The one-off cargo insurance policy is designed for infrequent transportation of cargo, very often only a single shipment.   

Many transport companies are interested in placing this type of insurance, however, as it is permitted only for domestic and international transportation insurance policies, it is the independent shipper, i.e., the owner of the cargo who should place one-off cargo insurance.  

One-off cargo insurance is essential to protect the transit risk, and it applies to only one shipment, i.e., it is intended for companies that make only a few transfer operations, which is frequently the case with machinery and equipment.  

Quotations for one-off cargo insurance must be requested prior to shipment. And, depending on whether it is a domestic or international operation, payment may be made via bank slip, ADA (Automatic Debit Authorization) or check issued by the insured.

Insurance on a Declaration basis x One-off insurance

A cargo insurance declaration is a detailed description of the merchandise insured, it contains details such as: value and quantity among other important data.  

Differently from one-off insurance, which is intended for only one shipment, a declaration policy provides for a longer policy period, which can be one year or six months, after which time the insured is required to declare shipments within the period specified in the policy.    

With the assistance of a specialized insurance broker, the insured has the possibility of processing the declaration through the Internet, thus reducing bureaucratic procedures.  Count on CredRisk Marine for these and other differentiated services.

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