In most cases, the trader decides whether to insure the goods. Whether the seller and/or the buyer should take out insurance, to what extent the cargo should be insured and under what conditions is a matter of negotiation.
Insurance is a written contract between the issuer of the insurance policy and the insured, where the insurer undertakes to indemnify the insured party against certain risks and damage to the goods, as well as to cover additional costs incurred for the physical preservation of the goods and/or the ship. The object of insurance may be the value of the goods and/or the cost of transport. Very often, the insured does not pay enough attention to his obligations under the insurance contract, that is, the fulfillment of the clauses that make him a "good party to the contract" entitled to claims for compensation. Such clauses, for example (but not limited to): the type of packaging, corresponding to the type of transport chosen, which in turn should meet the requirements of the respective goods.
Insurance is a very necessary additional expense in international trade and transport - for example, if during sea transport the shipowner or the captain of the ship declares "General Average", according to Maritime Law, YOU will be liable for a percentage of the emergency costs that the shipping line declares. You are insured not only against the risk of damage or loss of your goods, but also against the risk of extraordinary costs declared by the shipowner for damage to a third party, for repair or even loss of the ship. Can you afford to lose not only the cargo, but also to pay additional costs for a declared "General Average"? It has happened to others before, it can happen again!... Get Insurance!
Delta Shipping Ltd., as an official agent of BULSTRAD (Vienna Insurance Group) can offer you "All Risks" insurance, including the risk of military conflict, at very competitive conditions. We are able to offer you all types of cargo insurance, covering various clauses.
We prepare insurance policies as an Agent of the Insurance Company, that is, we do not pay compensation - this is done by the Insurer according to its General Terms and Conditions and against duly submitted documents for recording the relevant damage.
