To insure your shipment for the replacement of the goods shipped in case of total or partial loss or damage plus the cost of shipping the freight, request insurance for the CIF value of the shipment.
CIF + 10% Terms
- Commercial invoice value + insurance costs + freight= CIF value x 110% (10% for any unforeseen costs or charges)
This type of insurance covers your shipping costs too in the case of damage or loss where the repair or replacement must be done somewhere other than the consignee’s location. Recoverable freight charges may be prorated based on the portion of the shipment damaged in the case of partial loss/damage.
If there is damage and the repair occurs at the final destination of the goods (consignee’s facility), no freight charges are refundable.
For most destinations and commodities, Sneddens sells insurance for $0.30/$100.00 insured value with a $120.00 minimum.