Chuangwu Supply Chain

Sea shipping is an ancient mode of transportation and still plays an important role in global transportation today. Marine insurance, which is closely related to sea shipping, has also been developed today. However, in actual operation, it is still necessary to be very vigilant about the insurance blind spot.

1. Insurance time
Before the normal opening, you should purchase marine insurance, forecast the departure time, issue the draft policy, and confirm the original policy after confirming the sailing time.

2. Absolute deductible
Absolute deductible means that the insured is responsible for the losses within the deductible, and the insurer is only responsible for the amount of compensation that exceeds the deductible and is within the compensation limit. When signing the contract, the insured should pay attention to this agreement.

3. Insufficient insurance coverage
In the case of claim settlement, the compensation will be paid proportionally. When applying for insurance, it is recommended to apply for the full amount of insurance , 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 a contract concluded in FOB or CFR terms, the seller is not obliged to purchase international transport insurance for the goods. The buyer usually insures the goods for his own benefit. Under this term, the buyer's insurance interest in the goods is "ship to warehouse" not "" Warehouse to warehouse", so if only the buyer is the insured, regardless of whether there is a "warehouse to warehouse" clause in the insurance document, the liability of the insurance company is only "ship to warehouse". So how should we solve this kind of situation?

5. Claim
When it is found that the goods are damaged, the insured shall immediately notify the insurance company to arrange an on-site inspection (it can also be agreed with the insurance company in the contract that small claims will be exempted from on-site inspection). On-site inspection, the insured needs to record and take pictures of the property damage, and some special cases need to be reported to the administrative organ), and wait for the insurance company to judge the damage and inform the documents to be provided for claims.