Insurance

NETbonds insurance is underwritten by our two providers, depending on the movement, value and commodity:

Travelers Property Casualty Company of America
Tokio Marine America Insurance Company

No matter where in the world your shipment comes from, NETbonds reach is worldwide, including our ability to insure goods.

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Limits of Liability

International Transit

$1,000,000	Any one vessel and connecting conveyances, except
$100,000	Any one vessel – subject to an “on-deck” bill of lading
$1,000,000	Any one aircraft, and connecting conveyance
Not Covered	Any one package shipped by international registered mail/parcel post/express service Not Covered
Not Covered	Any one barge or in any one tow, except as a connecting conveyance

Domestic Inland Transit

$500,000	Any one conveyance – shipments to/from USA and/or CANADA only
$500,000	Any one package shipped Domestic UPS, FedEx or other similar

Trade Disruption

$25,000

Any one insured event but not to exceed $25,000 in aggregate any one policy year

Exhibition

$100,000

Any one Exhibition

In Respect of Approved Cargo

This insurance is against All Risks of Loss or Damage to the subject-matter insured but shall in no case be deemed to extend to cover Loss, Damage or Expense proximately caused by delay or inherent vice of nature of the subject-matter insured.

Non-Approved Merchandise
The following items are EXCLUDED absolutely unless specifically agreed by Underwriters prior to sending:

Accounts, Bills, Evidence of Debt, Deeds, Notes and Securities

Antiques valued at over $5,000 per item

Art Works

Batteries

Bulk Shipments loaded directly into hold of a vessel

Bullion, Money, Bank Notes, Coins, Checks, Credit Cards, Bonds

Cellular Phones and Handheld Devices

Chemicals

Cigarettes

Clocks and Parts

Computer Micro Chips including shipments of memory, which are an integral part of a central processing unit of a personal computer

Cosmetics

Currency

Flammable Items

Fragile Items

Fresh Fruit and Vegetables, Flowers

Fur and Fur Garments

Hazardous or Dangerous Materials

Illegal Shipments

Iron or Steel Products, Pipe, Sheeting Coils, Bars, Rods

Jewelry, Fine and Costume

Laptop Computers

Living things including but not limited to Bloodstock, Livestock

Motorized Vehicles including but not limited to boats, Ski Jets, Golf Carts; does not include mass produced automobiles

Negotiable Documents

Perfumes

Precious Stones

Precious Metal or Objects

Rugs, Handmade or Oriental

Sculptures

Stamps

Tobacco Products (Manufactured) and Smokers Accessories

Vehicles that are antique, classic or customized or over five (5) years old

Watches and Watch Parts

Geographic Limits

At and from ports and/or places in the World to ports and/or places in the World excluding:

Shipments under INTERNATIONAL ECONOMIC AND TRADE SANCTIONS (as per Clause 9) and other regulations by governments.
Shipments originating in the United States and/or Canada with a final destination in the United States and/or Canada unless Domestic Transit Coverage is endorsed to the policy.

Any shipments from and/or to geographical areas not represented at the inception of this policy must be reported to this company.

The following territories are excluded unless specially declared and accepted by Insurers in writing prior to shipment.

Current “watch list” areas that require notice and approval, and for which the rates for War, Strikes, Riots and Civil Commotions are determined “On Application”:

Afghanistan, Algeria, Azerbaijan, Bangladesh, Bolivia, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Russia(Chechnya, Dagestan, Ingushetia, North Ossetia, Karachay-Cherkessia & Kabardino-Balkaria), Colombia, Democratic Republic of Congo, Congo – Brazzaville, Ecuador, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Georgia, Guinea, Indonesia other than Java / Java, Iran, Iraq, Israel & PA (West Bank and Gaza) within 45 km of Gaza-Israel border, including Beersheba & Ashdod, Ivory Coast, Jordan, Kenya, Lebanon, Libya, Madagascar, Mali, Mauritania, Nepal, Niger, Nigeria, Nigeria (Offshore Load/unloading), North Korea, Pakistan, Palestinian Authority (Gaza / West Bank), Philippines, Russia, Saudi Arabia, Sierra Leone, Somalia, Sudan, South Sudan, Syria, Yemen, Uganda (Northern Uganda), Ukraine, Zimbabwe
Bulk oil shipments including petroleum products, hydrocarbons and derivatives to: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia (Persian Gulf, excluding Red Sea), United Arab Emirates

Countries prohibiting to insure on CIF basis:

Brazil, Cameroon, Ecuador, Guinea, Guinea Bissau, Haiti, Iran, Kenya, Mali, Mauritania, North Korea, Oman, Pakistan, Somalia, Syria, Tanzania, Tunisia, Uganda, Yemen

Valuation

Goods and/or merchandise shall be valued and insured for the invoiced purchase price plus any prepaid and/or advanced and/or guaranteed freight if not included in the original purchase invoice plus 10% plus any import duty payable on arrival into the United States; if sold, valued at the Assured’s selling price less unincurred charges, costs expenses and discounts.

Used Goods and/or Merchandise: Actual Cash Value (ACV)