Insurance
On land, air and overseas transportation rates for moving personal goods include cargo freight insurance coverage. This insurance coverage insures the goods in the event of total loss only at a value of $0.10 (ten cents) per calculated pound.
Certain conditions may apply.
Optional insurance coverage is available:
- Cargo Freight Extension Insurance Coverage (Total Loss Only)
- All Risks Insurance Coverage $300.00 Deductible (Partial Loss or Damage)
Contact for further information.
Frequently Asked Insurance Questions
Q: Doesn't the carrier have to cover my loss?
A carrier does not provide insurance for his cargo. They do have liability insurance to cover the company should you make a claim against them. To make a claim you must prove the carrier is at fault--there may be more than one carrier involved in the transport of your goods
Q: I've shipped hundreds of times and never had a loss. Why would I want to insure?
That is a wonderful position to be in, but the more you ship the more the law of averages works against you. Having the right insurance on your cargo manages that risk in the most cost-effective way. If you ship by ocean, you'll also need to be aware that you may bear thc cost of some one else's loss through "General Average", a process whereby all parties transporting by ship bear the loss of one or more parties whose goods are jettisoned to save the ship.
Q: What are the chances that anything will happen to my goods?
While your shipments are safe the majority of times, you may want to consider what even one loss will cost you. Add up all the items and the time it takes to make a liability claim, and prove that the carrier is responsible. Once you replace the loss, deal with legal fees, etc. -an all-risk cargo insurance policy that can be put in place before your cargo ever leaves just makes good sense. PNS would be happy to provide a free quote.
Q: I already have my own policy. Isn't that enough?
Ask your insurer what conditions and exclusions your policy has. What are the deductibles if you need to make a claim? What conditions are covered - all-risk, war clauses, riots, strikes, civil disobedience? PNS may have a more cost-effective solution available for you.
Q: I only import C.I.F. Why would I need added insurance?
You might want to ask these important questions:
- What is the level of insurance provided?
- Does it cover partial loss, or total loss only?
- Can you, as the importer, collect payment for a claim outside of the country of origin?
- How much is this insurance costing you?
Q: Since I only ship F.O.B., do I really need insurance?
F.O.B. presents unique challenges. At times it is difficult to determine at what point the insurance actually goes into effect. Also, portions of the travel may not be covered. You need to look at the specifics of the policy. Keep in mind that you are relying on a foreign insurance policy if you need to make a claim. How strong is the currency of the country where the policy is written? What currency restrictions does that country have in place? These can severely hamper your claim and collection.
