Cargo Insurance

What is cargo insurance?

Cargo Insurance covers loss and/or damage during the movement of cargo in international or domestic trade. Goods may be transported by sea, air or land. Policies and coverage are tailored to clients' needs.

We cooperates with PICC, Ping An, CPIC, AIG , China Life and other insurance companies to provide insurance services for importer and exporter.These insurance companies have provided convenient and comprehensive claims services. Insurance services vary according to the sum insured. Deductibles also vary. Our professional customer service team can customize suitable insurance solutions for customers. The low rate, convenience, and wide selection are the most important features of our insurance services.

Calculation of import and export insurance amount:

(1) Insured amount of export goods = CIF price× 110%.

(2) Insured amount of imported goods = CIF import price.

The formula for calculating insurance premiums:

(1) Export insurance premium = CIF price × 110% × insurance premium rate.

(2) insurance premium for imported goods = CIF import price × insurance premium rate.

CFR(...named port of destination)—Cost and Freight (...named port of destination)

CIF(named port of destination)——Cost plus insurance premium and freight (... specified destination port)

CIF=CFR+ Premium

The premium rate is determined by the insurance company based on different types of risks and destinations according to the payout rates of different types of goods for a certain period of time.