CARGO
DESCRIPTION
WHY IS IT NECESSARY TO INSURE CARGO?
Transportation of cargo is directly connected with the risk to face unforeseen material losses. Cargo insurance is the viable method for protecting Your interests in case of loss, destruction or damage of the cargo.
WHAT KIND OF CARGO CAN BE INSURED?
“INGO ARMENIA” insures any kind of cargo.
WHAT RISKS CAN BE INSURED?
Cargo insurance is performed based on generally accepted insurance conditions which are constituted by the Insurance London University (ILU) (“Institute Cargo Clauses” (A), (B) and (C)). In addition to general conditions, insurance coverage may include special risks, such as military actions, strikes, risks of damage to the cargo during loading/unloading works, risks of keeping the cargo in interim warehouses during transportation process.
Insured risks specified in the Insurance Policy.
INSTITUTE CARGO CLAUSES (A), (ALL RISKS)
Insurance covers “all risks” in connection with damage or loss of the cargo, except the cases of general exclusions. The meaning of “all risks” in accordance to clause A is coverage of “accidental losses”, excluding “inevitable losses”.
TERRITORIAL SCOPE
Insurance coverage is effective on the territories of all the countries of the World, except for the territories of countries involved in wars, regardless of the type of transport.
SUM INSURED (MAXIMUM LIMIT OF COMPENSATION)
Definition of the liability of the Insurer (insurance value and sum insured) is very essential, as in case of insurance accident occurrence compensation payment is performed taking into account the amount of this sum. That is why “INGO ARMENIA” ICJSC in accordance with the wish of the client includes all documentation proved expenses for transportation execution into insurance value e.g.:
- Invoice value of the cargo
- Freight charges;
- Customs duty;
- Expenses of military escort and etc.
INSURANCE OPTIONS
No matter You want to insure one separate cargo or a systematic consignment of shipments, our specialists will help you choose the most optimal insurance coverage that best suits your intended budget.
There are 2 ways to insure cargo:
- By signing separate Policies,
- Concluding a General Policy on Cargo Insurance.
We will make a one-time certificate for a single cargo, while best option for regular shipments is to sign a General Policy.
The General Policy has the following advantages:
- insurance rates are lower for a General Policy than for a on-time Policy;
- Has a convenient form of cargo insurance application;
- Provides a flexible insurance premium payment system
HOW MUCH DOES CARGO INSURANCE POLICY COST?
You can get a quick calculation of your insurance premium by filling in the application form and sending it to info@ingoarmenia.am. Our specialists will contact you within 1 business day.
Terms and conditions of cargo insurance
