A shipment including all-risk transport insurance offers peace of mind and financial protection for valuable goods in transit. It includes in the vast majority of cases a 100% guarantee that, in case of loss, damage or theft of your shipment, our insurance company AON will cover the costs based on the terms of the goods transport insurance. After you take out additional goods transport insurance, the shipment will be handled and transported with care according to the chosen shipping option. In case of loss, damage or theft, we submit an insurance claim to our insurance company and arrange everything quickly for you. Incidentally, much damage can be easily prevented by packing the shipment in a transport worthy manner. Check out our packing advice page and take advantage of it.
The financial importance of goods transport insurance
Below are two examples in which we clearly describe the differences between taking out goods transport insurance or not.
1. For transport that takes place entirely within the Netherlands, AVC conditions are used. AVC stands for General Transport Conditions. The carrier's liability is limited to a maximum of 3.40 euros per kilogram of transported weight.
Shipment within the Netherlands: You have a machine transported from Rotterdam to Amsterdam worth 50000 euros with a total weight of 300 kilograms. In case of damage, you can hold the carrier liable for: 300 kg x 3.40 euros = 1020 euros payout instead of 50000 euros. The premium for this shipment would be 25.00 euros plus 17.50 euros in administration costs, with the financial risk fully covered through our transport insurance business.
2. The CMR Convention applies to cross-border transport within Europe. This convention also assumes a fee per kilogram of weight. The fee is 8.33 SDR. An SDR fluctuates and depends on several factors. Currently, the rate fluctuates around 9.50 euros / 10.00 euros per kilogram of transported weight.
International transport: You transport the same machine but now from Utrecht to Berlin. The maximum allowance is 300 kg x 10.00 euros (8.33 SDR) = 3000 euros allowance instead of 50000 euros. The premium for this shipment would be 25.00 euros plus 17.50 euros administrative costs where the financial risk would be fully covered through our transport insurance.
To avoid facing a gap between value and compensation, you can choose to take out transport insurance through us. Get advice from our experts and ask about the options for insuring a shipment quickly and inexpensively.
Freightwatch is forwarder and member of Fenex, the Dutch organisation for forwarding and logistics
Freightwatch Benelux BV (forwarder) declares the Dutch Forwarding Conditions applicable to its activities. These conditions govern the contractual relationship between the Freight Forwarder and its Principal, including responsibilities in the event of damage to or loss of the goods transported. The Freight Forwarder's liability shall in all cases be limited to 10,000 SDR per event or series of events with one and the same cause of damage. Subject to the aforementioned limit, in case of damage impairment or loss of the goods included in the contract, the liability shall be further limited to 4 SDR per kg of gross weight damaged impaired or lost.
The cargo owner will therefore not be compensated or not fully compensated in case of damage to or loss of his goods by the forwarder. The carriers engaged also usually have their liability limited and capped. It is therefore common for the owner of the cargo to take out additional transport insurance for the full value of the goods. As an additional service, the freight forwarder can take out such insurance on behalf of its customer. An additional advantage is that commercial problems associated with the often expensive and lengthy liability claims can be avoided this way.