Cargo Insurance Risks Coverage - Comparison
S.No. | Loss Caused By or Resulting From | All Risks | FPA (Total Loss)* |
---|---|---|---|
1 | Stranding | Yes | Yes |
2 | Sinking | Yes | Yes |
3 | Burning | Yes | Yes |
4 | Collision | Yes | Yes |
5 | Faults or errors in management of the vessel | Yes | Yes |
6 | Bursting of boilers | Yes | Yes |
7 | Latent defects in hull; or machinery | Yes | Yes |
8 | Explosion | Yes | Yes |
9 | Jettison | Yes | Yes |
10 | Heavy weather | Yes | No |
11 | Seawater as a result of heavy weather | Yes | No |
12 | Freshwater | Yes | No |
13 | Improper stowage by the carrier | Yes | No |
14 | Hook damage, mud and grease | Yes | No |
15 | Theft of an entire shipping package | Yes | No |
16 | Non-Delivery of an entire shipping package | Yes | No |
17 | Pilferage | Yes | No |
18 | Leakage | Yes | No |
19 | Breakage | Yes | No |
Why AIR 7 SEAS?
Since 1986
in the business
We have over 40+ years of experience and knowledge of shipping lines serving with required certifications. We understand the minute details and requirements of the ocean freight shipment industry and strive forward to deliver the best experience to our clients.
Additional Services
We also arrange to provide security customs bond for single entry or full year validity
Single entry customs bond
The single entry bond is a particular type of customs import bond that guarantees all the required taxes, duties, and fees are paid to U.S. customs during the import of your goods.
FDA rejection coverage
We also offer FDA-rejection coverage in case your shipment gets detained in violation of FDA laws and regulations. It can help you cover the financial losses for your destroyed or explored shipment.
In-transit storage coverage
Our in-transit storage coverage extends to the temporary storage of your goods during the normal course of transit. It can help you avoid loss or damage during the storage process during the transit of goods through the rail, road, sea, or air routes.
Carnet insurance bond
We can provide a carnet insurance bond, which helps you recover both the payment of duties and taxes and the cost of the goods in the case of theft on a carnet.
Continuous customs bond
We also provide you with a continuous customs bond that covers all your shipments that are imported within one year once you purchase the continuous bond. The continuous import bond can help you through the repeated process of single-entry bonds for your shipments.
FOB coverage
The free-on-board coverage implies that we’ll cover your goods until your shipments are placed on the vessel as desired by the buyer. The marine insurance covers FOB shipping, which means delivering FOB freight using a particular route specified by you.
Exhibition/Exposition/Shows/Carnet etc.
We help you cover the transportation costs to the different exhibitions, expositions, trade shows, etc. It can minimize the hassles and troubles of safe and secure transportation of products nationally and internationally.