Why You Need To Consider Cargo Insurance
Are you shipping commercial goods as a small business owner? Are you shipping household goods or high-priced electronics like a flat-panel TV by air? What about gifts, or small packages? Occasional or small-volume shippers may not be aware of the need insurance to protect their precious cargo when they ship by air.
Did you know that if you don’t take out insurance on your air shipment as a direct shipper, or if your freight forwarder doesn’t have the proper insurance, you may run into trouble making a claim? You could face delays or disputes, or be unable to receive reimbursement for the full shipment value if there is loss or damage to your shipment.
Check with your air carrier or freight forwarder about the insurance coverage they provide. The carrier or small freight forwarder may tell you your air shipment is already covered automatically. But without the additional air cargo insurance coverage, any claim for lost or damaged cargo is strictly limited by international treaties, U.S. federal laws, and the shipment's contract as stated on the back of the air waybill.
Here are reasons to purchase air cargo insurance:
Protect your investment. At Amerijet, a Miami-based all-cargo carrier offering scheduled air service, our insurance will automatically cover 100 percent of the insured invoice value plus an additional 20 percent. This means if there is damage or loss to your shipment, the policy protects against “all risk,” and with no deductible.
Importantly, ask your carrier or forwarder if your shipment is eligible for coverage. Most items shipped by air can easily be insured and these include commercial merchandise, new goods, most perishables, vehicles less than 8 years old and boats less than 5 years old. Items which can’t be insured include antiques and live animals.
Competitive shipping insurance rates. How much does it cost to insure my shipment? Amerijet offers reasonable insurance through Seven Seas Insurance Company, a subsidiary of Nicor Inc., a Fortune 1000 insurance company. For a quote, try our air cargo shipping insurance calculator.
Peace of mind. A comprehensive policy will cover your shipment as soon as the goods leave the shipper or supplier, continuing throughout transit to the final destination, an important distinction since shipments are handled by multiple parties throughout the shipping process. Amerijet air cargo insurance remains in force for 15 days following discharge or delivery, whichever occurs first. Perishables use a 24-hour rule.
Fast claims resolution. Other details to ask your carrier or forwarder include claims settlement in the unfortunate event you do have a claim. How fast are claims settled? Our air cargo insurance claims are usually settled in 60 days or less.
For more information, visit Amerijet.