« Sinking container ship
"You need insurance for ‘peace of mind’!"
Shipment Protection – Marine Transit Insurance Cover.
Why do you need insurance? The simple answer is for peace of mind. The function of this type of insurance is quite clear: To cover your personal property or commercial consignment in case of accidents, piracy, bad weather conditions, acts of God or other unexpected situations when your goods are transported from point of origin to final destination.
Sinking container ships
You need insurance because all carriers’ liabilities are strictly limited and will only pay out at a very low level of compensation in relation to the actual value of the goods. Carriers legal liability and their terms and conditions are based on the weight of the goods this will govern any claims that may occur and as a guide present rates of compensation for total loss would be just a few £ pounds per kilo.
For a fuller explanation of Marine insurance please see the Wikipedia page here
Basically you need to insure your shipment for full replacement value at destination including all the shipping costs which is known as C+F (costs of goods + freight costs). Without proper cover you financial risk with loss and damage are strictly limited within the carriers and Lvt Group LimitedLtd terms and conditions.
We are able to provide a full range of insurance products and can suggest the best policy suited to your particular shipment. Please talk to our quotes team for further information and a specific quote for your particular shipment.
For a no obligation advice or a free quote CALL +372 602 7634 - or get an online quote