When goods cross state borders or move within the republic there may be situations that cannot be controlled.
The purpose of goods in transit insurance is to indemnify the damage caused to goods and the related expenses of the policyholder.
Sometimes the owners of goods think that it is enough if the carrier has entered into a liability insurance contract. However, they forget that the carrier is liable only if the goods are damaged due to the carrier's fault and that the carrier's liability is limited pursuant to the gross kilogramme of the goods (8.33 Special Drawing Rights (SDRs) of the International Monetary Fund). Therefore we recommend that the owners of the goods also insure these.
You can enter into a goods in transit insurance contract based on the list of risks of all-risks insurance or the list specified in the conditions. The goods in transit insurance conditions are the most harmonised conditions in the world and therefore the all-risks insurance complies with the A clauses of the Institute Cargo Clause (ICC) and the insurance of specified risks complies with the C clauses of the ICC. Goods in transit insurance also offers additional fare insurance coverage whereby insurance is effective on the dates of transportation and during time between the dates. The extent and requirements of the insurance coverage during the fare are agreed on separately.
Based on the characteristics of cargo the insurance contract can be made with regard to specific cargo and its journey or cargo that moves during a certain period of time and in pre-defined areas. In the latter event an annual goods in transit insurance contract is made.
Sometimes the owners of goods think that it is enough if the carrier has entered into a liability insurance contract. However, they forget that the carrier is liable only if the goods are damaged due to the carrier's fault and that the carrier's liability is limited pursuant to the gross kilogramme of the goods (8.33 Special Drawing Rights (SDRs) of the International Monetary Fund). Therefore we recommend that the owners of the goods also insure these.
You can enter into a goods in transit insurance contract based on the list of risks of all-risks insurance or the list specified in the conditions. The goods in transit insurance conditions are the most harmonised conditions in the world and therefore the all-risks insurance complies with the A clauses of the Institute Cargo Clause (ICC) and the insurance of specified risks complies with the C clauses of the ICC. Goods in transit insurance also offers additional fare insurance coverage whereby insurance is effective on the dates of transportation and during time between the dates. The extent and requirements of the insurance coverage during the fare are agreed on separately.
Based on the characteristics of cargo the insurance contract can be made with regard to specific cargo and its journey or cargo that moves during a certain period of time and in pre-defined areas. In the latter event an annual goods in transit insurance contract is made.