Marine Insurance
Until now, the process and placement of insurance premiums has been a hit or miss proposition for the buyer. Kestrel Liner Agencies LLP automatically insures your international LCL shipment when the terms are freight collect (FOB or Ex-works). We apply a valuation formula when the supplier or forwarder has not provided our agent(s) which provides full door to door, all-risk, zero-deductible coverage.
Facts to Know
The ocean carrier has limited liability governed by International laws. In most cases the liability is limited to US$500 per package for which palletized cargo and Container loads are considered as one package.
- All risk/zero dollar deductible coverage will apply for all shipments under the standard policy issued by Seven Seas Insurance.
- Full Container (FCL) is insured only with request in writing with declared value.
- Personal effects must be new. Used personal effects cannot be insured.
- Minimum insurance premium: $35.00
- Premium is applied to the ocean bill of lading. Please request certificate for Letter of Credit requirements.
Covered Risks- Partial List
- Theft
- Sinking
- Breakage
- Heavy weather
- Burning
- Non-delivery
- Stranding
- Pilferage
- Acts of God
- Strikes
- Riots & Civil Commotion
- Container sweat
- Shortage
- Jettison
- Improper Stowage
- War risk
- Fresh water/Sea water Steamer Penalties
- Capture & Seizure
- Condensation
Please contact Kestrel for more details or quotations for projects, new vehicles or other special requirements.
