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The norm in the market is to buy comprehensive cover as per the Institute Cargo Clauses (A). This type of cover caters for physical loss or damage to your cargo including general average and salvage claims. Cover is always subject to proper assessment of the risk subject to terms and conditions as imposed by the underwriter taking on the risk.

a) Losses due to the wilful misconduct of the insured
b) Inevitable losses such as ordinary loss in weight or volume, wear or tear
c) Losses due to insufficient or inadequate packing cargo or stowage of the container
d) Losses due to the inherent nature of the product such as rust, oxidation, discolouration, sprouting, mould
e) Losses as a result of delay
f) Losses as a result of any weapon of war employing nuclear, atomic or radioactive force or matter

Yes, your Marine Insurance policy covers shipments per ocean, air, road and rail freight.

General Average is a legal principle of Maritime Law whereby all stakeholders in a sea venture proportionally share any losses resulting from a voluntary sacrifice of part of the ship or cargo to save the maritime adventure.

Incoterms (International Commercial Terms) are a set of rules which pre-defines the responsibilities of the seller and buyer for the delivery of goods under a sales contract. They are designed to explain the cost, risk and tasks associated with the global transportation of goods and provides rules and guidance to exporters, importers, insurance companies and all involved in international trade.

The basis of valuation is the agreed basis for determining the value to insure for:
- Exports (CIF + 10%) = Suppliers Invoice value + Total Freight Invoice + 10%
- Imports (Delivered Cost + 10%) = Suppliers Invoice Value + Freight Invoice (Inclusive of duties but excluding VAT) + 10%
- Local Distribution = Selling Price