Air traders should pay attention to the five blind spots of marine insurance in international import and export trade

Air traders should pay attention to the five blind spots of marine insurance in international import and export trade!

Sea transportation is an ancient mode of transportation, which still plays an important role in the field of transportation. Marine insurance, which is closely related to it, has also developed early and improved. However, in practice, we still need to be very vigilant about the insurance blind spot.

1. Insurance period

Before normal shipment, you should buy Marine Insurance, predict the time of shipment, issue a draft policy, and confirm the original policy after determining the time of shipment.

2. Absolute deductible

The absolute deductible refers to that the loss within the deductible is the responsibility of the insured, and the insurer is only responsible for the compensation amount above the deductible and within the compensation limit. In signing the contract, the applicant should pay attention to this agreement.

3. Insufficient insurance

In the settlement of claims, the compensation shall be paid in proportion. It is recommended to insure in full as possible and fill in according to the actual invoice amount in order to protect the best interests.

Calculation method: compensation amount = loss amount * (insured amount / invoice amount) -- absolute deductible

4. "Warehouse to warehouse" clause

Under the contract concluded in FOB or CFR Terms, the seller is not obliged to purchase international transportation insurance for the goods, and the buyer usually insures the goods for its own interests. Under this term, the buyer's insurance interest in the goods is "ship to warehouse" rather than "warehouse to warehouse". Therefore, if only the buyer is the insured, whether there is a "warehouse to warehouse" clause in the insurance document or not, the liability of the insurance company is only "ship to warehouse".

5. Claims

When the goods are found to be damaged, the insured shall immediately notify the insurance company to arrange the on-site survey (or agree with the insurance company in the contract on the on-site survey of small claims). At this time, the site shall be kept as far as possible (if the insurance company does not come to the on-site survey, the insured shall make property loss records, take photos, and report some special cases to the administrative authority), waiting for the insurance company to judge the damage and inform the documents to be provided for the claim.