Total Loss Insurance
Seven Seas Worldwide automatically provides Total Loss Insurance cover of £100.00 or equivalent in country of origin currency for each carton, suitcase, holdall, backpack and other individual packed items. This insurance covers total loss of the carton, suitcase, holdall, backpack and other individual packed items but does not cover partial loss of the carton, suitcase, holdall, backpack or other individual packed items. Total Loss Insurance cover will incur an additional charge. It is company policy to recommend this minimal insurance cover but you do have the option to opt out if you do not wish to include this insurance cover.
All Risk Insurance
The Insurance Premium payable for cover is calculated as 5% of the ‘replacement value’ of the inventoried items in the shipment. The ‘replacement value’ is the value that it would cost to repurchase the items that have been lost. The value of the items you are insuring should be reflected in the currency of the country where your belongings presently reside.
Table of example calculations; there is no maximum insurable value for any one box. (Please note the sterling pound sign used in the following example is for representative purposes only, please use the currency of the country you are sending your belongings from.)
Example of how to calculate the premium:
There is a single article limit of 25% applied to each respective category. Using the example on the left: If a single item of clothing is lost, then the maximum you can claim would be 25% of Carton 1, Clothes Value £150, which equals £37.50.
Example premium calculation Take 5% of £385.00 =
£19.25 (premium to pay)
It is in your interests to make sure that your personal effects are insured for their FULL replacement value
in the country of destination. If you under-insure your goods, 'average' will be applied.
Example: Item insured for GBP100.00 but the ‘True Value’ of the Item is GBP200.00.
This means that the item is 50% under-insured. Therefore, the insurance company would only pay out
GBP50.00, which is 50% of the insured value.
Damage to the contents of a consignment is not covered unless the items damaged been carefully packed
either by Seven Seas Worldwide, a reputable retailer from whom the item was purchased of if they were
shipped in their original packaging. It is your responsibility to ensure that your completed insurance
form is received by Seven Seas Worldwide and payment has been made for the premium. Amendments to
insurance after collection will incur a 'Change Insurance Details Charge'. In the event of a claim, please
contact our offices immediately on the local freephone number as shown on our website
consignment.