Air freight shipments face numerous potential risks—severe weather conditions, unexpected accidents, and even theft can result in significant business losses. Securing appropriate air cargo insurance is crucial to safeguard your financial interests. This guide outlines the complete insurance process to help mitigate transportation risks effectively.
Pre-Insurance Preparation: Required Documentation
Before purchasing coverage, gather these essential documents to enable insurers to accurately assess risks and provide quotations:
- Original air waybill: Serves as primary proof of shipment and is critical for claims processing.
- Insurance policy (original): Documents your coverage and specifies policy terms.
- Air carrier certification: Required documentation from airlines in cases of damage or loss.
- Local insurer verification with photographic evidence: Official damage/loss certification from designated local insurers, accompanied by visual documentation.
- Original packing lists and commercial invoices: Validates shipment value and quantity.
Application Completion: Accuracy Matters
When completing insurance applications, pay particular attention to these critical fields:
- A. Insured party: Use complete legal entity names—avoid abbreviations.
- B. Shipping marks: Include all identifying marks when present.
- C. Packaging specifications: Detail container types and quantities. Special handling requirements for fragile items must be declared.
- D. Cargo description: Provide comprehensive product names in both English and Chinese when applicable.
- E. Coverage amount: Specified in renminbi (RMB).
- F. Transport method: Clearly indicate "by air," with vessel details required for ocean shipments.
- G. Departure date: Reflects actual port departure.
- H. Tracking number: Authentic waybill reference.
- I. Claims location: Full address for claims processing.
- J-K. Route details: Complete origin and destination addresses.
- L. Coverage type: Specify required protection level (e.g., all risks).
- M. Applicant authentication: Authorized signature and company seal.
Post-Approval Protection
Following successful application review, your air cargo becomes protected against insured perils. Should covered losses occur during transit, policyholders may file claims with supporting documentation to recover eligible losses, significantly reducing financial exposure.
Comprehensive air freight insurance provides critical security for commercial shipments, ensuring business continuity and risk mitigation throughout the transportation process.