International cargo transportation is regulated by numerous complicated legal acts and international conventions. These agreements limit the liability of the carrier in case of an insured event. Generally liability is determined by the cargo’s weight, which frequently does not cover the actual value of the cargo.
We recommend insuring valuable cargo and light cargo (in case of an insured event the liability limit will be considerably lower than the actual value of the cargo). Also the requirement to insure cargo is often stipulated in sale and purchase agreements.
In agreement with the customer Albacor Shipping provides additional insurance services for the full value of cargo. In case of emergencies, the insurance will compensate costs based on damage to or loss of the cargo, and will relieve the interested parties of financial losses.
Albacor Shipping closely cooperates with leading Russian insurance companies, therefore we are able to offer international transport insurance for cargo on the most favorable terms, according to international standards, including all-risk insurance. The insurance coverage can come up to 110% of the cargo value. The insurance can also cover cargo protection, customs duties and transportation costs. Insurance rates are determined by the specific terms of transportation: the type of cargo and its value, the mode of transportation and distance. Depending on these parameters, the price can vary from 0,15% to 0,8% of the cargo value.
In addition to protection and insurance, Albacor Shipping organizes armed and non-armed escorting of cargo. This service is essential for valuable and dangerous goods with special conditions of transport. Escorts provide an additional guarantee that the cargo will be delivered safely and on time.