When using transportation services, domestic cargo, charge the main, many people wonder whether there is additional cost other, especially free cargo insurance. In this article, HNT will help you answer the questions as cargo insurance domestic shipping is what has compelled to buy it or not and why you should be interested in this charge to ensure safety for their goods.

Cargo insurance domestic shipping is what?

Cargo insurance domestic shipping is a form of protected rights for cargo owners from risks that may occur during delivery – receive, including loss, damage or damage due to accident, disaster. The policyholder will pay a fee according to the contract and in case of incidents, insurance entities are responsible for compensation for damage under this account has been committed.

Premium goods domestic shipping is what?

Why should I buy shipping insurance for domestic goods?

In inland transportation, insurance of goods is important solutions to help protect the rights of people sent before the unexpected mishaps. Premiums are usually due to the sender or unit shipping cost and if an incident occurs, the transport company will compensate accordance with the terms of the contract.

A number of companies integrated shipping free insurance on freight, while many other units back separately as additional services. The decision to buy insurance depends on the value of goods and protection needs of our customers. For the shipment, valuable, or perishable, insurance is the option needed to minimize financial losses.

Benefits of cargo insurance domestic shipping including:

• Reduce risk: insurance that protects goods of sender from damage due to accident, loss or other incidents beyond the control of the shipping process.
• Compensation transparency: In case of malfunction, the customer will be compensated in accordance with the extent of damage under the agreement in the contract.
• Increase trust: Have insurance, unit shipping will apply the measures, additional protection, enhances service quality and create peace of mind for the sender.

The benefits of cargo insurance shipping

How to calculate premium goods domestic shipping

Although insurance can't prevent completely the risks objectively as bad weather, accidents or disease, but this is still the optimal solution to help limit the financial damage when an incident occurs. Cost buy cargo insurance domestic shipping is usually determined according to the formula of each insurer or transport unit and will be clearly stated in the contract.

Cost buy cargo insurance domestic shipping is determined by specific formula of each business, insurance or shipping unit

Below is the charge of a number of insurance companies in Vietnam for your reference:

Premium goods domestic shipping – Bao Viet insurance

Formula calculator free:

• Premium = Rate of charge (%) x insurance value

The percentage is determined based on many factors like: type of goods, method of packing, shipping form, and provides the move. Risk factors the higher the ratio, the greater.

Corporation Postal insurance (PTI)

Formula calculator free:

• Premium = Rate of charge (%) x insurance value + 10% VAT

The charge rate according to shipping method:

• Rail: 0,04%
• Road: 0,06%
• Inland waterways: 0,08%
• Multi-modal: 0,10%

Insurance PJICO

Apply formula calculation of insurance premiums cargo inland similar to PTI, but the fees are somewhat higher due to the additional charge of specific risks.

The proportion of free base according to type of transport:

• Rail: 0,06%
• Road: 0,08%
• River road: 0,10%
• Sea: 0,12%

Additional surcharges (if available):

• Risks in the process of loading and unloading: 0,020%
• Risk goods get wet or stolen: 0,050%
• Fee according to the age of the captain: apply with the trip shipping waterway.

Insurance PJICO fee rate is somewhat higher due to adding the surcharge specific risks

Insurance oil and gas PVI

Basically, PVI insurance used in insurance premiums for domestic goods similar to Bao Viet insurance. The premium is determined by the formula:

• Premium = Rate of charge (%) x insurance value

Ratio of specific charge will be based on the type of goods, the form of shipping and insurance terms and conditions that the customer choice. PVI offers diverse insurance package fit many needs, from consumer goods to industrial goods or chemicals.

Specific examples

For you to better understand how free insurance of goods in transit in fact, here's a specific example:

Case: company A buys insurance from Postal insurance (PTI) for shipments of u.s. products worth $ 100,000, were shipped by truck from Hanoi to Da Nang.

Apply the formula:

Premium = 100.000 x 0,06% + 10% VAT
→ Premium = 60 + 6 = 66 USD

Conclusion: company A need to pay 66 USD for insured shipping domestic shipment this. This is the relatively small cost compared to the value of merchandise, but help ensure financial interest if the problem occurred in the shipping process.

Note when payment of the premium goods domestic shipping

Before deciding to buy insurance for goods, inland transportation, personal or business deposit you should note some important points to ensure your benefits and minimize the risks that may arise:

• Give full information about shipment of: The sender need to declare the exact type of goods, volume, amount, actual values and forms of packaging. This is the basis to determine the cost and coverage fit.
• Carefully read the insurance contract: Before signing, please take the time to consider carefully the terms, conditions, exclusions and scope of compensation to avoid misunderstanding or dispute later.
• Track and check the goods when receive: active surveillance journey shipment (if possible), at the same time check the status of the goods when receive promptly to reflect if there are signs of damage or loss.
• Select units reputable shipping: cooperate with professional logistics company and have the insurance policy will clearly help you greater peace of mind during the entire shipping process.

Choose a Reputable Provider

>>> See more: Documents For Import And Export Is What? Specific Information

Conclusion

Through the share on, HNT Logistics hopefully you've mastered cargo insurance domestic shipping what is the reason why, as well as how to calculate the insurance premium of goods in a particular way and easy to understand. The page is full of knowledge not only helps business protect your products better, but also to ensure the rights and responsibilities during the shipping process.

Not only in the field of intensive shipping domestic and international same customs procedures, import and export, HNT Logistics also developed a package of support services, logistics, helping enterprises to optimize costs and operate more efficiently.

HNT Logistics have all the services you need

The support services include:

• Cargo insurance
• Warehouse for rent
• Service loading and unloading at the warehouse
• Free pick-up/delivery from warehouse to airport or sea port

Contact HNT Logistics via Hotline 0949.393.300 (Mrs. Peach) – 0911.446.060 (Mrs. Examination) to be detailed consultation and receive the most preferential price exclusively for your business!