Freight Insurance Advice
Freight Insurance Advice
Glorious can provide cargo insurance for you – the safe way to secure full Payment for potentially damaged or lost goods.
If your business buys or sells international goods you may need ocean cargo insurance. This coverage protects your company from loss or damage to property that's in the course of transit from loading point to destination. Ocean cargo insurance is purchased by manufacturers, importers, exporters, and freight forwarders.
Ocean cargo coverage was originally designed to cover goods transported by sea. The shipping industry has changed dramatically since the advent of cargo containers in the 1950s. Nowadays, a cargo container (and its contents) may travel via ship, air, rail, and truck as it moves from its point of origin to its destination. Consequently, many ocean cargo policies provide "warehouse to warehouse" coverage. This means they cover goods from the time they leave the warehouse at the point of shipment until they arrive at the warehouse at their destination.
As the world economy continues to expand, so do the volumes and complexity of international cargo shipments. Glorious offers a comprehensive range of products specially designed to meet the changing needs of today’s sophisticated cargo shipper.
Glorious provides cargo insurance for protecting your domestic and international shipments. All Risk Coverage for Internal and International Shipping, only with Glorious. The best way to secure full value payment for damage or loss during transportation is to buy cargo insurance for the shipment. As an add-on services, Glorious offers such insurance for all transport modes globally.
We at Glorious Shipping are aware that a latent risk of an incident during Freight of goods is always present in logistics when goods are in transit, whether it be from accidents, breakdowns, criminal acts, weather phenomena, etc. That is why we put our Freight Insurance Advising Service at your disposal.
Our team of logistics experts will support you in finding out which precautionary measures are best suited to your merchandise and specifications. So that risk to your investment and merchandise is as low as possible and, in case an accident happens, you can count on coverage during Ocean Freight.
Not assume unnecessary risks, insure your cargo. We can help by advising you when purchasing Freight Insurance for your seaborne containers.
Prevention is the best way to avoid any accident.
- Banks require proof of insurance if a shipment is on a letter of credit;
- Cargo Insurance provides coverage that the carriers don’t. The carrier does not insure your cargo, and their liability may be less than the value of your goods;
- Laws and convention for transports include limitation that may reduce compensation to a certain sum per kilo. Therefore, payments may not always fully correspond to actual value of the cargo;
- Full value compensation;
- 10% imaginary profits paid in addition;
- If you are exporting FOB or importing CIF at which point are you responsible to insure the cargo?
- Professional and swift claim assistance through our broker, Transwold Asig;
- If your shipment is insured locally, claims are paid more readily.
Who needs cargo insurance?
Just about every entity that imports or exports raw materials, semi-finished goods, finished goods, long lead material or sells a portion of finished products abroad needs cargo insurance. The list includes, but is not limited to, manufacturers, retailers, and import and export traders. The goal when purchasing insurance coverage is to cover the financial exposure during cargo transit, keeping in mind that many carriers only maintain the minimal requirements as governed.
What is covered?
Cargo insurance protects every shipment through each leg of the voyage, from the point of departure or the seller's warehouse to arrival at the consignee's warehouse. Whether the transit is by land, sea, or air, coverage is continuous and includes, if needed, related warehousing—anywhere in the world.