Safe and on time transportation of goods, whether you own a small or a large import/export business, is a very important factor for your business to operate effectively. However, since this process often causes problems that may be due to packaging, loading or unloading, climatic conditions, etc., your transport insurance programs ensure the safe handling of your goods by protecting your cargo from any loss, while at the same time allows you to engage more confidently into taking commercial risks, by expanding your business activities.
In more detail, there are transport insurance programs covering all goods transported (imports – exports – domestic shipments) from physical damage or loss on behalf of their owners, as well as the civil liability of transporters for damages that will be caused to the transported goods of third parties. Particularly, it is offered to insure the goods or the Liability during their transport regardless of their category (ie bulk or solid loads, specialized loads or general cargoes), which are traded by any recognized means of transport (lorry – container, ship , airplane, train, courier or a combination thereof).
In Transport Security there are 3 basic terms, 3 basic insurance clauses, which have been instituted by the Institute of English Insurers and cover the cargo carried, depending on the risks which you want to protect your goods from.
The insurance clauses used are:
Institute Cargo Clauses “C”.
It covers the main damage that may occur during a transport such as: fire, boarding, explosion, sinking or overturning of the ship, rollover or derailment of land transport, clash of the ship or vehicle, with any object out of the water, unloading of the transported goods at a port of refuge or detention, general average, costs of salvage and proportional responsibility due to collision of ships, deliberate drop of merchandise in the sea.
Institute Cargo Clauses “B”.
All risks of the “C” clause are covered and, in addition, the total or partial loss due to: earthquake, volcanic explosion, thunderbolt, surplus merchandise at sea, influx of sea water to the transported merchandise or to the container or storage , excluding rain water, total loss of parcel during ship loading.
Institute Cargo Clauses “A”.
All damage or loss to the transported merchandise is covered, except for those expressly excluded. In fact, this is a cover for all risks.