Construction equipment shipping from USA can be a complex and confusing task, with many steps involved in the process and additional requirements that must be met. A common question asked is if marine insurance is needed when shipping your construction equipment overseas. While some shipping companies may not require that you have this insurance it is in your best interests to protect the value of your equipment.
Many people believe that the shipping company will be responsible for any damage or loss, but this may not be the case. Many shipping companies have a very limited liability, usually around $500 or less. The loss of a $20,000 piece of equipment could not be covered with the liability assessed in most cases. Marine insurance can help protect you against this possibility.
Is Marine Insurance Included In Your Shipping Costs?
When you need construction equipment shipping from USA there is often a lot of confusion about whether or not marine insurance costs are included in the price you pay the shipping company. Most shipping companies do not usually include a standard marine insurance policy, because every shipment is different.
If marine insurance was requested through the shipping company and this charge is included in the shipping costs it will appear on your shipping quote. If it is not listed in the quote then the marine insurance was not purchased through the shipper, and a policy should be purchased privately instead.
Marine Insurance Costs
A number of factors determine the cost of marine insurance for construction equipment shipping from USA. These include:
+ The value of the equipment being shipped. The more expensive equipment is the more the insurance premium will be.
+ The destination of the shipment. Some destinations involve higher risks than others, and will have higher premium costs involved.
+ The shipping route used. Some shipping routes involve more danger or inclement weather conditions, and so have higher risks and insurance costs.