Cargo Insurance Information
While we endeavor to take whatever steps necessary to mitigate the possibility of delays, damage, or losses, risk is inherent in international transportation.
Carrier liability is limited in the event of cargo loss or damage; therefore Falcon strongly recommends insuring every shipment, regardless of value.
Carrier limits on liability are as follows*:
On air shipments: $20/kg
On ocean shipments: $500 per shipping unit (container and/or pallet).
On domestic shipments: $0.50 per pound, up to a maximum of $500 per shipment**
On warehousing and trucking services: $0.50 per pound, up to a maximum of $50 per shipment**
Limit of liability is not the same as insurance. Carriers will only pay after an investigation finds fault with the carrier, and only after cargo charges have been paid in full.
We strongly advise against moving any cargo uninsured. Insurance mitigates the risk by providing downside protection in the event of any loss or damage.
Proper insurance is based on the CIF value of the freight (value of goods + cost of insurance + cost of freight transportation + 10%.) Falcon offers competitively priced insurance as an added value and will be happy to provide a quotation. Falcon only insures with AAA rated insurance companies. For more information on insurance, please speak with your account representative.
If you choose not to insure with Falcon, please note that it is your responsibility to ensure your shipment has adequate insurance coverage. If you choose not to insure your shipment, you are doing so in acknowledgement and acceptance of risk of damage or loss.
Not paying Falcon is neither an appropriate, nor a legal solution to mitigating the losses on an uninsured shipment and regardless of any damage, loss, or delays. Regardless of claims, clients are legally obliged to pay all applicable charges for services rendered.
* All limits of liability are industry standard and governed by the Carriage of Goods by Sea Act (COGSA), or the Warsaw Convention for air cargo and are stated in our terms and conditions and listed on the back of each Air Waybill or Bill of Lading. Acceptance of our quotation amounts to acceptance of these terms.
*Limits of liability for warehousing and trucking can vary. We have included indicative pricing above.