Freight transport insurance

Security for your shipment

  • All modes of transportation insured
  • Completely customizable towards you needs
  • Worldwide network of damage experts

Freight transport is not without risks. A lot can go wrong. Your shipment is damaged during an accident, or freight is stolen. If you are not insured, this can cost you a lot of money. If you are the risk bearer for the transportation, then that damage is insured with our Freight transport insurance. Whether you are the risk bearer depends on the terms you decide upon with the seller/buyer (incoterms).

Ample standard insurance

The Freight transport insurance covers the insured damage during transport. All forms of transportation are insured: land, water, air and rail transportation. Whether you or a third party transports the goods. The Freight transport insurance is customizable so that the coverage fits your logistic activities and risks

Insured in our Freight transport insurance

We insure damage of your goods during transportation that are caused by outside factors. It does not matter whether you or a third party transports the goods.

What is insured

  • Damage caused by fire/explosions
  • Damage caused by theft
  • Damage caused by depravation
  • Mandatory General Average payments
  • Damage caused by war or strikes
  • Extra costs such as:
    • Extra costs resulting from loading and unloading in an emergency harbour
    • Costs of a damage expert
    • Clean-up costs
    • Costs to prevent damage

What is not insured

  • Damage caused by intentional guilt
  • Damage for which you are not responsible based on the incoterms
  • Damage caused by the nature of the product

Fully customizable

For every product, every form of transportation and every trade a specific solution might be required. Together we can map out all the risks and extend your coverage so that all risks are covered. For example:

  • A coverage for damage which you are not liable for based on the terms of delivery (incoterms), but causing that you are not getting paid, or causing goods to be returned. (Seller’s / Buyer’s interest).
  • Brand protection: You don’t want your branded goods on the market when they are partially damaged. We can cover your partially damaged goods as completely damaged, even though they are not.
  • Do you part take in fairs and exhibitions? We can cover the goods during the transport from and to the venue, and during the actual event.
  • Do you transport freight that has a high risk of spoilage? Under some circumstances, we can insure some form of spoilage.
  • Do you transport goods for reparation, revision or maintenance? Or to be edited somewhere else? We can cover these transports and storage at a third party.
  • Do you transport goods between different business locations? We can also cover these types of transportation.

Current threats

We always keep a close eye on the trends in the transport & logistics industry. If we spot developments which form a risk for you, then we will act straight away. One example of this is the worsening of shipping company’s financial situation. Therefore, we created the Bankruptcy coverage.

Bankruptcy coverage

Besides damaged goods, there are more risks connected with freight transport. In 2016, we have seen the effects and costs when a shipping company goes bankrupt. Even now, recent publications show that the financial stability in the container transport industry is unstable. Exporters and importers are running the risk that they (again) must deal with the same costs like Hanjin, for instance:

  • Pay to release goods the container terminal has confiscated
  • Extra storage costs and handling costs
  • Goods/containers must be transported from the emergency harbour to the destination

There is a significant chance that your insurance policy doesn’t cover these risks. Therefore, we offer clients the possibility to cover these risks for a small fee. And as direct writer we are in the driver seat to advise clients how to deal with these situations in often faraway places, and to limit the costs. This means less worries for you, and we make sure that your goods arrive at the destination as fast as possible.

Insurance certificates/separate policies

It can occur that you need to show your buyer an insurance certificate or policy during a trade. This is possible with the CIF incoterm, or if a Letter of credit is issued and the bank requests a certificate. For these requests, we work with Ocean Wide, a world-wide known and renowned supplier of applications for creating certificates. Through an online application, you can create these certificates when you need them, 24/7.

Direct contact in case of damage

You can always contact one of our specialists directly. With one phone call you can report damage, report a change or ask a question. Our specialist will advise you the best course of action and if needed will arrange help directly.

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