Intersafetrade: cargo insurance from China

Insurance is a reliable guarantee of compensation for damage. Cost of the policy depends on several factors (type and amount of insurance, cargo features, etc.). The Intersafetrade company arranges insurance for its customers based on their wishes, value of the goods and other important factors.

Insurance of Chinese goods

For a start, it is worth clarifying one important point: cargo insurance when working on the Chinese market is considered a necessary condition. Insurance is issued for several reasons:

  • The policy is a mandatory document in the package for the passage of Chinese customs;
  • cargo insurance is provided by existing international standards (for all typical methods of cargo transportation);
  • The duration of stay of goods on the road, changing modes of transport, traveling through different climatic zones increase risks of goods loss or damage.

Insurance of cargo from China is a reliable guarantee of receiving compensation after the insured event. Any force majeure can be included in the policy: in the event of a situation stipulated in the contract, the client is paid the insurance amount in full. Despite the fact that cargo insurance is a necessity, our customers have a certain freedom of choice. This concerns the type of insurance, the amount of insurance payments. Information on typical policies will help Intersafetrade clients to choose the most appropriate one.

Types of insurance

Active development of international trade involves constant transportation of a variety of goods in large volumes by various transport. Therefore, insurance companies have developed certain rules for working with Chinese goods. They have developed standard contracts (with the inclusion of the most typical cases). Or work on individual conditions (if customers want to expand the scope of risks and receive insurance payments to the maximum extent).

Objects of insurance

There are three typical options for insurance of goods from China:

  • Any cargo + all types of transportation. Universal contract, which assumes that any goods (ordinary, dangerous, excise and fragile, valuable, oversized, etc.) will be insured for the duration of transportation by all modes of transport.
  • Shipping costs. All transportation and overhead costs associated with the transportation of Chinese goods are insured.
  • Estimated income. In addition to cargo insurance, a policy is issued that allows you to receive compensation if the profit from the sale of products in any country of the world has not been received.

Categories

When transporting goods from China, it is possible to choose the most appropriate insurance coverage:

  • minimum cargo insurance from China;
  • maximum with responsibility for any risks;
  • specifying risk areas (liability in case of any accidents, natural disasters, damage during the rescue of cargoes during operations, when missing, etc.);
  • with indication of particular cases (responsibility for storage risks, for private accidents, for damages in all cases except crash, etc.).

Protection period

Insurance at the time of transportation implies protection:

  • from the moment of receiving of goods at the point of departure;
  • during the entire period of transportation (including liability at the time of transfer from one mode of transport to another);
  • until the goods are received by the addressee (from the warehouse of our company).

Note: if further transportation to the addressee “to the door” is expected, the insurance is valid until the moment of receipt of the cargo. When transporting through TC, the transport company which is carrying out the delivery will be responsible for further safety. Its employees take goods after a thorough check, deliver to the customer and give out after a joint check of the condition of the cargo. If from the moment of the TC operation the goods were damaged, a shortage was revealed (partial or complete), the presentation was lost or any other insured event occurred, claims are made to the carrier. Payments will be made by TC. Our clients can contact Intersafetrade lawyers if they need help in obtaining compensation.

Benefits of Intersafetrade insurance

Our company has extensive experience in cargo transportation and work with leading insurance companies. Consultants select the best types of policies for clients taking into account:

  • value of cargo;
  • characteristics (fragility, danger, etc.);
  • type of transportation (railway, air, sea, as part of groupage cargo with container insurance);
  • volume (the amount of insurance is determined by weight).

The policy is chosen according to the wishes of the client and his requirements for the insurance object and category of insurance.

Insurance is a mutually beneficial option for the client and carrier, as it implies:

  • insurance of any object;
  • compensation in the event of an insured event in full;
  • round-the-clock protection of goods during transportation (carriage, downtime, overload);
  • favorable rates;
  • transparent contract terms;
  • minimization of risks;
  • ongoing monitoring and accountability to the client;
  • an individual approach to the selection of the policy;
  • quick settlement when an insured event occurs.

Risk management in the development of transport logistics is an additional guarantee of cargo safety. We take preventive measures to avoid losses during transportation and reduce cost of insurance. For example, additional packaging of fragile goods in our warehouse in China can prevent them from being damaged or eliminate the loss of presentation. Such factors are taken into account by insurance companies in the preparation of the contract. Intersafetrade employees are available 24 hours a day, work on weekends and holidays, and are always ready to answer any questions about cargo insurance from China.