Shipping Insurance

          A. It is essential for the owner of goods to have Shipping Insurance Protection against financial loss, that may result from a Freight Shipment loss or damage; Shipping goods from one country to another of 170 countries requires broad marine insurance protection.

Goods can be insured during transport via Ocean, Air, Train, Truck, etc. Shipping may be international (Incorporating both ocean marine and inland marine coverages; from seller's warehouse to buyer's place of business); or just ocean marine coverages from seller's port of embarkation to buyer's port.). Inland marine shipments can be solely domestic.


Cover Agency Ltd. can package marine shipping insurance with protection for the goods while they are temporarily in the freight forwarder's warehouse.

Marine insurance can begin at whatever point the insured becomes the owner of the shipment, and has an “insurable interest” in the goods being transported.

              B. Inland Marine Insurance for most forms of Equipment may be comprehensive insurance coverage. This includes heavy duty contractors equipment.

All Risk forms of Ocean Marine and Inland Marine Insurance are frequently available.

Examples:

1. A wholesaler in Chicago, Illinois, is shipping $2,000,000 in his products to a retail store in Atlanta, Georgia. Wholesaler wants coverage until delivery at the buyer’s warehouse. Wholesaler purchases marine insurance from a broker, that is effective when wholesaler takes delivery of the goods from the manufacturer’s warehouse on a truck. The goods remain insured until they are delivered to the buyer at his Warehouse in Atlanta.  The insurance policy is an all risk policy form, protecting against almost all possible perils.

2. Importer purchases auto parts from a manufacturer in China. Importer hires a trucking company to pick up the goods, and deliver them to the port. Importer also arranges for a ship to transport the parts across the ocean, and then to truck them to importers warehouse. This entire shipment may be eligible for marine insurance for its entire trip, even for insurance coverage when it is stored in the Importer’s warehouse, waiting for pickup. Note that the auto parts would not be insured until they are first delivered to the trucking company in China. The parts are not insured while owned by the manufacturer.

We can provide rapid binding of Ocean Marine and Motor Truck Cargo, Inland Marine Insurance, frequently using an online automated system to rate and bind cargo coverage; for most Ocean Marine Shipping, and Inland Marine Shipment we shall provide coverage from high quality, well known insurance companies.

For additional information, or a quote, please contact:

 Priscilla Li , Vice President

Cover Agency, Ltd

Email:   priscillali@coveragency.biz

Direct: 347-886-9778

Office: 718-591-2400