Open cover · delivery terms · sanctions clauses
Transport insurance through Chubb
Chubb comes into view for us for cargo flows that cross borders and pass through several carriers. The question is then rarely whether there is cover, but at which point in the chain it begins and where it ends.
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- Personal 072 - 509 24 56, weekdays 9–17
Deze pagina in het Nederlands: Transportverzekering via Chubb.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
Finass brokers Chubb's business offering and is not tied to this company. We compare several insurers objectively; which quotation stands up follows from your flow of goods, not from the name on the policy. We mainly use this insurer for companies that import and export as a matter of course, with consignments that change carrier on the way and with sites or customers outside the Netherlands.
Transport insurance is a first-party cover on the goods themselves: damaged or missing cargo is paid for without your having to show first who was at fault. That is why exporters take it out alongside their recovery against the carrier. If you work with fixed consignments within the Netherlands, ordinary goods in transit insurance is often enough; if you carry only your own business assets, that belongs on own goods in transit insurance.
With international flows the conversation turns on three things: the delivery term you agreed with your buyer and the moment at which the risk passes as a result, the a police report of consignments or turnover under an open contract, and the area of cover including the countries that fall outside the policy under a sanctions provision. What is involved for distant destinations is set out on international goods transport.
This page deals with one situation. The full overview is on Compare goods in transit insurance.
What to look out for
Four provisions that are more often decisive for international cargo flows than the conditions chosen.
The delivery term determines where your risk begins
If you sell ex works, your buyer bears the risk from the loading bay. If you deliver to the door, it stays with you until unloading. A policy that only starts at the seaport leaves the road leg beforehand uninsured. Set out alongside each sales term which part of the journey your own cover deals with, and whether your buyer really is insured for what he says he insures.
An open contract calls for complete declaration
Under an annual contract you declare consignments or the value carried periodically. If you forget a consignment, a new product group or a new destination, the risk has in effect not been declared. That engages the duty of disclosure of Article 7:928 of the Dutch Civil Code, with the consequences of Article 7:930 of the Dutch Civil Code: a reduced payment, or no payment at all if the insurer would never have accepted the risk.
The nature of the goods themselves is excluded
Rust, drying out, fermentation, tainting and breakage arising from the properties of the product come under inherent defect and stay outside the cover, as does unsound packaging by you or on your behalf. Loss arising solely from delay is excluded too, even where the delay results from a covered event. Temperature-sensitive cargo calls for a separate refrigeration clause with requirements as to recording.
Sanctions, embargoes and fines
Virtually every internationally operating insurer applies a sanctions clause: as soon as a consignment, party or destination comes under a sanctions regime, there is no cover and no payment is made. Check destinations and counterparties in advance. Customs levies, import duties and fines are not insured loss. Only the value of the goods and the costs included in the cover qualify for payment.
What does your premium depend on?
- Annual value transported: the yardstick under an open contract
- Nature of the goods: prone to theft, fragile or temperature-sensitive
- Destinations and routes: countries, ports and the weakest link on the way
- Mode and transhipment: sea, air, road or a combination of these
- Packing and loading method: container, pallet or breakbulk
- Excess per consignment: a higher excess lowers the premium
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | Transport insurance | Recourse against the carrier |
|---|---|---|
| A pallet falls off the forklift during transhipment in Antwerp | Yes | Yes |
| A consignment of electronics with a high value per kilo is lost in a collision | Yes | Provided that |
| Theft of a complete trailer from an unguarded lorry park | Yes | Provided that |
| Cargo frozen because the refrigeration unit failed on the way | Provided that | Provided that |
| A consignment stands in an interim warehouse for four weeks and disappears there | Provided that | No |
| A consignment of flowers arrives unsaleable after a hold-up at customs | No | No |
The left-hand column pays out with no question of fault. The right-hand column first calls for proof and then yields at most an amount per kilo.
Frequently asked questions
This is what people ask us most.
Do I have to approach my carrier first when there is a loss?
You do not. You report the loss to your own insurer, which pays and then pursues recovery from the carrier itself. You do have to preserve that right of recovery: make a written reservation to the carrier and the terminal within the periods set by the applicable convention and do not sign off the consignment note without a note.
Does the cover continue during storage on the way?
Only within the limits the policy states. A consignment left standing in an interim warehouse or distribution centre falls outside the transit cover after a stated period. If goods are stored as a matter of course before travelling on, declare that separately; storage for a longer period belongs on business contents and goods insurance and not on a transit policy.
How is a partly damaged consignment settled?
A surveyor establishes the loss in value, usually as a percentage of the insured value of the consignment concerned. Do not have the consignment resold, repacked or destroyed before that survey has taken place. Payment is limited to the loss actually suffered; Article 7:960 of the Dutch Civil Code does not allow the insurance to put you in a better position.
Can sites abroad come under the same contract?
That is possible, but not automatic. In some countries a risk may only be covered by a locally admitted insurer, so that a local policy is needed alongside the master contract. So state on the application which sites receive or dispatch goods, so that the structure is settled in advance rather than turning out to be missing when you claim.
Read more
Within Compare goods in transit insurance
- Compare goods in transit insurancethe main page
- Transportverzekering zzp
- Goods in transit insurance through a.s.r.
- Transport and accommodation insurance through Allianz
- Chubb zakelijk vervoerdersaansprakelijkheidsverzekering
- Nationale nederlanden zakelijk goederentransportverzekering
- Allianz zakelijk vervoerdersaansprakelijkheidsverzekering
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