iq global logistics Insurance coverage

A. According to the International Maritime Regulations all shipments are automatically covered by a limited policy from the steamship line of up to $500 per shipping unit (each box, carton, skid, crate, etc) with a maximum of $1450 for the entire shipment. The coverage exists while your shipment is in possession of the steamship line. Steamship line's limited policy claims are to be directed to the steamship line. In case of damage or loss, recipient is to initiate the claim process at the destination Country Station.

B. You may want to purchase additional insurance through iQ Global Logistics Corp. Rate is $2 per $100 (2% of value) of Insured Value, $30 minimum, with a deductible of $200. Request the insurance when booking.

iQ Global Logistics Corp provides All Risk or Free of Particular Average (FPA) coverage:

1. All Risk Insurance is available for commercial cargo and personal effects that are professionally packed (packed by shipping dept, mailing store, packing agent, etc.). In case of claim the insurance carrier require confirmation that the goods were professionally packed. Personal effects and Household Goods coverage is for total loss only. Partial damage or loss coverage is not provided for Personal Effects and Household Goods.
   
2. If cargo is NOT professionally packed the policy will be qualified as Free of Particular Average (FPA). Below is a comparison of the conditions offered under each policy.

C. A detailed packing list and/or commercial invoice must be provided at time of booking.

IMPORTANT NOTE: If insurance had been purchased then the amount of coverage must correspond with the total value indicated in your Packing List and/or Commercial Invoice. If you would like to insure selected items in your shipment, then you must indicate that in your Packing List and/or Commercial Invoice by each line item description *** COVERED BY INSURANCE ***

D. CERTIFICATE OF INSURANCE: For regular cargo no Certificate of Insurance is necessary. If iQ Global Logistics Corp's insurance had been requested when shipment booked and all charges in our final invoice are timely paid then cargo are covered by iQ Global Logistics Corp's blanket policy. That paid invoice is the proof of iQ Global Logistics Corp's insurance for your cargo.

E. TIME LIMITS AND PROCEDURES: If an insurance policy had been purchased from iQ Global Logistics Corp then in case of damage and/or loss discovered by the consignee after delivery and after a clear receipt has been given to the carrier consignee must be reported in writing to iQ Global Logistics Corp within 10 days after delivery of the shipment with privilege to the carrier to make inspection of the shipment. The claim will be forwarded to our insurance provider's home office. iQ Global Logistics Corp will not be able to forward a claim report without detailed descriptions of cargo damages. Our insurance provider's representative will contact consignee regarding procedure with the claim.

F. DAMAGED PACKING: External damage to packaging does not qualify for a claim (e.g. torn carton). The contents inside the packing must be damaged.

G. Please refer below for special conditions & restricted commodities. We provide insurance coverage on restricted commodities on a per quote basis.

1. Although above perils are indicated as covered under "All Risks", depending upon commodity, certain commodity exclusions may apply.
2. Partial loss IS NOT covered for these perils, but TOTAL LOSS IS covered.

CONSIGNER MUST REQUEST A QUOTE AND OBTAIN APPROVAL TO INSURE SHIPMENTS FOR: 1) Restricted Commodities, 2) Excluded Countries & Restricted Geographic Areas. 3) Special Risk Commodities and/or value exceeding $50,000

1. RESTRICTED COMMODITIES: Cellular Telephones, Plasma Screens/Flat Panel Displays/Monitors/Etc, Commercial/Advertising Artwork or Photographs, Film or Music Negatives/Master Tapes, Models (including architectural), Trophies, Artifacts, Transparencies/Slides, Stamps/Coin Collections, Evidence for a Trail, Fragile Articles as defined in Policy; Watches, Furs, Fur Garments and Jewelry (other than costume); Precious/Semi-Precious Stones and Pearls; Precious Metals, Gold and Silver Silverware; Bank Notes and All Negotiable Documents - including money and Securities; Any Non-Negotiable Documents where customer is requesting for FACE VALUE; Perishable Goods, Radio Isotopes, Cut Flowers, Living Plants; Costumes and Wearing Apparel; Animals/Fish/Etc (live, refrigerated, frozen or mounted); not professionally packed Household Goods and Personal Effects as explained above; Knitting and Textile Machines; Grains, Flour, Meal, Etc. in bags or bulk; Iron and Steel Angels, Bars Girders, Pipe, Sheets, Wire, Tinplate and Similar Ferrous Products; Motor Vehicles or Sail Boats, Motorcycles; Human Remains; Alcohol/Spirits; Cigarettes and Tobacco.

2. EXCLUDED COUNTRIES & RESTRICTED GEOGRAPHIC AREA: CIS and/or Russia, Afghanistan, Bolivia, Paraguay, Nigeria, Angola, North Korea, Former Yugoslavia, Iran, Iraq, Cuba, Haiti.

3. SPECIAL RISK COMMODITIES -VALUE OVER $50,000: Computers and Computerized Electronic Equipment; Lasers and/or Laser Commercial use; VCR's, Pre-Recorded Video Tapes, Radios, Projection Equipment and Screens whether for personal or Commercial use; Non-Fragile Fine Arts (i.e. Paintings/Lithographs without GLASS).

Only claims for insurance purchased directly from iQ Global Logistics Corp will be processed by us. All other claims are to be directed to the steamship line.