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If you are buying or selling goods overseas, and your customer or freight forwarder arranges the insurance, how can you be sure that your interests will be protected? What are you getting for your money? Is there a better way to insure international shipments?
Important considerations for importers and exporters:
- What are you paying for cargo insurance?
- Is it a good deal?
- Is the coverage "All Risk" or something less?
- Is a foreign insurance company being used? Are they reliable?
- How do I file a claim? How long will it take to get paid?
- If I have a question or problem, who do I call?
Three reasons you need your own cargo insurance policy:
- Control over claims-
If someone else arranged your ocean cargo insurance, you might wind up dealing with a foreign insurance company. If your ship gets caught in a storm, if your truck is hijacked, if your shipment just doesn't arrive when it is supposed to - who are you going to call? Don't rely on freight forwarders or overseas insurance companies chosen by others to represent you. Let us help you arrange a policy with a trusted U.S. insurer who we know.
- Control the cost of insurance-
When someone else arranges your Ocean Cargo insurance, are you getting a good deal? Is the premium being "marked up" by the middleman? Don't let a freight forwarder, customs house broker, or overseas supplier determine your costs. Why not take advantage of our expertise and let us design a competitively-priced program that fits your particular commodity and shipping pattern. It has been our experience that the cost of insuring through a freight forwarder's cargo insurance policy is usually significantly more expensive (often 2 to 4 times higher) as compared to when the shipper carries their own policy.
- Control the coverage -
When a freight forwarder or your customer handles your insurance, can you really be sure of the coverage that you will get? We can arrange a policy to cover all of your shipments of new merchandise on an "All Risk" basis. All of your shipments would be covered as soon as they begin transit - automatically.
Export Insurance & Trade Services