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Cargo insurance

About Cargo insurance

Purchase or sale of goods transactions entail a lengthy period during which the goods are no longer in the seller’s possession but are not yet in the buyer’s either. This phase, during which neither the seller nor the buyer has influence over the items’ fate, happens during the goods’ transportation. Freight forwarding is a mechanical procedure that frequently exposes the items and their packaging to a variety of environments. While freight forwarding has gotten more secure in recent years and most goods are delivered without harm, such unwanted scenarios can occur. While the carrier is obviously liable for any damage to the goods or losses caused by its negligence during transit, the carrier’s liability is restricted by applicable law.

Insurance policy and policyholder must to sign.

Professional insurance services for cargo

NIKSI Group provides various types of freight insurance as well as insurance-related services such as the presence of an insurance expert (surveyor) at each stage of shipping. The open-policy arrangement between our company and the insurer empowers NIKSI Group specialists to issue cargo insurance policies on their own, ensuring that our customers spend as little time as possible acquiring cargo insurance. Freight insurance policies are written and provided by the same NIKSI Group specialist who handles your freight forwarding. It highlights once again the convenience and speed with which this service operates.

Insurance brokers

Cargo insurance policies

Carriers make every effort to prevent the theft, loss, or damage of items that could result in financial loss to their owner. Additionally, there is always the chance of criminal activity or an unlucky set of circumstances. Purchasers or sellers (depending on the terms of delivery) utilize insurance companies to protect themselves against financial losses. NIKSI Group insures freight by road against the following risks:

  • Insurance coverage for all hazards associated with cargo

 Cargo insurance against all risks: this ensures that you will be paid for any damage to your goods that occurs during transit.

  • Insurance of cargo against specified risks

Cargo insurance against specified risks: in this instance, damages will be reimbursed only if they are incurred as a result of the events specified in your insurance policy.

 

Depending on the mode of transit, the carrier’s liability in the event of cargo loss, damage, or destruction varies. The carrier’s obligation for road freight is 8.33 SDR per gross kilogram of damaged/lost cargo per gross kilogram of damaged/lost cargo. 1 SDR is about EUR 10 in value (the value varies depending on the current SDR rate). If the value of your cargo exceeds this compensation amount, additional insurance is suggested. This can be accomplished by contacting our specialists, who will happily assist you in preparing a full-value insurance coverage for your cargo in a matter of minutes.

What Our Customer Say

"Latvia's successful participation in Munich Expo in the Germany was made possible by a professional transport company and its personnel. The business was helpful, supplied the greatest options, accommodated all of our requirements, and delivered on their promises on time.
Caroline Thiemt
EXPO MUNICH DIRECTOR

Transporters with a solid track record

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