Transportation and Cargo Insurance

            Cargo Insurance is an insurance policy which provides protection against loss or
            damage to international cargos in transit.

            Is there a genuine need for Cargo Insurance?

            Yes! The probability for loss in transit is great. Therefore, Seajet considers
            insurance to be a critical part of the international transportation process.
            Long voyages, extensive lifting, moving, loading, shifting, theft, and bad
            weather add substantially to the probability for loss or damage in transit.

            Here below are 7 reasons why insurance is important
 
            (click on any picture for a larger view)           

            Who is responsible for lost or damaged cargo?

            Importers/Exporters often rely on the carrier to pay for all losses or
            damages in transit. However, law and/or tariff restrictions limit most
            carrier’s liability.
           
            A list of carrier’s limits of liabilities follows:

            What are the different types of Cargo Insurance?

            The basic form of cargo insurance, without any extraneous risks added
            thereto, covers the goods against perils of the seas, (heavy weather,
            stranding, collisions, sinking, etc.) fire, piracy, assailing thieves, jettisons,
            barratry, and all other LIKE perils. Partial losses are only paid if they reach a
            certain percentage. Because of the limitations of the basic cargo policy, an
            open policy is more frequently used.

            An open cargo policy automatically covers approved merchandise that
            assureds are obliged to insure under terms of sale. Under an open cargo
            policy goods can be insured Free of Particular Average (FPA), With
            Average(WA), or "All Risks".

            Free of Particular Average (FPA)

            FPA is a limited coverage that usually applies to used merchandise, waste
            materials and goods shipped subject to an on-deck bill of lading. It covers
            partial and total losses due to FPA hazards. These hazards include the
            sinking, stranding, burning, or collision of a vessel or by fire, lightning, crash,
            or collision of an aircraft.

            With Average (WA)

            WA extends FPA coverage to include the hazard of heavy weather and
            seawater damage.

            "All Risk"

            The most common and broadest form of coverage is "All Risk". An "All Risk"
            policy insures approved general merchandise in the event of physical loss or
            damage from any external cause. This includes most new merchandise,
            properly packed for export and not unusually susceptible to loss. "All Risk"
            insurance does not cover all losses possible in the course of an international
            shipment.
 
            Following is a partial list of common exclusions to "All Risk" Insurance:

            Whether your goods are shipped by air, ocean or land, Seajet can provide
            you with a cargo insurance policy that best fits your needs
            at very competitive rates.