QUESTIONS & ANSWERS
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- Engineering insurance
- Liability insurance
- Marine Insurance
- Other
- Personal insurance
- Property insurance
Here are some types of shipping coverage:
– Legal liability: This is your most basic insurance for many international moving companies, where your goods are automatically covered under a legal liability standard based on what the transportation industry sets. Most of the time, the ocean carrier is responsible for approximately $500 per package (coverage for air shipments is determined by weight). This insurance does not cover partial loss.
– Total loss coverage: Your entire shipment must be lost, destroyed or damaged for this type of coverage to apply, and does not cover any partial loss or damage.
– All-Risk Cargo Insurance: The safest (and most expensive) bet when it comes to shipping your goods covers any possible loss or damage during ocean transit. Usually, this includes water or fire damage, theft, partial loss, breakage and more. Additionally, it covers non-delivery of goods and improper stowage by the shipping company This type of insurance is recommended for all household goods and automobile shipments.
– Legal liability: This is your most basic insurance for many international moving companies, where your goods are automatically covered under a legal liability standard based on what the transportation industry sets. Most of the time, the ocean carrier is responsible for approximately $500 per package (coverage for air shipments is determined by weight). This insurance does not cover partial loss.
– Total loss coverage: Your entire shipment must be lost, destroyed or damaged for this type of coverage to apply, and does not cover any partial loss or damage.
– All-Risk Cargo Insurance: The safest (and most expensive) bet when it comes to shipping your goods covers any possible loss or damage during ocean transit. Usually, this includes water or fire damage, theft, partial loss, breakage and more. Additionally, it covers non-delivery of goods and improper stowage by the shipping company This type of insurance is recommended for all household goods and automobile shipments.
Shipping insurance covers your packages that are lost, stolen, or damaged during transit. It reimburses you for the replacement cost of the item and shipping cost if anything does happen to your packages during shipping.
International travel health insurance policies will generally provide coverage for all countries except the country in which you live. However, there may be exclusions in cases where the destination of travel may be the subject of war and terrorism.
Built-in electronics are typically covered. Portables and mysterious disappearance are typically not covered unless specified and/or unless there are visible signs of forced entry or removal.
Marine insurance policies typically cover your vessel while it is being used by someone with your permission. The operator of the boat is typically not covered for injury to himself, but liability toward others is typically covered, as is the risk of damage to the boat.
Yes, but for limited amounts of coverage. You may want to consider buying a Personal Articles Floater which provides all risk coverage for theft and mysterious disappearance. This will also reimburse you for misfortunes, like a stone that falls out of a ring.
The Contractors All Risks Policy covers accidental and unforeseen damages – it does not cover damages which may be considered as inevitable having regard to the work to be executed or the planned method of execution. We consider the following examples to fall outside the scope of cover:
– Settlement cracks or cracks in wall tiles
– Settlement in floor tiling
– Water penetration into properties adjacent or adjoining the contract site (whether owned by the site owners or otherwise) unless adequate precautionary measures have been taken
– Damages caused to rubble walls
– Damages resulting in wells or swimming pools
– Existing damage prior to commencement of contract works
– Settlement cracks or cracks in wall tiles
– Settlement in floor tiling
– Water penetration into properties adjacent or adjoining the contract site (whether owned by the site owners or otherwise) unless adequate precautionary measures have been taken
– Damages caused to rubble walls
– Damages resulting in wells or swimming pools
– Existing damage prior to commencement of contract works
Errors & omissions insurance provides coverage for people who give advice, make educated recommendations, design solutions or represent the needs of others. “E&O” is also referred to as professional liability or malpractice insurance. This type of liability insurance would cover you and your employees in the event someone claims you incorrectly performed or failed to perform your professional duties.
No. When you apply for a fire insurance policy, the current market value of the property or the Reinstatement value of the property, depending upon the basis of the Sum Insured, should be accurately calculated for arriving at the correct amount to be insured. The compensation payable when a covered loss or damage occurs shall be based on whether or not the property has been insured adequately. If the amount insured is excessive, it will mean overpayment of unnecessary premium; if the amount insured is inadequate you will receive amounts in proportion to the market value only.
The sum insured of the contract value should represent the total contract value including the estimated cost of labour charges and cost of materials up to shell form. Should you wish to extend the policy up to finished form, the cost of the finishing should also be included.