Do I need shipping insurance?
Many of our customers assume that their goods are insured by default during transport. The reason is that the topics of liability and insurance are often explained in an incomprehensible way.
Liability insurance for freight forwarders
When it comes to forwarders liability insurance, there are a few points to consider before you rely on it completely. The liability conditions correspond to the “German Freight Forwarders’ Standard Terms and Conditions” and have been created for the benefit of forwarders.
The maximum liability amount
The legal liability is limited to 8.33 SDR (special drawing rights) per kilogram.
To get an approximate idea of the maximum liability amount, you can multiply the damaged shipment weight by approximately 10 Euros. With a damage weight of 100 kg, the forwarder would therefore be liable for approx. 1,000 Euros.
It is important to note that there may be a difference between the damage weight and the shipment weight. This happens if only part of the shipment is damaged.
When does the freight forwarder's liability apply?
In order for the liability insurance to cover your damage or loss, two conditions must be met.
The transport packaging
The goods must be adequately protected and packaged for shipment. In case of a defective packaging, the liability insurance for forwarders does not cover any damage that may occur.
The correct time for a damage claim
In the event of damage or loss, the consignee(s) must identify the damage or loss upon delivery and notify the driver(s). Liability insurance can only be claimed if the damage or loss is noted on the freight forwarders receipt. If no damage or loss is detected upon delivery, the burden of proof is reversed. In this case, the customer must prove that the damage or loss occurred during transport.
The shipping insurance
Cargoboard’s shipping insurance offers comprehensive and uncomplicated protection for your goods.
In the event of damage or loss, the insurance will reimburse the full value of the claim. The reimbursement is not based on the weight of the damage, as in the case of liability, but on the insured value of the goods.
Another advantage is the much faster damage compensation for insured shipments.
In addition, the conditions for the cost coverage in the event of damage or loss are much more customer-friendly than in the case of forwarders liability.
When does the shipping insurance take effect?
In order for the shipping insurance to cover your damage or loss, the following conditions must be met.
The transport packaging
When it comes to insurance, the goods must be adequately protected and packaged for transport. The shipping insurance usually does not pay for the damage incurred if the packaging was defective.
The correct time for a damage claim
In the event of damage or loss, it is helpful if the damage is receipted, as this enables the claim to be processed more quickly.
Beware of underinsurance: Why you should fully insure your goods in transit:
- The sum insured always refers to the entire goods of a shipment. Partial sums cannot be covered by transport insurance.
- If the specified sum insured is less than the value of the goods, benefits will be reduced in the event of a claim due to underinsurance.
- With the sum insured, the customer may not only insure the pure value of the goods. He must also take into account other costs such as customs costs, packaging costs, freight costs, etc.
Despite shipping insurance, the shipment must still be packaged securely for transport.
Example: The sales packaging of a television is not considered transport-safe. In addition to the sales packaging, shipping packaging is required. In this case, a sufficiently large pallet, lashing straps, as well as edge protection.
If you don’t have any experience with freight forwarding, we recommend our packaging tips page.
What is the cost of shipping insurance?
One of the main reasons we recommend shipping insurance to our customers is the relatively low cost compared to the value of the shipment. If you insure your shipment via Cargoboard, you pay 5.00 Euro per 1,000 Euro value of goods. The minimum amount is 5,50 Euros.
| Value of goods | Price shipping insurance |
|
1.000 € |
5,50 € |
| 2.000 € | 10,00 € |
| 3.000 € | 15,00 € |
| 4.000 € | 20,00 € |
| 4.500 € | 22,50 € |
What do I have to pay attention to when it comes to shipping insurance?
Please make sure that you do not ship goods with Cargoboard that are prohibited to be shipped with us. These include goods such as perishable food, explosive goods and motor vehicles. A detailed list with goods that cannot be transported can be found in our GTCs.
In addition to the listed goods in our General Terms and Conditions, there are goods that require additional consultation. Every shipment with a value of 250,000 Euros or more must be coordinated with us so that safe transport of goods can be ensured. The same applies to all shipments that are not typical commercial goods.
Among other things, this includes:
- Prototypes and exhibits
- Objects of art, paintings and antiques
- Coins, precious stones, documents, certificates
The mentioned groups of goods require reconciliation, as the non-material value often exceeds the actual material value.
If you insure your goods in the booking process without further coordination, usually only the material value of the goods is insured and not the non-material value.
Frequently asked questions
I cannot find what I am looking for. Who can I contact?
If you have any unanswered questions, you can reach us via Live Chat (bottom right), Mail, WhatsApp or by phone.
