International Transport insurance

Today we'll talk a little bit about something important, essential to ensure that their international negotiations will take place without any major setbacks.
International insurance is the most effective way to ensure that your company will not suffer financially with a possible loss, damage to or loss of cargo. These incidents are subject to occur independent of the chosen mode for freight-air, road or sea is.

This insurance is not compulsory but highly suitable to ensure that the resources invested in the importation of the goods will not cause major losses for the company. In the case of the insurance contract, the company may feel more comfortable by possible incidents, since the risk of causing damage to business will be extinct.

The insurance should be agreed upon conditions of sale or purchase, at the time of negotiation, and checking the modal chosen for transport, and also make it clear which of the parties will be responsible for hiring the safe – importer or exporter. It is noteworthy that these insurances follow international standards, commonly called Incoterms, which define obligations and responsibilities of the parties involved in business, setting standards and rules for the place of delivery of the cargo, responsibilities regarding freight, insurance and other aspects.

There are two types of insurance:
Basic Wide coverage to: guarantee losses from accidents or external causes, which cause damage, loss, theft, among others.
The basic coverage Restricted B and c: guarantee losses from damage or loss resulting from accidents involving the carrier vehicle-plane, ship, freight train. This cover is used automatically to goods used also.

It is important to read and be aware of what your insurance is covering, what limitations in relation to the goods, insurance and contract values and which items are included in the guarantees given by the company.

The insurance calculation is usually based on the value of the merchandise plus the shipping. It is vital to mention that, on import, the best thing to do is hire the insurance to cover the value of the nationalized load. When a shipment arrives damaged/broken, usually noticed only after clearance, when the cargo arrives in your company and have been paid all fees relating to import, so the importance of having the policy with coverage of taxes. On importation, in addition to the cost of the goods, the customer can, thus, ensure the values paid freight and taxes of the nationalization, in addition to 10% of 10% of profits and expenses expected in a possible commercialisation of the product.

We appreciate the collaboration in this article from our partner Dennis Trein Secure logistics. 🙂

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