Insurance Terms
Insurance is based on standard international “all risks” terms with standard clauses or on “limited insurance” terms.
The insurance terms we suggest guarantee that your freight will be insured
- during transit storage at warehouses,
- transloading from one means of transport to another,
- as well as during loading at the consignor‘s warehouse and unloading at the consignee’s warehouse.
As a rule, the franchise, the share of losses not subject to repayment, is zero, as any losses, even minimal ones, will be fully compensated to you by our insurers.
The insurance beneficiary is any company you specify as the one that will incur losses in case the cargo is damaged. Usually, on our customers’ requests, we get the cargo insured without a specified insurance beneficiary (there is a “to order” note in the policy). In such cases, the insurance settlement goes to the company that incurred losses at the moment the cargo was damaged. The initial cargo insurance rate is 0.25% – 0.35% of the insured value of the cargo and may vary depending on the cargo value and the scope of freight forwarding. In a favorable development of our cooperation, we are ready to negotiate a reduction of the above-mentioned insurance rate.
Your cargo may be insured according to one of the following options: for the invoice value of the cargo, for 110% of the invoice value of the cargo, for the invoice value of the cargo + freight, for 110% of the invoice value of the cargo+ freight.
Apart from that, we are ready to have all transportations of the customer insured, even if they are carried out by different forwarders.
An additional advantage of insuring your freight with AsstrA is paying for an insurance policy after it becomes valid. Sending the policy (or the insurance confirmation) by e-mail or fax is a standard service. We can also send the original policy on your first request.
Our Insurance Division employees assist in organizing the inspection of the damaged cargo, in compiling of documents required by the insurance company in order to pay the insurance settlement, and in negotiations with the insurance company. We care about our customers being able to settle their insurance cases effectively, that is why we provide them with written instructions in advance.
To get a specific quote or any other information on cargo insurance we suggest filling out the form or contact the AsstrA group offices. Our experts will consider you request and provide you with necessary information as soon as possible.