CARGO INSURANCE INDIA - cargo shipping agency India


THE BASICS OF CARGO INSURANCE


The current policy is designed for the frequent shipper.  It automatically covers approved merchandise that assureds are obliged to insure under terms of sale.  This eliminates the need for the importer or exporter to negotiate terms, conditions, rates, and limits for each shipment insured.  Under an open cargo policy, goods can be insured “ALL-RISK”, Free of Particular Average (FPA) or With Average (WA).  These coverage variations are explained below.

“ALL-RISK” COVERAGE 
The broadest form of coverage is “ALL-RISK”.  An “ALL-RISK” policy insures approved general merchandise in the event of physical loss or damage from any external cause.  This includes new, packaged goods without unusual susceptibility to loss from breakage, pilferage, or the nature of the goods themselves.  “ALL-RISK” policies do not cover all losses possible in the course of an international shipment.

Typical exclusions in an “ALL-RISK” Policy are:
1.        Improper packing
2.        Abandonment of cargo
3.        Rejection of goods by customs
4.        Failure to pay or collect accounts
5.        Inherent vice (infestation or loss due to the nature of product itself)
6.        Employee conversion or dishonesty
7.        Losses due to delay or loss of market
8.        Losses in excess of policy limits
9.        Losses at port city more than 15 days after discharge of cargo
10.   Losses inland more than 30 days after discharge of cargo
11.   Losses in South America more than 60 days after discharge of cargo
12.   Barge shipments
13.   Goods subject to an on-deck bill of lading
14.   Losses caused by temperature or pressure (air shipments)  
15.   Failure to notify air carrier of preliminary loss in timely fashion:
a.  Obvious damage – 7 days
b.  Hidden damage – 14 days
c.  Non-delivery – 120 days 
16.   Used goods


For further details on Cargo Insurance and how your company can benefit from it, please contact us.


Sahyog Group

Contact Person: Mr.Rajeev Sharma
+91-9811157957
Address: 102 & 104 ABC Complex,
20 Veer Savarkar Block, Shakarpur,
Delhi – 110 092, India
Phone Nos: 011- 22015854, 011-2201 5855, 011-2201 5856
Telefax: +91-11-4244 5079
Skype: sahyoggroup
E-mail: raj@sahyogfreight.com



Introduction
Founded a decade back with an aim of becoming a Single Window Service Provider for Exporters’ & Importers’ requirements, Sahyog Group has grown well in the market with a focus on complete Customer Satisfaction.



Sahyog Group provides Customs Clearing, International Freight Forwarding and related Services for all Export / Imports requirements. We also offer Consulting Services for all Export / Import related needs. In addition to all the foregoing we now offer Training & Recruitment Services as well.