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 Goods-in Transit (CARGO)  Insurance

Goods-in Transit (CARGO) Insurance

You need to transport one or more cargoes? Take care of cargo security and your material interest! Do not rely on carriers’ insurance because it is not going to compensate you at 100%. By getting an insurance with us, we guarantee that you will be treated individually when you conclude a single or subscription-type policy, and you will have our full cooperation upon occurrence of an insured event.

Nutshell Info

  • Voluntary insurance intended for companies, dealing in import, export and re-export, as well as companies dealing in trade and distribution on the Republic of Bulgaria’s territory.
  • The Goods-in-Transit (Cargo) Insurance provides insurance protection for all cargo types, hauled by road, sea, air, river, rail or combined transport, against loss and/or damage as a result of occurrence of an insured event during hauling from or to any location across the world or on the Republic of Bulgaria’s territory.
Insured period

In the case of individual insurances - until the cargo is unloaded at the final destination

In the case of subscription policies - one year

Application

International carriage:

  • Coverage for cargoes during international carriage under the terms and conditions of Institute Cargo Clauses

Domestic carriage:

  • Coverage for domestic carriage within the Republic of Bulgaria under the terms and conditions of Institute Cargo Clauses

Main coverage options

Institute Cargo Clauses (A) – 1.1.2009 Cover all risks of cargo loss or damage, except the explicitly excluded ones.
Institute Cargo Clauses (В) – 1.1.2009 Cover explicitly the risks mentioned, in some cases applied to sea shipping or combined haulage.
Institute Cargo Clauses (C) – 1.1.2009 Minimum insurance coverage Widely applicable and used mainly for insuring metal, liquid or bulk cargoes, ores, coal, etc. as well as used goods/cargoes.

Additional Coverage Options

The insurance coverage may be expanded and DZI offers additional coverage of the following risks: Military risks - under the terms and conditions of Institute War Clauses (Cargo) - 1.1.09
Strikes, mutinies and civil unrests – under the terms and conditions of Institute Strikes Clauses (Cargo) - 1.1.09
Damage occurred during loading-unloading operations
Breakage due to the cargo nature, for fragile cargoes
Spoilage as a result of refrigerating installation failure for cargoes, hauled in refrigerated vehicles
Other specific risks

Additional information

What is a subscription-type insurance policy?

Insurance coverage under a subscription-type insurance policy encompasses all or particular cargo types and is concluded for a defined period.

The choice of a subscription type insurance policy provides you with several advantages::

  • a lighter regime of insurance documents’ preparation
  • preliminary negotiation of insurance conditions
  • preferential tariffs with an option to apply discounts
  • convenient schemes for insurance premium payment
How much will the insurance cost?

The insurance premium is determined depending on:

  • type of hauled cargoes
  • packagings
  • destination
  • type of transportation vehicle
  • risks covered
  • discounts and surcharges applied
Where can you conclude an insurance policy? At DZI offices, as well as with our professional partners (agents and brokers)

 

Needed documents for policy conclusion

  1. To conclude an individual Cargo policy, you need to present:
    • Filled-in Proposal-questionnaire
    • Commercial invoice
    • Transport document
  2. To conclude a Subscription-type policy, you need to present:
    • A filled-in Proposal-Questionnaire

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