If you are looking for an online quote for your Marine Cargo Insurance policy to cover your Imports, Exports and/or Domestic Transits, our experienced team are here to help!
For no-commitment quotations from our specialist panel of insurers, please just provide us with details below:
– Nature of Goods
– Value of Goods
– The Regions Goods are Going To and From
– Previous Claims/Loss History
– Other Material Circumstances or Facts
N.B. Unless otherwise stipulated, Sums Insured and Estimated Annual Sendings should represent:
- Inland Transits = Invoice Value
- Imports/Exports = Cost, Insurance and Freight plus 10%, plus Duty where applicable
- Stock = Cost, Insurance and Freight plus 10%, plus Duty where applicable for unsold stock but Invoice Value for pre-sold stock
- Buyers/Sellers Interest = Invoice Value
Please Complete Your Details Online Below To Receive Your Marine Cargo Insurance Quote/ Proposals From Our Panel Of Insurers
Marine Quote Request - Annual/Single Shipment
N.B. The 4 most common Incoterms are as follows:
Ex Works (EXW) – passing the responsibility for everything to the buyer. All the seller is required to do is make the goods available at their premises for collection by the buyer.
Free on Board (FOB) – the seller is responsible for the risk and for costs of transporting the goods up to the point that the goods are safely loaded on to the vessel. After that, the buyer assumes full responsibility.
Cost, Insurance and Freight (CIF) – the seller is contractually obliged to purchase insurance. The insurance is assigned to the buyer at the point that goods are loaded on to the vessel, when the title and risk transfer to the buyer. Although the insurance is arranged by the seller any claims for loss or damage which occur after the point of assignment are payable to the buyer. Buyers should note that under CIF the seller is required to obtain insurance only on minimum cover. In addition, the buyer assumes responsibility for the goods once the cargo has reached the buyer’s port.
Delivered Duty Paid (DDP) – the seller is responsible for the risk and for costs of transporting the goods up to the point that the goods are presented ready for unloading at the buyer’s named place. Crucially, the seller also has an obligation to clear the goods not only for export. But, also for import, to pay any duty for both export and import and to carry out all customs formalities.
N.B. Buyers and/or Sellers Contingent Interest cover can be arranged to cover your contingent financial interest in respect of any goods where you have no responsibility to insure under the terms of sale.
Details of the 11 Incoterms can be viewed via the following link: https://incodocs.com/blog/incoterms-2020-explained-the-complete-guide/