OVERBOARD: Why Marine Insurance is a Must

Shipping your vehicle to a foreign country can be a stressful experience. Between Brexit, selecting a company, and preparing—you may feel overwhelmed. However, Trans Global Auto Logistics UK LTD can help you with every step of the process, including Marine Insurance.

You may be thinking that Marine Insurance is an unnecessary expense- but the below illustrates why it’s always better to be safe than sorry.

“Cargo ship one Apus loses more than 1,800 containers in Pacific storm.”

Imagine having a vehicle in one of the 1,800 containers that went overboard. Now imagine not having insurance that would cover the cost to replace it.

A mistake many shippers make is assuming that the shipping lines have adequate insurance to cover such disasters. Unfortunately, that’s not the case. Many shipping lines will only cover up to $500—hardly enough to replace a sofa, let alone a vehicle.

The Carriage of Goods by Sea Act (“COGSA”) states, “Neither the carrier nor the ship shall in any event be or become liable for any loss or damage to or in connection with the transportation of goods in an amount exceeding $500 per package lawful money of the United States, or in case of goods not shipped in packages, per customary freight unit, or the equivalent of that sum in other currency, unless the nature and value of such goods have been declared by the shipper before shipment and inserted in the bill of lading. This declaration, if embodied in the bill of lading, shall be prima facie evidence, but shall not be conclusive on the carrier.”

Chances are that your vehicle will arrive just fine, but in the last 4 months—more than 3,000 containers have been lost at sea due to various causes.

“Severe weather and rough seas to more catastrophic and rare events like ship groundings, structural failures, and collisions can result in containers being lost at sea,” a report from the World Shipping Council reads.

So, where do you get Marine Insurance and how much does it cost? We can help provide you with solid, affordable coverage for peace of mind in the unlikely event that your vehicle is damaged.  Some vehicle insurance providers already include this coverage in your policy, so check with them first to see if you’re already covered.

All shipping quotes given by Trans Global will list the cost of this optional service. Reach out today to request your free quote.

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