Total Loss & All Risk Insurance
Because accidents happen.
All Risk Insurance
Here’s the basics of All Risk Insurance :
All Risk insurance is only available when shipments have been professionally packed by an Aliyah Lift Shipping agent or an approved agent.
Household goods should be insured at the replacement value in Israel.
All Risk insurance allows a claim to be made for damaged/broken and/or missing items.
The fragile to non-fragile ratio cannot exceed 10% of the value, meaning in a $10,000 policy the fragile items cannot exceed $1000.
Fine art objects and paintings valued at more than $1,000 each will be accepted for insurance only if accompanied by a qualified expert’s appraisal report.
There is a $250 deductible.
Containers Lost at Sea
Based on the most recent survey results, World Shipping Council estimates that for the combined nine year period from 2008 to 2016, on average, there were 568 containers lost at sea each year, not counting catastrophic events, and 1,582 containers lost at sea each year including catastrophic events.
On average, 64% of containers lost during this period were attributed to a catastrophic event.
Total Loss Insurance
Total Loss insurance is available for any and all shipments.
Total Loss insurance covers the following conditions:
Loss of or damage to the subject-matter insured reasonably attributable to fire or explosion; vessel or craft being stranded, grounded, sunk or capsized; overturning or derailment of land conveyance; collision or contact of vessel craft or conveyance with any external object other than water; discharge of cargo at a port of distress. Loss of or damage to the subject-matter insured caused by General Average sacrifice; jettison.
Acts of piracy are not covered in Total Loss insurance.
There is no deductible for a Total Loss policy.
Marine Insurance Policy Coverage
Insurance applications must be completed and returned 2 to 3 working days before the pick up date.
Marine insurance policies cover the following time periods:
- The first 30 days from packing/pick up before being consolidated
- The period of time it’s on the ocean
- The first 30 days from when the vessel arrives at the destination port
If you plan to keep your shipment in storage longer then 30 days then an insurance extension is required to keep your policy current and valid.
If damages occur during shipping you have 30 days from the date of delivery to initiate a claim.
Great Tips on Completing Your Application
Completing your insurance application is easy if you follow our Large-Medium-Small Attack Plan. Read about it at our blog > Security with Sanity.