ACE International Group PTE LTD | transit-Insuarance

Even though the packing is done perfectly, always there will be chances for the damages / breakages of goods due to multiple handling. Handling goods both at origin & destination will be done with utmost care.

Port / shipping line handling cannot be guaranteed. Therefore we always advise the Client to cover their goods for Transit Insurance.

Insurance Coverage / Claim – Sea Cargo

One of our services is to co-ordinate between our Client and the Insurance Company to arrange for the Insurance coverage for the goods to be relocated.

We also co-ordinate between our Client and the Insurance Company for resolution of any claim.

NOTE - Insurance Application should be submitted 3 days before the commencement of packing the goods.

Period of Insurance Coverage

Transit Insurance – is to cover risk only the period of move.

All Risk Transit Insurance – is to cover risk both the period of move as well as during the storage period at warehouses. The policy commences from the starting day of packing at origin location and will be in force until delivery of goods at the new premises at destination end, which also covers risk when the goods are in storage at the approved warehouse both at origin and destination. Total period of risk coverage is for 90 days from the date of packing.

If the storage is required beyond 90 days then supplementary insurance can be arranged on written request for which additional premium is to be paid.

Conditions for Insurance Claim

Conditions for claiming insurance are given below in brief. The conditions are always subject to change.

It is desirable to bring to the notice of both the origin and destination agents about the damages / breakages of goods immediately on delivery and unpacking for doing the needful in processing the Claim.

Claim should be submitted within 30 days from the date of delivery.

Photographs of each of the damaged goods with its package number as per packing list, nature of damage and individual value should be furnished along with Claim Form.

Claim approval shall be subject to scrutiny.

Claim may be for the value of the missing items in full / damaged or broken items in full or for necessary repairs with the supporting estimate which must be specified in the claim and the settlement shall be in accordance with the terms & conditions of the Insurance Company.

Damages noticed at the time of Unpacking by the destination agent crew are only claimable, the damages reported at later stage will not be entertained.

NOTE: Origin Agent and Destination agent are the coordinators only and they do not guarantee the approval of the claim and would not stand guarantee for the settlement of claim with the Insurance Company.