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Transport insurances can be taken out in the form of single and annual contracts, for shipments by land, oversea or in the air or a combination of them. Ghibli Ltd has an exceptionally high limit of carrier’s liability insurance-EUR 1.000.000/year-compared to the current practice in Hungary.

According to the Convention on the Contract for the Carriage of Goods by Road (CMR), the carrier’s liability is limited, with a ceiling of SDR 8,33 per gross weight of goods (approx. 2600-2900 HUF/kg-depending on exchange rates).

In the case of damage to goods (destruction, shortage, theft, spillage, breakage, burning, pollution, damage etc.), the maximum compensation must not exceed this value.
The standard carrier’s liability insurance in Hungary has a limit of 100.000 USD. Therefore, in the case when the unit value of the goods is higher tan 8,33 SDR or the value of the goods is higher than 100.000 USD, we recommend to contract a separate single trip cargo insurance.

Advantages of Single Trip Cargo Insurance:

• „all risk”, so all risks are covered (except or a few extreme circumstances exclusions)
• it is not a liability insurance, so it does not require the determination of the liable party, hence the insurer will compensate the damage quickly, saving months of searching for the liable
• we contract an excess policy (default: 10%), from which the client can recover other costs (e.g. freight; penalty, loss of profit, etc.)