Cargo Insurance Terms & Conditions

Standard Logistics Cargo Insurance

The insurance covers all lawful goods EXCEPT the following commodities which are excluded.

 

Excluded commodities include:
 Antiques
 Autos and Motorcycles (Unless Crated)
 Boats and Yachts
 Cash, Coins, Securities and other Negotiable Papers
 Ceramic, Marble and Granite Tiles, Blocks and Slabs
 Chinaware
 Cigarettes and other Tobacco Products
 Computer and or Electronic Components Assembled on Racks
 Computer Memory Modules and Cards
 Fine Arts
 Flowers
 Fresh Foods and other Perishables (except frozen foods in reefer trailers)
 Gaming Consoles/Systems, Handheld Electronic Devices or Electronic Games for same
 Glassware
 Jewelry; Precious Stones and Metals
 Laptop and Tablet Computers or Similar Devices
 Live Animals
 Mobile/Cellular Telephones or Similar Devices
 Personal household goods and personal effects
 Pharmaceutical drugs
 Plants
 Rolling Stock
 Windows, Plate Glass and other similar Fragile Items

IMPORTANT INSTRUCTIONS IN THE EVENT OF A CLAIM 
1. Examine Packaging and take action:
 Write comments clearly on all shipping receipts about any irregularities, even if minor
 Verify that container seal numbers match those noted on documents
 Notate when a seal is broken
 Preserve all packing, damaged goods and seals until further advised
 Retain all salvageable products until further advised
 Be as specific as possible in your documentation and take photos if possible
2. Prevent further loss or damage. For example:
 Separate wet cargo from dry cargo
 Re-pack to prevent further loss or damage
 Move goods to a secure location
3. Notify Carrier(s) immediately:
 All carriers must be notified in writing immediately to avoid time-bars releasing them from their responsibility.
 Concealed Damage must be reported in 5 days of receipt or it will be time-barred
Policy Conditions:
A. “All Risks” Unless otherwise specified below, this Policy insures new approved goods against “All Risks” of physical loss or damage from any external cause, except as excluded by the Clauses in the ‘Exclusions’ Section of this Policy. Each claim shall be subject to a deductible of USD $250.
B. Special Insuring Conditions The below listed goods insured shall be subject to special conditions. Where deductibles are listed, such deductibles shall not apply to claims for General Average, Salvage Charges or claims recoverable under FPA conditions.
1) USED AND/OR RECONDITIONED HEAVY MACHINERY AND EQUIPMENT is insured against “All Risks” of physical loss or damage from any external cause, except as excluded by the Clauses in the ‘exclusions’ Section of this Policy. However, coverage is further subject to the following: a. Excluding rust, oxidation, discoloration, marring, chipping, scratching, and cost of repainting. b. Each claim shall be subject to a deductible of $2,500. c. Claims shall be settled at fair market value of the goods transported, but not to exceed to $100,000. d. Subject to the Secondhand Replacement Clause: In the event of a claim for loss of or damage to any part or parts of the interest insured, in consequence of a peril covered by this policy, the amount recoverable hereunder shall not exceed such proportion of the cost of replacement of the part or parts lost or damaged as the insured value bears to the value of a new machine plus additional charges for forwarding and refitting the new part or parts if incurred. In no case shall the liability of Underwriters exceed the insured value of the complete article.
2) ALL OTHER USED GOODS are insured, except as excluded by the Clauses in the ‘exclusions’ section of this policy, for loss of or damage to the subjectmatter insured reasonably attributed to the risks of collision, derailment, fire, lightning, sprinkler leakage, wind, hail, flood, earthquake, landslide, volcanic eruption, aircraft, objects falling from aircraft, the rising of navigable waters, or any accident to the conveyance and/or collapse and/or subsidence of docks and/or structures, theft and/or non-delivery of an entire shipping package and to pay loss or damage caused thereby. Each claim shall be subject to a deductible of USD 2,500.
3) FROZEN FOODS are insured against “All Risks” of physical loss or damage from any external cause except as excluded by the Clauses in the ‘exclusion’ Section of this Policy, and further excluding gradual deterioration. It is however, agreed that while the goods insured are under refrigeration, this insurance is extended to cover loss, damage or deterioration due to, or caused by breakdown or stoppage of refrigerating machinery provided such breakdown or stoppage continues for a period not less than twelve (12) consecutive hours. Each claim shall be subject to a deductible of USD 2,500. Warranted by the Assured that the interest insured hereunder is in sound condition at the time of the commencement of risk.
4) STEEL AND STEEL PRODUCTS are insured against “All Risks” of physical loss or damage from any external cause, except as excluded by the Clauses in the ‘exclusion Section of this Policy, and further excluding the risks of rust, oxidation, and discoloration. Coverage for non-crated pipe, tube, rods, beams or similar merchandise to further exclude the risks of bending, twisting, and end damage. Each claim shall be subject to a deductible of USD 1,000.
In no case shall this insurance cover:
• Ordinary leakage, ordinary loss in weight or volume, or ordinary wear and tear of the goods insured;
• Loss, damage or expense attributable to willful misconduct of the Assured;
• Rust, oxidation or discoloration on unpacked and/or unprotected cargo;
• Loss of market or loss, damage, expense or deterioration arising from delay, whether caused by a peril insured against or otherwise; Shipper : Insured Value : Policy limit is USD 100,000 Origin : Pickup Date : Bill of Lading or Load Id : RIG20170803 Furniture 15870 Zentique Dry Van NORCROSS,Georgia 29484 12/13/2017 100000.00 ROSWELL,Georgia Forward Air 12/13/2017 Declaration of Insurance No. Page 2 of 2
 Loss, damage or expense caused by inherent vice or nature of the goods insured;  Insufficiency or unsuitability of packing or preparation of the goods insured to withstand the ordinary incidents of the insured transit;
 Loss, damage or expense caused by electrical, electronic and/or mechanical derangement unless the Assured is able to demonstrate that such damage is the result of a peril insured against. 
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