How do you know your cargo is protected on the most crucial portion of its journey? WSSA offers foreign and domestic inland insurance coverage to make sure your risk is minimized. For members who import on terms such as DAP (Delivered at Place) and CIF (Cost, Insurance & Freight to named port of destination), it’s important to understand that it is your obligation to insure for the inland move once the goods reach the named terminal or place. Considering that most damage and almost all theft occurs on the domestic legs of an international move, covering that leg of the journey is vital. That’s why WSSA offers Domestic Transit Cargo Insurance for this final leg of transit. Domestic transit coverage is available to members at a nominal cost. Contact us for more info or to start protecting your cargo today!
Tip: Incoterms are Tricky!
Neither buyer or seller is REQUIRED to insure under DAP terms but the implication is that the seller insure up until the named place of delivery and then from there the buyer’s insurance picks up. As with all IncoTerms, don’t let the term dictate the insurance, spell it out separately in your agreement with the seller!