The cargo and logistics sector in Nepal is currently undergoing significant change. The transportation and logistics industries' convergence has been accelerated by the epidemic. Digitization and client assumptions are pushing both laid-out industry players and rookies to look for more prominent speed and control of start-to-finish item conveyance.

 Cargo Nepal (P) Ltd. additionally provides a range of other consumer services, including management and cargo insurance, in addition to cost-effective import and export services. The value of insuring your freight to guard against potential losses and damages is understated. Accordingly, you are liable for safeguarding your things. Our shipping and logistics team creates insurance solutions that cover the whole supply chain in Nepal using the most recent technology and risk management techniques. Our goal is to give you better risk visibility, knowledge, and protection for your cargo shipments.

Cargo Nepal continuously creates protection plans with cutting-edge plans, information and investigation offices, and chance management services. Through our integrated claims management services, we also help you reduce costs and increase claim reimbursements. We provide services to businesses of all sizes, from small package delivery services to global product manufacturers. We can assist you in managing and reducing your supply chain risks because of our size, scope, and market presence. Because of this, customers in Nepal choose our company as their top choice for protecting their valuable goods.

Cargo Insurance: Its Advantages and Options

The amount of the shipment's full value that can be reimbursed may be limited by convention or may not be adequate coverage even though the majority of transport companies have their own insurance for liability and damage. As a result, there may be a situation where a company loses a sizeable sum of money as a result of lost or damaged goods and is not given the opportunity to seek compensation from the transport company. In addition to covering goods that are temporarily stored while being transported, cargo insurance safeguards your possessions from physical loss or damage while they are being transported.

Advantages

Cargo insurance protects the value of assets while they are being transported or temporarily stored as a risk management tool. It protects product owners from potentially significant monetary losses caused by the destruction or non-delivery of goods. Additionally, some sales contracts stipulate that it be done. Sellers may be required to provide adequate insurance even after the goods have reached their destination. Risk financiers or banks frequently impose a requirement that the purchase of goods be covered by adequate cargo insurance when funding the purchase of goods imported under a letter of credit or transported under that document.

Options

Any person who has an insurable interest may have their interest insured under a cargo insurance policy. One is said to be "interested" if they have a stake in the outcome of the adventure and stand to gain or lose from the property's safe arrival or loss. When an exporter sells goods overseas, he has two choices: either he can negotiate the terms of the sale so that his buyer or the buyer's insurance can be arranged, or he can set up insurance that covers the entire journey but whose benefit passes from him to his buyer when the insurable interest passes from one to the other.

The seller is required to obtain cargo insurance at his own expense and to provide the buyer with an insurance policy or certificate for that reason if the buyer or any other party with an insurable interest in the goods agrees to specific terms of sale, such as CIF (Cost Insurance Freight). The maritime policy permits the transfer of ownership of goods when the subject matter of the insurance is purchased and/or sold. When purchasing products offered on CFR (Cost and Freight) terms, the buyer purchases freight insurance on their own dime.

The best thing about us is that we have everything planned out and are ready for your administration. It makes sense now why Namaste Cargo has been active there. We take care of everything, including cargo insurance, as one of the most reputable freight companies in Nepal, for a small additional fee.

Types of Cargo Insurance

Cargo insurance is available for both domestic and international shipping and transit. Even though it can be challenging to standardize and regulate coverage in another country, we frequently offer international protection to the following types of policies:

Cargo Insurance For Land

1. Explosion or fire
2. Sinking and stranding
3. Derailment or overturning of a land transfer
4. Collision
5. cargo release at the distressed port
6. Lightning, earthquake
7. average sacrifice generally
8. Throwing away or washing ashore
9. the infiltration of lake, river, or ocean water into a craft
10. Complete package loss during loading and unloading

Minimum Coverage:

1. Explosion or fire
2. Sinking and stranding
3. Derailment or overturning of a land transfer
4. Collision
5. Cargo release at the distressed port
6. Average sacrifice generally
7. Jettison

 Excluded Risks:

1. Intentional wrongdoing by the insured
2. Ordinary wear and tear of cargo, ordinary leakage, ordinary loss of weight or volume
3. Inadequate or inappropriate cargo packaging or preparation
4. The nature of the cargo or its inherent wickedness
5. Delay, even if the delay is brought on by a risk that has been covered
6. Failure of the vessel's owners, management, characters, or operators to pay their debts
7. Unfitness of the vessel, craft, or lift van's conveyance container, as well as unfitness of the vessel or craft for the sea

Road Risks:

1. Fire \Lightning
2. Destruction of bridges
3. With or by a transporting vehicle in collision
4. The transporting vehicle flipping over
5. Derailment or similar incidents involving railroad vehicles or wagons
6. Theft
7. Pilferage
8. Non-delivery
9. Any additional hazards that aren't expressly covered by the policy.
10.  By paying an additional premium, the risks of SRCC (Strike Riot, Civil Commotion, and Terrorism) can also be covered.

Possible Risks:

1. Fire \Lightning
2. destruction of bridges
3. With or by a transporting vehicle in collision
4. The transporting vehicle flipped over
5. Derailment or similar incidents involving railroad vehicles or wagons

Minimum Coverage:

1. Fire
2. Lightning