Certify and Increase Opportunity.
Be
Govt. Certified Intl. Logistics Professional

Air Cargo Insurance

Whenever you are moving goods from one place to another it is advisable to have cargo insurance. The period of time you are covered for will be clearly defined in your policy and should start before the product leaves the place of origin and conclude after the goods are received.

Cargo insurances is a complex product and ranges from basic minimal protection to more comprehensive policies that can include loss of sales and replacement of products.

The types of coverage available also vary widely and can include cargo, commercial hull and marine goods in transit. Often, these covers can be combined to ensure your cargo is protected.

There are two main types of cargo insurance available:

Open or Annual Cover – (mainly for regular shippers such as importers/exporters)

This is the most common form of cargo insurance, most often used by regular shippers of goods such as importers and exporters including freight forwarding agents, where a policy is issued to cover a number of consignments being shipped to and from various ports and destinations throughout the year. The policy can be either for a specific value that requires renewal once the insured amount is exhausted, or an open policy that will be issued for an agreed period, allowing any number of shipments during that time. This type of cover is sometimes referred to as an ‘Open or Annual Policy’ as the insurance cover remains in-force for a stated period of time, usually 12 months.

Single Cargo Shipments – (for one-off shipments)

This is the next most common form of cargo insurance, mainly taken out by individuals and small businesses for one-off shipments of cargo & freight. This is where the cargo is priced and covered as one shipment from a particular destination to another – the cover usually commences at the point of departure and ceases upon arrival at the cargo’s destination which could be a port or the customer’s premises – often referred to as ‘Warehouse to Warehouse’. This type of cover is also sometimes referred to as a ‘Voyage Policy’ as the insurance covers only that specific shipment/voyage.

Apply for International Logistics Certification Now!!

http://www.vskills.in/certification/Certified-International-Logistics-Management-Professional