Insurance Terms Conditions

Last updated on: 29th January, 2019.

Policy Administered by:
Online Shipping Insurance Services, Inc.
3211 Cahuenga Blvd West, 2nd Floor, Los Angeles, CA 90068
License #0G55434

SHIPGATE provides shipping insurance for your online purchases from lost, damaged and theft while in transit.

SHIPGATE Insurance is managed by InsureShip and underwritten by The Navigators Group, with an A.M Best Rating A+ "Excellent".

SHIPGATE is not an insurance company, InsureShip handles all SHIPGATE claims.

Coverage

Coverage provided by this program covers the parcel or freight and its contents from all risks of physical loss or damage from an external cause (subject to the exclusions listed below) while in transit.

All parcel or freight that are covered by this program will be shipped in strict accordance with all regulations of the Carrier. Shipments must originate from the South Korea.

Coverage is only provided for shipments through commercial parcel or freight companies.

All provided information regarding shipments that require coverage must be correct and complete. If incorrect details are provided when insuring a package there will be no coverage.

In order for a package to be covered, the shipping carrier must have verified acceptance of your package for mailing. This is found on the respective tracking websites of the shipping carriers. If a shipping label is printed but not scanned by the carrier as accepted it is deemed as never been mailed and there is no coverage.

Cancellation Policy/Return Policy

We take great pride in providing you the best possible shipping insurance. The customer is able to cancel their insurance policy for a full refund any time prior to shipment by merchant. Once an item has been shipped, all shipping insurance sales are final.

Definitions

The following terms have specific meanings throughout this program and are important:

1. Carrier means the company that is transporting the parcel or freight covered by this program.
2. Freight means packages or shipments transported through commercial freight Carriers.
3. Insured means the Shipper(s), individual(s) or companies who have elected to purchase insurance through this program.
4. Parcel means packages or shipments transported through parcel carriers.
5. Total Insured Value means the total value of the item(s) declared for insurance coverage. Includes the Carrier provided coverage, if any.

Coverage Limits

SHIPGATE Insurance can cover up to 5,000 USD per package

Policy Exclusions

Flowers, plants, fine art, cotton, fresh foods, live animals, precious stones and metals, cash in transit, cigarettes, eggs, species, securities and other negotiable papers, bulk products, laptop computers, computer chips and similar memory devices, televisions, Tablets, mobile phones, unless endorsed in writing. Merchandise shipped in consignment, memorandum, or approval unless shipped in fulfillment of and order or request.

Excluded countries: Afghanistan, Angola, Bolivia, Burma, Iran, Iraq, Congo, Ivory Coast, Lebanon, Liberia, Libya, Nigeria, North Korea, Paraguay, Somalia, Syria, Zimbabwe, Venezuela or any other countries embargoed by the OFAC in the future.

Loss, damage, or non-arrival of any parcel or the contents of said parcel which (a) is addressed, wrapped or packed insufficiently, incorrectly or contrary to the packaging requirements of the carrier being used by the insured or (b) bears a descriptive label or packaging describing the nature of the parcel’s contents. Any parcel containing personal goods to accommodate an employer or employee.

Losses (Claims) being caused by infidelity, dishonesty, or any overt act on the part of the insured, associate in interest, and/or any of the insured’s employees, whether occurring during hours of employment or otherwise, or on the part of custodians (common carriers excepted), or the property insured, unless specifically endorsed herein in writing. Resulting from inherent vice, decay, clean up costs, loss of market, loss of use, latent defect, delay, changes in temperature or humidity, or other deterioration, any remote or consequential loss, whether or not arising out of a peril insured against. Arising out of loss from delivering the product to someone who obtains it by trick, false pretense, or other fraudulent schemes.

Against loss or damage caused by or arising out of; a) hostile or warlike action in times of both peace and war, including action hindering, combating, or defending against an actual impending or expected attack; b) any weapon of combat employing atomic fission/fusion or any other radioactive force in times of both war and peace; c) insurrection, rebellion, revolution, civil war, usurped power, or action taken by government authority in hindering, combating or defending against such an occurrence, seizure or destruction under quarantine or customs regulations, confiscation by order ofany government or public authority or risks of contraband or illegal transportation of trade. Nuclear Exclusion. Notwithstanding anything herein to the contrary, it is hereby understood and agreed that this policy shall not apply to any loss, damage, or expense due to or resulting from, whether directly or indirectly, nuclear reaction, radiation, or radioactive contamination, no matter what its cause. It is warranted by the insured that all parcels under this coverage will be shipped in accordance with all regulations of the carrier and amendments thereof.

Conditions

The deductible, if any, shall be deducted from the amount of the claim or liability limit, whichever is less, on a “per parcel” basis and borne by the insured. The insured is responsible for (and entitled to) collecting any amount for which the carrier may be Liable.

The insured must wait 20 days for domestic, 30 days for international shipments, to file for non-delivery claims. If damaged, the insured may file a notice of damage with Online Shipping Insurance Services immediately. All claims must be filed within 90 days of shipment to be honored. The insured will submit a completed Online Shipping Insurance Services claim form, copy of the original invoice to the consignee / original invoice from the shipper, whichever is applicable, a signed and dated statement from the consignee / receiving party, proof of damage if applicable and any additional documentation requested to substantiate the loss. Coverage does not include handling fees and insurance fees. All damaged property for which payment (not repair costs), or replacement costs have been made, must, on request, be returned to the Underwriters. Failure to hold the damaged property until the claim is fully resolved will result in the claim’s being denied.

The insured will have one (1) year from the date of the shipment to furnish any required and/or additional documentation requested by Online Shipping Insurance Services in order for the insured to substantiate said claim. Should the insured fail to provide the required and/or additional documentation within one (1) year from the ship date, the insured’s claim will be denied. Any covered loss will be promptly paid to the insured or their assignee after notice of loss or damage and the required documentation has been received and accepted by Underwriters in accordance with all terms and conditions of this coverage, unless property is replaced, at the option of the Underwriters, with like kind, function, and quality.

Upon payment for loss or damage, the Underwriters shall be subrogated to all the rights of the insured including whatever money may be recoverable. This payment excludes applicable deductible amounts corresponding to the claim settlement on account of said loss or damage from the carrier, or any of the carrier’s employees or agents, or from any other person or corporation whatsoever. The insured specifically covenants and agrees to aid the company in all manners possible to aid in securing reimbursement of said loss or damage. In the event the carrier admits to fraudulent activity from the carrier’s employees, the insured will take action against the carrier and not hold Online Shipping Insurance Services responsible for claims associated with said activity.

No suit, action or proceedings for the recovery of any claim under this coverage shall be sustainable in any court of law or entity unless the respective action is commenced within twelve (12) months after discovery by the insured of the issue giving rise to the claim, provided however, that said time limitation is invalid. In that case any such claim shall be void.

The insured or the Underwriters may terminate any users from this policy coverage at any time by giving fifteen (15) days written notice thereof, provided that such termination does not impact a shipment already in transit. Mailed or emailed notice of cancellation sent to the insured at the last known address shall be deemed sufficient compliance with the conditions of this clause on the part of the Underwriters.

SHIPGATE Insurance - Fraud Policy

By purchasing SHIPGATE Insurance, you certify that all information provided is accurate and truthful. Any fraudulent claim will make the shipper and/or consignee liable for prosecution for mail fraud under federal crime code.