FAQ's

What is Heritage Marine Insurance?  
Who is Heritage Marine Cargo Insurance meant for?  
What are the benefits of Heritage Marine Insurance?  
What are Heritage Marine Insurance key features?  
What do you need to get cover?  
  • Bill of Lading
  • Completed Declaration Form
  • Copy of Invoice
  • Packing List
  • Identification Documents.
Are there risks that are not covered by Marine Cargo Insurance? 
Most insurance policies do not cover;
  • Losses caused by customs officials rejecting delivered goods or improper packaging.
  • Employee dishonesty
  • Losses resulting from shipping delays
  • Failure of other parties to pay for goods
  • Cargo being abandoned
What determines the cost of your Marine Insurance? 
  • Routes taken.
  • Size of vessel
  • Value of the shipment.
What is Marine Insurance?  
Marine Insurance refers to cover arranged against loss or damage to goods whilst in transit by either sea or air or It is a contract of Insurance whereby the Insurer undertakes to indemnify the Insured in the manner and to the extent thereby agreed in respect of loss, damage or liability attributable to marine risks.
What is CFR?  
COST AND FREIGHT (… named port of destination).
What is FOB?  
FREE ON BOARD (… named port of shipment)(… named port of destination).
What is FAS?  
FREE ALONGSIDE SHIP (… named port of shipment). (… named port of destination).
What does Warehouse to Warehouse mean?  
Coverage for Transit Insurance is often referred to as Warehouse to Warehouse. It is important to note however that coverage is actually determined by the terms of sale used in each transaction (F.O.B., etc.). This coverage attaches at the point at which transit commences, and terminates when the cargo is delivered to the final destination. (… named port of shipment). (… named port of destination).
What is an "Open" Marine Policy? 
An open cover is an arrangement based on predetermined terms to cover series of generally similar shipments over a long period.
What is a Bill of Lading? 
It’s a detailed list of a shipment of goods in the form of a receipt given by the carrier to the person consigning the goods. The Bill of Lading has three main functions. First it is a document of contract of carriage. Secondly it is a receipt for the goods received - the issuer has received the goods from the shipper. Thirdly it is a document of title to that enables the bearer to take possession of the goods on presentation at port of destination; cargo may change ownership many times before the final destination.. (… named port of destination).
What happens if I under-value a shipment for insurance purposes? 
The value of the shipment declared for insurance must reflect the true value of a shipment. If a loss occurs and the amount declared is found to be less than the true value, the claim settlement may be pro-rated to a lesser amount. It is as if the insured is acting as a co-insurer of the shipment.
What do I do when I discover a loss or damage to a shipment? 
Follow the instructions outlined on your Certificate of Insurance. Report the loss to the carrier in writing and notify them that you intend to claim for the loss. Contact the surveyor at the destination that is usually shown on the Certificate of Insurance who will attend and establish the cause and extent of the loss. Advise your broker, who will assist with managing the claims process.

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