Did you know that the standard CMR insurance covers mainly the freight forwarder?
In fact, the freight forwarder insures its liability towards the cargo owner. Besides, this liability is limited to approximately 10 Euros per 1 kg of gross weight, and under the Convention, the freight forwarder is not always liable for any loss or damage of the cargo. On top of that, it may take a year and a half to claim insurance indemnity. For example, in the case of loss of a cargo worth half a million Euros and weighing 2 tonnes, the cargo owner would receive only around 20,000 Euros, although it would be impossible to say exactly when.
To provide our customers with higher protection against Force Majeure circumstances, our company is also covered by third party liability insurance. Although the same limitations apply, i.e. approximately 10 Euros per 1 kg of gross weight, the cargo owner may, in case of loss or damage of a cargo, receive insurance indemnity within a few weeks.
When the cargo value considerably exceeds the maximum amount of the CMR insurance cover, we advise that our customers insure the full value of the cargo. In such cases the cargo owner will be compensated for the entire cargo or any part thereof.
The cargo owner does not need to sign an agreement or complete any additional documents in order to obtain additional insurance. You just need to specify this request in the transportation order and we will take care of all other paperwork. An insurance premium will be added to your transportation invoice.