If you’re relying on your logistics partner or transport company to arrange insurance for your freight or goods in transit, chances are you have limited protection and/or you are paying too much for your cover!
At Insync, we provide specialist and cost effective cargo insurance for both single one off shipments, or all your annual sendings in one simple policy.
Premiums start from as low as £75.00 (plus IPT) for a single shipment, or £250.00 (plus IPT) for annual cover, with instant quotations and cover available for shipment limits up to £20m.
Our cargo cover provides protection for goods in transit on an all-risks basis by road, rail, sea or air, including transit within the UK and to and/or from countries worldwide.
In addition, goods can be protected whilst held in a warehouse or storage facility on a stock-throughout basis.
All Risks Cover includes:
UK Transits and Stock throughouts and storage cover
Tailored clauses to meet specific exposures in worldwide territories (inc. war risk)
Cover for tools or samples
Exhibition cover (Worldwide)
Airfrieght Replacement cover
Contingent Interest cover (where you have a contingent financial interest in goods)
A shipment of new vehicles is impacted by high seas and the vehicle paintwork is severely damaged by salt water
£100,000 shipment of clothing from China suffers a fire at a warehouse location
A vehicle carrying grain is involved in a motorway accident causing loss of £75,000 in stock
Specialist cargo and transit wording tailored to your requirments
Flexible single shipment or annual cover
High risk goods and locations
Instant quotations - cover and policy documents in minutes
Flexible cover & monthly payments – just pay for the sections you need
Expert advice from cargo insurance specialists
Personal – Digital servicing AND your own dedicated Account Manager
The key when arranging insurance for your goods is to understand your legal responsibility as part of your contract as either the owner, purchaser or seller of the goods. Legal terms are often used to reflect your contractual responsibiity and this may determine how cover is arranged:
Free on Board (FOB) – If goods are shipped on an FOB basis, the sellers responsibility ends when a carrier takes possession of them. For sea shipments, the sellers responsibility ends when the merchandise is placed safely on the vessel and/or when a bill of lading has been issued. The BUYER is then responsible for the goods from that point on.
Cost and Freight (C&F) – If goods are sold under a C&F contract, the BUYER must arrange cargo insurance for the goods as the price paid to the seller includes the cost of the goods, together with freight / shipping charges but NOT insurance.
Cost, Insurance, and Freight (CIF) – If goods are sold under a CIF contract, the SELLER must obtain cargo insurance on the goods, since the contractual price paid by the buyer includes the cost of the goods, insurance and freight / shipping charges.
Free Alongside (FAS) – If goods are shipped using FAS conditions, the sellers responsibiity ends when the goods are placed at the dock from where the vessel will be loaded. Traditionally this was a barge, or other vessel brought alongside the shipping vessel of the transit, hence the term Free Alongside.
Insync Insurance Solutions Ltd
9 Albany Park, Cabot Lane
Poole, Dorset BH17 7BX
t. 01200 309516
© Insync Insurance Solutions Ltd 2021 All rights reserved. Insync Insurance Solutions Ltd is authorised & regulated by the Financial Conduct Authority where our reference number is 766691. Our registered office is 7th Floor, Corn Exchange, 55 Mark Lane, London, EC3R 7NE and we are registered in England under company number 08810662. Should you have cause to complain, and you are not satisfied with our response to your complaint, you may be able to refer it to the Financial Ombudsman Service, which can be contacted as follows: The Financial Ombudsman Service Exchange Tower, London, E14 9SR | Tel: 0800 023 4567 or 0300 123 9 123 | www.financial-ombudsman.org.uk | Privacy Notice | Terms Of Business