INSURANCE

Your Grace, the translation from Bulgarian to English for your revered request is as follows:

Whether to insure the goods is most often decided by the trader. Whether the seller and/or the buyer should insure, to what extent the goods should be insured, and under what conditions, are matters of negotiation.

Insurance is a written contract between the issuer of the insurance policy and the insured, where the insurer undertakes to compensate the insured party against certain risks and damages incurred to the goods, as well as to cover additional expenses made for the physical preservation of the goods and/or ship. The subject of the insurance can be the value of the goods and/or the value of the transport. Very often, the insured does not pay enough attention to their obligations under the insurance contract, that is, the fulfillment of the clauses that make them a “proper party to the contract,” entitled to claims for compensation. Such clauses include, but are not limited to, the type of packaging corresponding to the type of chosen transport, which in turn meets the requirements of the respective goods.

Insurance is a very necessary additional expense in international trade and transport, for example, if during sea transport, the shipowner or captain of the ship declares “General Average” according to Maritime Law, YOU will be obliged with a percentage of the emergency expenses that the shipping line declares. You insure not only against the risk of damage or loss of your goods but also against the risk of extraordinary expenses declared by the shipowner for damages to a third party, for repair, or even loss of the ship. Can you afford to lose not only the cargo but also to pay additional expenses for a declared “General Average”? It has happened to others before, it can happen again!… Get Insurance!

Delta Shipping Ltd., as an official agent of BULSTRAD (Vienna Insurance Group), can offer you “All Risks” insurance coverage, including the risk of military conflict under very competitive conditions. We have the opportunity to offer you all kinds of cargo insurance covering various clauses.

We issue insurance policies as an Agent of the Insurance Company, that is, we do not pay compensation, this is done by the Insurer according to its General Conditions and against duly presented documents for filing the respective damage.