Primary Insurance – Cargo Insurance

Moving cargo around the world can be a very difficult to arrange, acquiring the correct insurance cover can be an even bigger task. Most cargo insurance companies insure your goods by their weight and not by their actual value. This can be very worrying when it comes to your household contents. Your crystal glass is going to weigh a lot less than your sofa, but its value is going to far outweigh that of replacing a sofa.

There is light at the end of the tunnel though. By doing a little research on the Internet you can find specialist insurance companies that will offer full replacement value. They can offer what is known as Primary Insurance Cover and not the regular insurance known as Contingent Cover that most companies offer.

It doesn’t matter whether you’re moving by sea, land or air, companies that use Contingent Cover will only pay out a very small amount per pound for goods shipped by land. Goods going by sea will be limited to normally a set amount and those by air are insured by the kilogram. In total, it will not add up to the true value of what you’re shipping and by law that is all they are liable to pay you. This type of insurance is totally reliant on what the actual carriers legal liabilities are as defined in their terms and conditions. It is possible to avail of a higher cover but, this comes with a higher price to pay and most will still not cover high risk items such as artwork, jewelry and electronic items. With this type of cover you run the risk of a very small return for your losses.

Primary Insurance Cover will repay you for actual losses. They pay out on the real value of your goods and not by its weight. They will cover almost every type of item even those deemed high risk. They will use your choice of carrier whether it’s by sea, land or air going to or coming from any country in the world (with a few obvious exceptions). Unlike Contingent Cover, Primary Cover overrides even the carrier’s liability no matter what their terms and conditions are.

Primary Cargo Insurance is gained by dealing directly with insurance companies that are given the highest ratings by independent insurance experts. They are rated for their financial integrity, payment for claims and how they meet their obligations to each and every policy holder. This offers a lot of peace of mind for the holder knowing that the company can pay out on any claim amount. They achieve this by having underwriters whose specialty is in dealing with cargo and the risks that are involved whether it’s complete loss, war or even strikes.

This type of cover is normally offered by freight logistic experts and not insurance brokers. They can deal directly with underwriters hence, gaining lower costs which they then pass on to their paying clients.
With a little time spent on the Internet you can get your quote, fill out the online order form, submit and you’re covered for the real value of your goods. They will even generate your insurance certificate online and all you have to do is print it.