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Marine freight insurance
Cargo insurance for overseas migration
The transport of overseas immigrant goods is a combination of two or more modes of transport, which is a complete combination of the transport services, providing cargo insurance to cover the risk of loss in the transport process. Insurance products are taken over from the contractor and are covered with danger until the final delivery. The following are highlights of the standard terms and conditions for the protection of consumers by the Overseas Migration Cargo Association of Korea.
The contractor shall advise the customer of the importance of signing up for the cargo insurance. The method of compensation will be determined under the "Combined Transportation International Act" in the event of an accident in which the customer does not wish to sign up.
  • 1
    Compensation can be made within the insured value of the items and amounts listed in the specification of products.
  • 2
    It is unable to claim insurance on products that are found to be damaged in advance of packing.
  • 3
    Non-warrantable items: Cash, special articles, including coins, securities, precious metals, and jewelry and antiques.
Customer can require the original of insurance original forms.
Insurance claims for lost or damaged goods must be made within 60 days of the date of delivery and subsequent claims may be invalidated.
  • The inoperability of the products for which no external damage is identified, and the items not listed in the specification, cannot be claimed for insurance compensation.
Compensation from the insurance company for damage or loss of insured goods is made from the insurance company and cannot be requested to the transport contractor.
Compensation is only to be made in cash.
In the event that the shipping contractor does not insure the goods despite the fact that it has received the cargo insurance from the customer, the contractor is responsible for making compensation based on the actual value of the goods.
Take a look at the Standard Consumer Protection Terms for Cargo Insurance.
The main insurance company of GLS KOREA is CHUBB marine Insurance. The method of registration and liability of the cargo insurance may vary from one transport agent to the next. You must check the details of the shipping contract and make sure that the transport contract is signed to prevent conflicts that may occur in the event of an accident.
Cargo insurance registration method
When filling the insurance form, you must record the by box unit or item. The insurance price shall be properly subscribed considering the purchase price and depreciation of the product and the insurance price shall be the maximum amount that can be compensated in the event of an accident. (Unable to register the amount exceeding purchase price)
The compensation agreement by the insurance company begins with checking the current value of the damaged goods. Insurance securities beyond the proper value of the goods are not accepted. (Compensation price is unable to exceed the registered price)
Insurance premium is subject to individual contract if you are a private customer. If you are a corporate customer, it is settled according to the pre-consented transport contract.
Cargo Insurance Procedure
GLS KOREA will ensure the safe shipping and delivery as the first priority and do our best to make compensation in the shortest time in the event of product loss.
Recognizing the loss or damaged products
  • 1
    You have to make a photographic record as proof for damaged goods.
  • 2
    If a box is found to be lost, please fill it out in the DELIVERY REPORT.
  • 3
    Insurance claims should be submitted only once within 60 days of the final delivery and any further claims may be
    rejected, so you must apply after checking all the delivered items.
Applying for products loss
  • Report can be made through our partner agents but in order to conduct the compensation procedure fast, it would be better to inform your damaged or lost goods to the person in charge or through the phone calls. If you use the CATTS system, you can easily apply by smartphones.
The received insurance claim will be reviewed by the insurance company to pay the premium.