Cargo Elite Coverage Highlights:
Policyholders have full rights to the possession and control of all damaged goods.
If a loss is not immediately apparent at the time of delivery, Travelers coverage applies to the discovered loss up to 60 days after arrival to the final destination.
If a client’s goods are missing for 30 days or more in transit, we consider them non-deliverable and Travelers coverage applies to the loss.
If goods from a sealed container are missing upon arrival, Travelers coverage applies to the loss if the amount loaded has been documented.
If goods are damaged or lost when a third party is responsible for the insurance on a client’s cargo, Travelers coverage applies to that loss if the client is unable to collect from the third party.
If a client’s goods are designated for overseas carriage and are damaged in transit to the consolidation location, Travelers coverage applies to the loss.
If goods are partially damaged, Travelers covers Air Express and/or Air Freight charges to ship replacement parts up to 10% of the insured value of the damaged goods.
If goods are damaged from a covered cause of loss, Travelers coverage applies to the reduction in value caused by the loss of the manufacturer’s warranty.
Coverage Also Include:
• Consolidation
• Fraud & Deceit
• Deliberate Damage
• Customs Service
• Salesman Samples
• Returned or Refused Shipments
• Debris Removal
This issuance system allows insureds to prepare and issue special policies 24 hours a day, 7 days a week. Available at travelers.com
For more information please contact our Ocean Marine representative at 650-353-5868 option 1.
See how the Cargo Elite policy addresses some other common questions and concerns about ocean cargo insurance:
I just opened the crates that I received from China last month – the crates looked fine, but the contents are smashed to bits!
If a loss is not immediately apparent at the time of delivery, Travelers coverage applies to the discovered loss up to 60 days after arrival at the final destination.
The container from my overseas supplier shows no evidence of a break-in, but some of my merchandise is missing.
If goods from a sealed container are missing upon arrival, Travelers coverage applies to the loss if the amount loaded has been documented.
What can the automatic “all risk”* coverage provided by Cargo Elite mean to your client? Consider this scenario:
You have made a large sale to an overseas customer, but the shipment sustained substantial water damage en route.
You are in a panic – they never told you that they had started selling industrial machinery – a completely different product line from their usual shipments of small electrical
components. They needed to know:
• Would the new equipment be covered by their ocean cargo policy?
• If so, would the insuring terms be broad enough to cover the damage?
Under many policy forms, our clients could be left with uninsured damage. But with the automatic “all risk”* coverage provided by Travelers Cargo Elite policy, the costs to repair the damaged
machinery were promptly reimbursed.
The moral of the blog post? While your product line may change, the extensive coverage provided by the Cargo Elite policy for new merchandise will remain the same.