What should we know about the transport insurance?

Today we will continue to discuss the shipping insurance. As we mentioned in our previous article, we are such important issues as the conditions of the insurance contract, the validity of the insurance contract and the factors that influence the rate of subscription approach.

experience

CFO of miracle movers, Toronto movers – we enter into insurance contracts with insurance cover, which depends on the types of freight and delivery. For example, to exclude from ordinary seamen war risk policy and right to strike from the standard warranty. Therefore, to extend the standard range, it is necessary, additional clauses, namely the Institute and the Institute war clauses clauses strikes to use to cover these risks. It goes without saying that the increased cost of insurance in this case, with 0.03 to 0.05%.

Executive Director of the wonders relocation, moving companies – special clauses are often used in insurance contracts. For example, if insurance transport of logs or wood, we are responsible for changes in the quality characteristics of the load caused by moisture. In the case of insurance of the cargo, which requires special conditions of temperature, the standard contract terms, this usually does not compensate for the risks of temperature. This compensation may be included in the agreement for the additional costs.

term of the agreement

insurance policies vary depending on the duration of their validity. Standard for all insurance companies, a single insurance agreement, valid for the transport and transfer of certain operating from 30 to 60 days from the date the money to the account of the company insurance. In this term of the insured the insurance company have confirmed documents that the movement has made (invoice, contract with the agent) or documentation supporting why the transport was delayed or impossible. In this case, the insurance will reimburse the money paid as insurance premiums, retaining only a commission in the agreement. Otherwise the agreement is void and the premium is not refundable. Therefore miracle movers advise professionals office movers to take seriously the conditions of supply.

When sending periodic homogeneous parts, it is easier to obtain a general agreement of the insurance for these items (usually it is concluded for a period of one year with possibility of extension) to close. These agreements you see the name of the charge, the type of transport, insurance prices, payment terms and other details of the agreement. A general agreement can sometimes contain a clause of the insurer or apply multiplication factor reduction in insurance benefits in the event of shipping changed conditions. Miracle Moving, Mover Toronto in it for their regular customers in power companies.

inform the insurance for each element (the type of communication is provided in the contract) within a day of cargo shipping and within 24 hours of the insurance company to concrete political issues of delivery and the bill establishes the payment of insurance premiums. regular payments on the insurance premium is possible if money is transferred, for example, per month. In this case, called “slip” which is made up of each payment to be defined in the agreement instead of politics. Insurance can be a discount of 30% of the cost of insurance customers, contracts for a year in power. Miracle Moving to negotiate on moving the headquarters maximum discount for regular customers of companies.

miracle movers relocation of offices professionals describe the factors that influence the rate of subscription (insurance premiums).

Ratio, which depends mainly on the insurance paid for by the nature of the cargo, route and means of transport must be. Core index to calculate the insurance premium, the cost of freight, said in the agreement, invoice or price list of the manufacturer.

insurance company takes into account all possible risks in the transport of freight. It is estimated that more goods once, the greater the risk and calculate the price of insurance. Therefore confirm to reduce the price of the insurance customer has documentation that the goods are delivered safely and the risk of occurrence of the event insurance is very low there. The documents must state that the cargo is packed quality is protected and is (needed for example for the transport of flowers in a special refrigerator) with the corresponding vehicle. For a more accurate estimate of the insurer, transport units, inspectors may apply.

It is possible to reduce the price of insurance by the franchise agreement. It is reasonable to use the franchise if the person believes that the collection of evidence is much more expensive than the amount of compensation (in the case of low losses, it is foolish to seek compensation). This condition is often used, for example for the transport insurance glass (little damage occurs anyway, but it can not be proved at all).

It is also possible to reduce the amount of insurance premium if the cargo is insured for a sum less than its actual cost. In this case, the premium goes down, but if the insured event occurs, reduces the amount of compensation insurance in proportion to the cost of freight.

In our next article we will discuss how to obtain insurance.