International Shipping Insurance
When shipping large or small goods overseas there are plenty of factors to take into consideration. One of the most important is the possibility of your item, regardless of its size, becoming damaged or lost during the travel. International shipping insurance will help ensure that should something happen to your goods, you will receive reimbursement suitable for the cost of replacement. You can choose international shipping insurance for a variety of items ranging from registered mail, household goods and vehicles, ocean cargo and air freight.
When choosing international shipping insurance there are many factors that should be taken into consideration, one of which is the underwriter for the insurer. When researching various international shipping insurance companies and comparing rates, make sure to determine who the underwriter is as you can check their rating and history with watchdog organizations to ensure you are dealing with a legitimate insurance company. You may find that choosing a shipping insurance company that has a reputable underwriter with a long standing history is your best choice.
No two international shipping insurance companies are alike and you should make certain that you perform your research before choosing the best company for protecting your goods. You may want to compare various quotes and prices online as well. Once you’ve determined that you are dealing with a reputable company, you’ll need to determine exactly what the international shipping insurance company covers and how they handle claims. It’s important to realize that when you choose international shipping insurance the insurer should cover all of the major carriers such as UPS, USPS, FedEx, Canada Post and ocean and air carriers. If you are choosing a private carrier, ensure that the international shipping insurance company you are considering using will cover the private carrier, as well as major carriers, you plan on using.
Some major carriers will try to sell you their carrier insurance but you are not required or obligated to use it. You can stop declaring insurance with the carrier and use a private international shipping insurance company.
Due to the volatile, political climates in some areas, you may not have the ability to choose international shipping coverage for all areas. Check with the carrier and insurance provider regarding any exclusions they may have. Certain countries may be excluded from protection. The insurance company, as well as the cargo provider, should have a full list they may provide you with of approved countries or destinations. In addition to excluded countries you may also find that there are certain goods that are excluded from a company’s insurance coverage. Find out beforehand what items are or aren’t allowed or are on the company’s exclusion list.
Determine what types of events are or aren’t covered by the international shipping insurance company and choose accordingly. Don’t make the mistake of thinking that your goods will be protected regardless of how they are damaged, lost or destroyed. Some insurance companies will not provide coverage due to events such as war, terrorist attacks, riots or civil or political unrest. If you are worried about these conditions impacting the safety of your goods, speak to the international shipping insurance company. They may offer additional coverage for these situations at an additional price.
In addition to determining where and what an international shipping insurance company covers you’ll need to learn beforehand how the company handles the claims process. Find out what you are expected to do, what you may have to file, or what is required of you to prove the value or worth of the times damaged or lost. Determine the insured value of your items and what the policy will pay out beforehand. Also, find out what the liability limits are on your policy to ensure that you are fully aware of all limits pertaining to your recovery costs.