What is the basis for the start and end dates in cargo insurance?
Cargo insurance start date:
Cargo insurance expiration date:
Cargo insurance shall terminate in one of the following cases, whichever occurs first:
1- Upon complete unloading of the goods from the means of transport or other vehicle at the warehouse or final storage place at the destination specified in the insurance policy
2- Upon complete unloading of the goods from the means of transport or other vehicle at any warehouse or other storage place at the destination specified in the insurance policy or before the insured or his employees have intended to store the goods outside the normal route of transport or to divide and distribute the goods
3- When the insured or his employees decide to use any land transport or other means of transport or container outside the normal route of transport for storing the goods insured.
4- Upon the expiry of 60 days from the complete unloading of the insured goods from the ship at the last port of discharge in the case of sea transport.
5- Upon the expiry of 30 days after the complete unloading of any part of the insured goods from the carrier’s aircraft at the airport of the country of destination or until the goods are delivered to the consignee, whichever is the earlier.
6- In the case of land and rail transport, 60 days after the delivery of the insured goods to the customs warehouse of the country of destination or until the goods are delivered to the consignee, whichever is the earlier.
Important Note:
If for any reason you are unable to clear your goods from customs within the deadlines specified above, be sure to request an additional extension of the validity period of your insurance policy from your insurance company.
