Insurance
ACE Logistics helps their customers to protect their cargo from inconveniences, by offering additional cargo insurance for shipments.
In the case of transportation of goods, the loss of goods or decrease in their value is covered by the limited liability of the carrier, for which the amount is dependant on the mode of specific transportation.
In addition to the restricted rates of compensation, the responsibility of the carrier only includes damage, which has taken place due to the faults of the carrier. The carrier is also not responsible, if damage is caused by circumstances which the carrier could not avoid (e.g. robbery).
SDR rates (special drawing rights)
- in air transport, the maximum rate is 26 SDR per kg
- in road transport, the maximum rate is 8,33 SDR per kg
- in maritime transport, the maximum rate is 2 SDR per kg or 666,67 SDR per unit whereas the basis for such calculation is the highest value.
- in rail transport, carriers liability is restricted to the maximum of 2 SDR per gross kg;
We recommend to take full carriage insurance for your goods:
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- if the value of your goods exceeds the liability of the carrier
- if you want insurance for situations, where the carrier is not responsible for the damage of goods
The cargo insurance covers all risks according to the stipulations of ICC(A). Insurance may be concluded for one consignment (single policy), or customers can apply for an open policy for a certain period of time (e.g. a year), for the transport of all cargo during this given period. If the customer does not want to insure goods against all risks, it is possible to have them insured on restricted conditions, against specific risks (e.g. traffic accident, fire, theft, etc.). The insurance of cargo according to restricted insurance coverage (and consequently, cheaper) is carried out on the basis of clauses ICC (C) and ICC (B).
ICC conditions
ICC(C) conditions cover the main transport risks (traffic accidents, fire, explosion, shipwrecks) and are perfect for road transport (incl. roll on/roll off ferries).
ICC(B) conditions cover more risks and are suitable for the carriage of goods, when part of the route involves reloading on cargo vessels (e.g. container vessels).
It is possible to add single risks to both the above-mentioned sets of conditions, for instance, the theft of goods, robbery, loss or vandalism.
ICC(C) and ICC(B) are both cheaper for the customer, but they also cover a smaller number of risks (damage has to be caused by a certain risk). ICC(A) clause, on the contrary, has a remarkably wider coverage – the risk, due to which the damage takes place, is not important (also known as all risk insurance).
The price for cargo insurance depends on the route, type of transportation, package, the type of goods, and the price.
It is relevant to draw attention to the fact that in both cases – regarding cargo insurance and the liability of carrier and freight forwarder – neither the insurance company nor the transport company shall be responsible for damage under the following circumstances:
- if the packaging of goods is not suitable for the transportation of goods (this is traditionally the risk of both the producer and the consignor);
- if goods are damaged due to their peculiar characteristics (e. g evaporation) or due to force majeure.
Good to know:
ACE Logistics acts as insurance intermediator, therefore the parties of the insurance contract will be the customer and the insurance company.