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Risk Control: Introduction to International Shipping Logistics Insurance for Personal Goods

by:VIPUTRANS     2021-03-13
VIPU Supply Chain International Logistics provides all customers with assistance in purchasing ITI insurance specifically for personal items to ensure that the goods receive due claims in the event of accidental losses during transportation. ITI Insurance Introduction Los Angeles Inter Trans Insurance is a door-to-door all-risk insurance for the transportation of personal belongings. Hereinafter referred to as ITI Insurance. The advantage is that the insurance, the compensation procedure is simple, and the compensation speed is fast. Insurance process and requirements 1. You must insure all the items you transport. If you choose to purchase ITI insurance, you cannot insure only some items, but need to insure all items you transport. 2. Fill in the insurance policy, list the name, value and quantity of the insured items, and sign. (Link to download the insurance policy) 3. If the value of a single item exceeds US$500, it needs to be listed separately, and those less than US$500 can be grouped together. Coverage of insurance costs 1. ITI insurance premiums are 3% of the declared value. ITI insurance covers the risk of damage and loss from when you pack it to your home. 2. Electrical and mechanical items, if the outer packaging is not damaged during transportation, but the internal damage occurs after transportation. The insurance company will not compensate. You can pay an additional fee of 1% of the declared value to cover this risk. 3. You can pay an additional fee of 1% of the declared value to provide additional insurance for the complete set of items. In this case, if a single item in the set of items is damaged or lost, the insurance company will compensate for the damage and loss of the set of items. 4. Insurance includes 3 months of storage. The storage here only refers to the storage in our warehouse and the warehouse of the destination delivery company. The storage time in the customs warehouse is not counted within 3 months. If the storage time exceeds 3 months, the insurance premium shall be increased by 0.5% each month thereafter. Claim 1. The customer needs to apply for compensation from the insurance company within 45 days after the goods are delivered. 2. It is recommended that you apply after checking everything, in case you find new items damaged after applying for insurance compensation. 3. Take photos of all damaged items. 4. Log in to the ITI website http://www.intertransins.com/new_site/claimform/claimform.htm, fill in the form, and make a declaration. 5. The insurance company will contact you by email, and you will provide photos of the damaged items. 6. If the application amount is not large, the insurance company will immediately determine the compensation amount. 7. You confirm the amount of insurance compensation and provide the receiving account information. 8. The insurance company remits money or sends you a check. If the amount of compensation is large, the insurance company will arrange personnel to come to investigate. ITI insurance does not cover the following claims (A) Loss or damage caused by any government, customs authority or official confiscation. Indirect losses due to delays or any depreciation are not covered by the insurance. (B) Items missing from the carton packed by the owner. Claims for the loss of any cartons packed by the owner will not be accepted, unless the loss has been stated at the time of delivery and reported to I.T.I. within 45 days of delivery. (C) Loss caused by damage or breakage of the contents of the carton, wooden box or container packed by the owner. (D) Loss or damage to jewelry, gems, cash, currency notes or bank notes, contracts, traveler's checks, coin or stamp collections, alcoholic beverages, negotiable notes, contraband or other similar items. (E) Loss or damage caused by wear, weather conditions, infection or inherent defects. (F) The internal electrical or mechanical parts of any equipment, unless the exemption clause for external damage to such property is stated at the time of delivery. Loss of data and recalibration are also not covered by insurance claims. Except for automobiles, the scope of electrical or mechanical failure insurance is applicable to nominal additional insurance premiums. (G) Loss or damage to any item before payment of insurance premium. (H) Loss or damage suffered by a car while driving under its own power, except on port sites. (I) Stains, dents, flaking or scratches on cars, motorcycles or other motor vehicles that are more than three years old. (J) Non-factory-installed accessories or detachable items on the car. Private goods transported in a car are also not covered by insurance claims. (K) Wrinkled or dirty clothing, linens, upholstery and carpets. (L) Spots, dents, peeling or scratches on items received by the carrier due to unknown conditions. (M) Secretly lost or undelivered transport packaging, but the delivery declaration shows that all packaging has been delivered to the final destination. (N) Items not listed in the list compiled by the starting point. Items not transported are not covered by insurance. (O) Evaluation fee, transportation fee, damage caused during assembly or disassembly, items with no commercial value, items with emotional value or property damage. (P) The entire set of items, provided that a single item is lost or damaged. Only compensate for the proper value of lost or damaged items. Nominal additional insurance premiums apply to the insurance of pairs and sets of items. (Q) Losses caused by nuclear reaction, radiation or radioactive contamination, no matter whether it is controllable or not, and no matter how it is caused. (R) Tangible loss or damage suffered during storage of property used for political, terrorist or ideological purposes. (S) Loss and/or damage suffered during transportation from door to port, unless the exemption clause is stated when the goods are received at the port of discharge. (T) Loss or damage to plasma televisions, monitors or other similar items. (U) Structural damage to systems or sets of furniture made of plywood or similar materials, or any degradation in quality caused by the disassembly or reassembly of any such items of furniture. (V) Experimental cars or car prototypes. (W) Loss or damage caused by fumigation or contamination of the goods for any reason. (X) Loss or damage to live or perishable items.
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