Additional Shipping Insurance
As goods in the transport are constantly exposed to risks, additional (all risk) insurance of goods in transport has become a necessity and a need. On long journeys, during transshipment and storage, a harmful event may occur, and the consequences can be reduced by contracting all-risk insurance.
All risks insurance policy covers physical damage, destruction, or theft of goods during transport with one or more means of transport on the insured route. Goods are considered to be insured against all risks in transport from the moment the means of transport leaves the area of the consignor’s warehouse until it enters the area of the consignee’s warehouse.
Additional all risk insurance of cargo in international transport covers loss and/or damage to goods that occur during transport due to:
- traffic accidents involving a means of transport,
- fire or explosion,
- natural disasters,
- failure to deliver whole parcels,
- theft (partial or whole),
- handling damage,
- soaking, etc.
The calculation of the all-risk insurance premium in transport depends primarily on the type of goods, their value, the transport route, and the type of means of transport.
City Šped d.o.o, at the request of the Client, buys an additional all-risk insurance policy from the contractual Insurance Agency, with the Client being the beneficiary of the insurance policy, City Šped d.o.o. the policyholder and the Insurance Agency paying any damage incurred directly to the Client’s bank account.
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