Air Cargo InsuranceNo other means of transport has achieved such high growth rates in the past 40 years as the aircraft. One of the reasons for this is that the division of labour in the world economy is becoming ever more intensive and the proportion of high-value goods in foreign trade is continuously increasing.
The term air cargo includes all goods which are transported by air transport with an air waybill. The air carrier is liable in the event of damage, partial loss, total loss and delay, while the goods are in its custody.
In such case, the airline has the obligation to substantiate that it has applied all the due care and attention for the prevention of a loss. The maximum liability of the carrier is normally limited - it amounts to 19 SDRs (special drawing rights) in Germany, approximately EUR 21 per kilogram. For most consignments, this amount is not sufficient to cover the total value of the shipment.
Furthermore, the air carrier's liability commences with the acceptance of the goods and ends with delivery to the consignee. Therefore, liability only applies from airport to airport. Transportation to the airport or from the airport to the finale consignee is generally not.
Transport insurance should always taken into consideration in order to avoid financial losses.
The most significant advantages at a glance:
- The insurance covers the total value of the goods plus transport-related costs.
- The insurance pays in due course.
- The insurance applies door-to-door.