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Annual cargo policies work well for shippers who make regular movements worldwide with a healthy claim history. Providing insurance cover for all their movements over a year an annual policy can work out as a value for money alternative to product or shipment specific policies. They do have some drawbacks as the administration of these policies is a little higher and payment is required upfront for an annual policy.
These policies are very popular with major shippers and manufacturers of medium value products whereby the shipping department can control the supply chain safe in the knowledge that all their shipments are covered. Annual general policies, in the main, include insurance cover for General Average. A shipping cost which we see many shippers falling foul of as it occurs intermittently but we have seen an upturn in general average over recent years.
If you need any more information on annual general policies or you would like us to assess which would be better for your business, Annual general cover against shipment specific cover give Mark a call on 0161 498 4908.
If you wish to arrange insurance for small volumes of traffic or a ‘one-off’ movement of freight, then product/ route specific insurance is the most appropriate product.
Product/route specific insurance has the following characteristics:
Cargo Insurance services handle cargo insurance for letter of credit shipments, both import and export around the world. With fully trained staff who understand and appreciate the complexities of UCP600 and letter of credit terminology we are the cargo insurance company to satisfy your letter of credit needs.
General insurance against Letter of Credit Cargo Insurance
Cargo Insurance Services will happily check your letter of credit to ensure our insurance certificate complies with your letter of credit.
Cargo Insurance Services can go one better than handling just your cargo insurance needs in relation to Letter of Credit shipments. We have a dedicated division which can quote you for taking over the whole process of a letter of credit. From raising an initial Letter of Credit to ensuring all your documentation fully complies. Working with your suppliers and freight-forwarding company to ensure that they comply with a letter of credit on a case-by-case basis.
At a time when companies are looking to reduced overheads Cargo Insurance Services can help by being that bridge between your shipping department, freight forwarder and bank. Whether it be sub-contracting the L/C checking to ensure that your suppliers are complying with the terms of an L/C are met, or just providing cargo insurance documentation which complies with the terms of your L/C.
Give us a call today on 0161 498 4908 to find out what we can do for you.