What is Insurance Certificate? How is it regulated?

X The business you are exporting, importing large shipments need to learn about many procedures, papers, documents, ... including Insurance Certificate?
x You are interested and want to learn about the rules, content, functions and types of Insurance Certificate insurance certification?
X You want to know the process of issuing the Insurance Certificate? What is the difference between Insurance Policy and Insurance Certificate?

In the framework of this article, Proship.vn we will answer questions what Insurance Certificate is? What does the Insurance Certificate, including what content?, ... At the same time, businesses also grasped the process of applying for goods insurance certification.

Insurance Certificate: Definition, content and common certification

What is the Insurance Certificate and what content includes in the Insurance Certificate will be answered as follows:

What is Insurance Certificate?

Insurance Certificate is a certificate of insurance, a document issued by the insurer to the insurer to confirm the goods that have been purchased insurance under the contract conditions. One of the important regulations for transportation in general as well as container transport in particular today.

Content of Insurance Certificate

The content of the Insurance Certificate Insurance Certificate includes:

• Name and address of insurance enterprises;
• Name, address, phone number, account number of the insured person;
• Goods name;
• Number of insurance contracts;
• Type of insurance;
• Insurance objects;
• Value of goods, insurance amounts;
• Scope of insurance;
• Insurance term;
• Insurance fees;
• Where to pay compensation;
• Date, month, signature of the insured person.

Common certification types

There are types of popular Insurance Certificate insurance certification including:

• Certificate of road transport insurance: Insurance for road transport goods;
• Certificate of freight transport insurance: Insurance for seafar transport;
• Aviation insurance certificate: Insurance for goods transporting airway;
• Certificate of transport liability insurance: Insurance for shipping liability with damaged goods and loss;
• Comprehensive risk insurance certificate: Insurance for possible risks to goods during transportation.

What function does Insurance Certificate have and what to keep in mind when using?

The following content will help you know what the function of Insurance Certificate is and what to note when using this insurance certificate:

Functions of Insurance Certificate

Functions of insurance/insurance certification:

• Confirming this insurance contract has been established with specific terms and conditions that have been agreed by the two parties;
• Prove that the insured has fulfilled the payment obligation, ensuring the official insurance contract takes effect;
• As a basis needed to request the insurance company to pay compensation (if the risk occurs, causing damage to the goods).

Note when using Insurance Certificate

When using insurance certification, there are some important notes to know:

• Contact the insurance company when there is a change:

During the use of insurance certification, if any change is related to personal information, property or insurance conditions, it is necessary to contact the insurance company promptly for timely updates.

• Careful certification:

Should backup certification by taking photos or stored on electronic devices. This makes it easy to access when needed and avoid losing documents.

• Periodic inspection of insurance benefits:

Periodically check the benefits and levels of insurance. The insurance market often changes and always has better products to suit customer needs. This test will help not miss good opportunities and effectively protect financially.

• Read the certification content carefully:

Before signing and using insurance certificates should read each terms and content in the document. The understanding of the information in the certification helps make the right decisions and avoid trouble later.

See also: Get good cold container transportation

Distinguish insurance certificates and insurance

What is the difference between Insurance Policy and what is the Insurance Certificate? Insurance certificate and insurance are two important insurance documents. The insurance unit may be accepted instead of the insurance certificate or the insurance declaration.

But if LC requests to present the insurance application, the presentation of insurance certificates or declarations under the insurance contract instead of an unacceptable insurance unit:

Process of granting commodity certificates Insurance Certificate

The process of certifying the goods of Insurance Certificate as follows:

Step 1

Insurance buyer (individual/organization) submits insurance requests for insurance enterprises. Fill in the paper insurance request for the form of the insurance unit.

Step 2

Send insurance requests to the insurance unit.

Step 3

Insurance enterprises consider the request for:

• Assessment of risks related to insurance objects;
• Calculation of insurance premiums based on the value of goods, routes and other conditions, may require the Buyer to supplement information or documents (if missing).

Step 4

Insurance unit granted insurance or Insurance Certificate Certificate.

What Insurance Certificate is answered, accompanied by the regulations, functions, content, process of insurance certification, ... Any questions, businesses can contact 0909 344 247 for Proship Logistics to quickly advise on the safest and most cost -effective goods transport solutions.