Accidents at sea are uncommon but do happen. Dynamic’s independent advice ensures protecting yourself makes sense.
Protecting Your Shipment
Shipping insurance offers peace of mind. Bringing cover for your personal property, or commercial consignment, from point of origin, to final destination.
Accidents, piracy, bad weather conditions, or other unexpected events can happen and relying on your carrier is rarely a good option. Their terms and conditions almost always limit their liability.
The minimal cover they offer in no way compensates for the value of the potential loss, damage, or business inconvenience. Even to claim, you will normally need to prove that the carrier is liable.
Shipping insurance can instead cover full replacement, often further costs and removes the problem of trying to recover damages from the carrier, or successive carriers.
Avoiding Other Liabilities
If a vessel needs to jettison cargo to ensure safety at sea, or they sink, “General Average” will be declared. This means that all cargo owners participating in the voyage will be called upon to contribute a proportion of salvage costs.
Costs are usually in proportion to the value of each shipment on board, so the more you lose, the more you pay. Having no insurance cover is no excuse not to pay, so your frustrating loss can bring another financial penalty.
There is also the issue of whether you have “let down” others by failing to deliver. Even though the event is not your fault, contractual requirements could still see you responsible for external losses.
Insurance Equals Prudence
The points above are compelling reasons to take out marine insurance. Neither is compensation likely from any freight forwarder, including Dynamic, proving them liable for events at sea is improbable.
Dynamic do work to safeguard you, by using established carriers and ensuring all is in order, from packing to paperwork. If a ship flounders mid ocean, we, or perhaps the carrier, could not foresee this.
The prudent use of marine insurance avoids concerns. A sound choice is to cover your shipment for full replacement value at destination, including fresh shipping costs, known as C.I.F (cost of goods, plus insurance, plus freight costs).
There are other options, which may suit your particular shipment. Our specialist quotes team will advise, source best value and give a detailed quote. You are welcome to get in touch and set aside any concerns.