BENEFITS OF CARGO INSURANCE
When it comes to benefits of Cargo Insurance, it is very important. As you know, irrespective of the mode of transportation or courier service, coverage for issues during transit is typically minimal. Cargo Insurance offers significantly better protection. For instance, in airfreight, the airline covers only $2,333 for a $39,500 loss, leaving a $37,167 gap, while Cargo Insure Online covers $39,105, leaving just a $395 loss. In sea freight, the shipping line pays $21,111 on a $126,800 loss, resulting in a $105,689 gap, but Cargo Insure Online covers $125,300, reducing the loss to $500. For road transport, a trucking company covers $12,967 for a $24,200 loss, leaving a $12,967 gap, whereas Cargo Insure Online covers $23,958, leaving a $242 loss. This demonstrates the substantial difference in coverage between standard liability and Cargo Insure Online.
“With a minimal investment in Cargo Insurance, you can secure comprehensive coverage”
LIABILITY BY TRANSPORT MODE
Standard Convention
Montreal
Maximum Liability
SDR 19 or USD 26.22 per kilo
Example of Total LOSS/BROKEN
5 boxes – 89 kgs
Value: $39,500
AIRLINE will pay $2,333
YOUR LOSS: $37,167
CARGO INSURE ONLINE will pay $39,105
YOUR LOSS: $395
(deductible of 1%, max $500)
Cargo Insure Online Premium
Usd. 47.40
Standard Convention
Hague – Visby Rules
Maximum Liability
SDR 666.67/pkg or SDR 2/kilo
Example of Total LOSS/BROKEN
1 x 20’DV – 7,649 kgs
Value: $126,800
SHIPPING LINE will pay $21,111
YOUR LOSS: $105,689
CARGO INSURE ONLINE will pay $125,300
YOUR LOSS: $500
(deductible of 1%, max $500)
Cargo Insure Online Premium
Usd. 152.16
Standard Convention
CMR Convention
Maximum Liability
SDR 19/kilo
Example of Total LOSS/BROKEN
12 crates – 1,826 kgs
Value: $24,200
TRUCKING Co will pay $12,967
YOUR LOSS: $12,967
CARGO INSURE ONLINE will pay $23,958
YOUR LOSS: $242
(deductible of 1%, max $500)
Cargo Insure Online Premium
Usd. 29.04
Standard Convention
by Courier company
Maximum Liability
USD 100
Example of Total LOSS/BROKEN
1 box – 4 kgs
Value: $760
COURIER will pay $100
YOUR LOSS: $660
CARGO INSURE ONLINE will pay $760
YOUR LOSS: $0
(no deductible for e-Commerce)
Cargo Insure Online Premium