
The price of each part of the insured shipment before or immediately after shipment.
Notify the insurer of the maximum value of the goods before the vehicle arrives at the destination.