Whether you are buying or selling goods from or to the international market, there is always a risk that your cargo may possibly be damaged, lost or delayed in transit. Like most people in the supply chain, Shipping Companies and Freight Forwarders tend to operate under Conditions of Carriage which limit their liability in cases of loss, damage or delay.
George Baker (Shipping) Ltd trade under BIFA terms and conditions for goods in transit, UKWA terms and conditions for goods in storage in the UK, and RHA conditions for goods carried by road in the UK.
Traders should never assume that another party has made the necessary arrangements for them and never expect that their goods are automatically insured on an ‘all risks’ basis whilst in transit or in third party storage. Traders should therefore arrange their own insurance against loss, damage or delay in transit because the responsibility to do so lies with the owner of the goods.
Established traders regularly importing or exporting goods typically have an annual marine cargo policy in place providing the comprehensive cover needed. Companies or private individuals shipping on an infrequent or ‘one off’ basis should seriously consider a specific single policy to cover their shipment which can easily be arranged with a telephone call to an Insurance Broker such as IRS.
George Baker (Shipping) Ltd cannot sell insurance cover directly to a shipper.
Please note that it is unlikely that the level of cover provided within a carrier’s insurance will cover full replacement value of the goods.