Guide to International Air Cargo Insurance Purchase and Cargo Damage Compensation Process

International Air Cargo Insurance Purchase and Cargo Damage Compensation Process

With the growing prosperity of international trade, international air cargo transportation has become an increasingly popular choice for many businesses. However, risks are inevitable during the transportation process, and cargo damage is the most common issue. To mitigate these risks, purchasing international air cargo insurance has become a necessary measure. This article will provide a detailed introduction to the methods of purchasing international air cargo insurance and the compensation process for cargo damage, helping you better protect the safety of your goods.

I. Purchase of International Air Cargo Insurance

1. Selecting an Insurance Company Before purchasing insurance, you need to choose a reputable and professional insurance company. You can learn about the coverage range, premium prices, and claims efficiency of various companies through online searches or recommendations from friends, ultimately selecting the one that best suits your needs.

2. Understanding Insurance Types There are many types of international air cargo insurance, including basic insurance, comprehensive insurance, and special insurance. You should select the most suitable type based on the nature of the goods, the transport route, and the risk level.

3. Filling Out the Application Form The application form is a written request submitted by the policyholder to the insurance company. Carefully read all terms on the form to ensure you understand and agree with them, then fill it out as required and submit it to the insurance company.

4. Paying the Premium After submitting the application form, the insurance company will calculate the corresponding premium based on the selected insurance type and amount. You must pay the premium according to the agreed time and keep the insurance receipt for future use in case of a claim.

II. Cargo Damage Compensation Process

1. Confirming Cargo Damage When cargo damage occurs during transportation, the recipient should immediately file a claim with the airline or logistics company and retain relevant evidence, such as photos of the damaged goods and inspection reports.

2. Submitting a Claim Application Within the validity period of the insurance, the recipient should submit the claim application to the insurance company. The application should include details about the damage, the value of the goods, transportation information, insurance details, and be signed for confirmation.

3. Reviewing Claim Materials The insurance company will review whether the submitted claim application and materials meet the requirements. If the materials are incomplete or inconsistent with the facts, the insurance company may request the applicant to supplement or resubmit the relevant materials.

4. Calculation and Payment Based on the review results, the insurance company will calculate the insured amount and make the payment. If the claimed damage falls within the scope of the insurance and the facts are clear, the insurance company will compensate according to the contract terms.

5. Closing the Case and Follow-up Handling After the payment is completed, the cargo damage compensation process ends. For multiple shipments resulting in multiple damages, the insurance company may require the recipient to provide sub-bills and master bills to facilitate better handling of subsequent compensation matters.

In summary, purchasing international air cargo insurance is an important measure to reduce the risks of cargo transportation. When buying insurance, you need to select a professional insurance company, understand the insurance types, fill out the application form, and pay the premium. When cargo damage occurs, you need to preserve relevant evidence and submit a claim application within the insurance validity period. The insurance company will calculate and compensate based on the review results, requiring patience and attention throughout the process to ensure your interests are fully protected.