I only import Cost Insurance and Freight (CIF). Why would I need added insurance?
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Even with CIF, it’s worth asking:
What exactly does the insurance cover—total loss only or partial loss too?
Can you, as the importer, collect payment for a claim outside of the country of origin?
How much are you really paying for that insurance? It’s often bundled into the total cost, and you might find better coverage at a lower price by insuring it yourself.
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Related FAQs
Can Maersk assist me with cargo insurance for journeys through areas like the Bab el-Mandeb strait and the Red Sea? Doesn’t the shipping company have to cover my loss? How do I calculate the volume for my LCL cargo? How should an insured act in the event of a claim for loss or damage? I already have my own policy. Isn’t that enough? Is a valued inventory list required? I’ve shipped hundreds of times and never had a loss. Why would I want to insure? Maersk offers cargo insurance. Do I need to buy own cargo insurance? Since I only ship Free on Board (FOB), do I really need insurance? What are the chances that anything will happen to my goods? What are the “Incoterms”?New to Maersk.com?
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