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Cargo Insurance

What is cargo insurance and why do you need coverage for the transportation of your goods?

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Cargo Insurance

It is the law for all carriers to provide a minimum amount of insurance. However, carrier liability provides very limited cargo insurance coverage and in an unforeseen event such as natural disasters or in-transit accidents, shippers can be prepared and request full freight insurance to protect their shipments for loss, theft or damage. For fully covered loss, we highly recommend comprehensive cargo insurance.

Cargo insurance to cover your freight transportation

In recent years, there have been a number of unforeseen circumstances arising in the global transportation of goods. Cargo Insurance is designed specifically to address your needs and protect the value of your cargo and cover legal liability. Cargo insurance claims are handled by a dedicated, professional team ensuring you have peace of mind when transporting your goods both domestically and internationally. As your supply chain partner offering a full suite of logistics solutions including air freight, ocean freight and warehouse solutions, we offer all risk cargo insurance coverage that will ensure your freight is fully covered should there be any issue throughout the transportation of your freight shipments. In the case of loss or damage (from what are considered as acts of god or other), our comprehensive cargo insurance will cover the complete costs of your valuable cargo.

Unforeseen events can impact your bottom line

Learn more about the different types of liability associated with your freight insurance risk coverage, contact your sales representative today for more information on how we can help you with full cargo insurance coverage and for a list of terms and conditions if required. Buy insurance for your freight that suits your mode of transport. The type of insurance you choose may play a critical role in your shipping process now and in the future and ensure you have peace of mind for any physical loss of your cargo. Carrier liability provides limited insurance coverage for your goods. Natural disasters, accidents and more can damage your cargo. Insuring your goods for loss, theft or damage whilst in transit will ensure you have cargo protection for your shipments. Reach our for an insurance quote today.

Your goods are the heart of your business. Do you worry about unpredictable circumstances, like theft or bad weather conditions, causing loss or damage to your shipment?

At DOF Logistics, we understand that protecting your cargo from potential risks is your biggest priority, which is why our experienced professionals offer you cargo insurance solutions with coverage for the value of goods.

DOF Logistics Cargo Insurance is our one-stop shop solution that applies a suitable cargo insurance each time you book your shipment - effectively removing extra processing steps and bringing you peace of mind. Within Cargo Insurance, your claims will be settled quickly and efficiently, saving you plenty of time and effort. This way, you’ll be able to focus on growing your business while we ensure that your goods are protected against harm. Being one of the first logistics companies in the world to offer cargo insurance to customers, we have a long history and experience in safeguarding goods. For over 50 years, we have worked closely with our subsidiary, Nacora International Insurance Brokers, to help you find the right coverage for your shipment. Cargo Insurance supplies you with Nacora’s international team of insurance experts, who take your cargo type, location and other service requirements into consideration before offering you a cover that’s tailored to fit your needs.

Cargo Insurance: General Average

One of the great advantages of having cargo insurance protecting your shipments is that cargo insurance also covers General Average. If your shipment is included as part of a General Average declaration the insurance policy will cover the general average bond in order to have your cargo released. This frees your company from having to make any additional cash deposits.

What is General Average?

General Averaging is a concept that is based in maritime tradition and is governed by a set of rules known as the York/ Antwerp Rules, revised in 1990. Participation is as per Terms and Conditions on the Ocean Contract of Carriage. General Average is declared by the vessel owner. A General Average Adjuster is chosen to administrate the process. Their initial job is to ensure all parties participate and a deposit is received from all cargo owners. The deposits are a proportional value of the invoice value that is roughly estimated to cover the cargo owner’s part of the General Average. As the full process can take a very long time to resolve, participation and funds must be ensured from the beginning. A General Average notice, with instructions and forms, is given to the carrier, who passes it to the cargo owner or via their freight forwarder. One of the great features of having cargo insurance protecting your shipments is that cargo insurance also covers General Average. If your shipment is included as part of a General Average declaration the insurance policy will cover the general average bond in order to have your cargo released. This frees your company from having to make any additional cash deposits.