Insurance

We do everything we can to deliver our customer’s goods from consignor to consignee intact, without losses and on time.

However, transporting goods is never 100% risk free. Arco Transport has a Freight Forwarder’s Liability Insurance with Vagner. Existence of a Carrier’s Liability Insurance is the key to our co-operation with a carrier.

Nevertheless, it is necessary to know that the insurance liability of the carrier is limited, and it depends on the weight and the mode of transport:

  • In road transport, carrier’s liability is limited to max 8.33 SDR per gross kg of goods
  • In maritime transport, carrier’s liability is limited only to max SDR per gross kg of goods or 666.67 SDR per unit (e.g. container), whichever is the higher.

The maximum amount of the liability is determined in SDR. SDR (Special Drawing Rights) is the calculation unit of the International Monetary Fund and the exchange rate of SDR towards the Euro is fluctuating. You can calculate the exchange rate here: http://coinmill.com/EUR_SDR.html#SDR=8.33.

The carrier’s insurance covers therefore often only a small part of the potential loss or damage. Thereby additional freight insurance is recommended, especially in case of valuable and/ or light weight goods.  Conditions of the additional insurance depend on the description and value of the goods.

If you feel like you need additional cargo insurance, then you can obtain the policy in cooperation with our insurance company Vagner. If you would like to arrange additional insurance for your transportation orders through Arco Transport please speak with your designated account manager or freight forwarder.