Why would I need to worry about the safety of my cargo when I ship with Maersk?
We take care of every container we ship, however some events may be outside of our control, such as: extreme weather, fire or perils of the sea that may result in cargo loss or cargo damage. International laws are guarding carriers and setting potential pay-out limits. By purchasing Value Protect you will have peace of mind, so that even if an unpredictable event should happen, you and your business are protected.
Is Value Protect an insurance?
No, Value Protect is not an insurance, it is an extended liability product and it’s coverage is only for the carrier managed part of the cargo journey.
I already have an insurance, why should I buy Value Protect?
Marine cargo insurance protects cargo owners from the known risk of transports. For some Customers it might be quite complicated, time consuming and expensive to apply and contract for all shipments. Value Protect has a simple pricing model: there are no hidden costs and it doesn’t require additional document submissions or extra cost in a event of a claim. Value Protect can be easily purchased as part of your Ocean freight contract or per shipment, simply by getting in contact with your local Maersk office.
Can I buy Value Protect for any container and commodity?
Value Protect Dry packages can be purchased for any commodity shipped in dry containers, with different recovery levels: Dry Starter, Dry Base, Dry Plus and Dry Extended.
Value Protect Cool packages can be purchased for selected commodities shipped in Reefer containers: Cool Standard and Cool Advanced packages are valid for all reefer cargo, except fish, shellfish, some chilled fruits and berries.
Find more details in Value Protect services.
Can I purchase Value Protect Dry Plus package for my Reefer shipment?
The Dry Plus package is valid for dry cargo only. For your Reefer shipment you can purchase our Cool Standard or Cool Advanced packages. For more information see Value Protect packages
Can I purchase Value Protect on a shipment level?
Yes. We can file Value Protect for a full contract or it can also be added to individual shipments at time of booking. Simply make you booking online as usual and you will be presented with the option to add Value Protect. For more details please see how to book Value Protect
Can I buy Value Protect for only some of the containers in my shipment?
No, the same Value Protect package must be purchased for all containers under the same shipment, covered under a single B/L. If you are shipping containers that need to transit without the Value Protect cover, they need to be housed under a separate B/L.
Do I need to fill in a special form to purchase Value Protect?
No, once you have decided on the Value Protect package you want, we will include Value Protect in your contract and it will be applied to all your shipments. Getting rid of risks has never been easier!
How will I receive an invoice for Value Protect?
Value Protect will be invoiced together with the Ocean freight and will be shown as a separate line on your Maersk invoice.
Is Value Protect active when my shipment is moving over land?
Value Protect is valid while your cargo is in our care and custody. If you arrange your pre-carriage and on-carriage with Maersk, then Value Protect will also apply to that part of the transport.
For further information please see Value Protect terms
In case of a claim how do I receive my compensation?
In case of cargo loss or damage, please contact your local customer service agent. Our team will take all details and transfer the case to the claim handling team for quick resolution.
Which documents are required to submit the claim?
Customers who have purchased any of the Value Protect packages will be required to only provide the following documents to file a claim:
- Commercial invoice
- Letter of protest
- Colour photographs.
In some cases we might require an independent surveyor’s report to show the extent of the damage
How soon will my claim case be handled?
All claims for cases where Value Protect was purchased will be resolved within just 14 days from when your fully documented claim is received.
Will Maersk appoint a surveyor on my behalf in case of cargo damages?
Maersk will appoint a surveyor on behalf of the Customer in case cargo damage has occurred for shipments covered by: Value Protect DryPlus, Dry Extended or Cool Advanced packages.
What happens in case of General Average? Will I have to provide a bank guarantee or other documents?
General Average (GA) is a long-established procedure in the maritime industry for distributing extraordinary losses and expenditures in a fair manner between the parties (i.e. vessel and cargo) involved in case of a casualty.
The GA Adjuster will ask the cargo owner to provide security for the GA expenses according to the contribution of the cargo prior to proceeding with the release of cargo. If Value Protect has been purchased, there will not be a requirement to place any security for GA and/or salvage contribution. Maersk will place the security subject to receipt of required documentation from the Custom er. However, a Custom er who purchased Value Protect will still need to provide the following documents:
- Packing list
- Average Bond (signed and stamped by Customer)
- Commercial invoice (to calculate the security amount based on the % of contribution as advised by the GA Adjusters)
Why do I need to provide Average Bond, if Maersk will be placing security on my behalf?
The ‘Average Bond’ establishes the identity and contact details of the receiving party in order to make contact after delivery if necessary, regarding information about the goods. Further, the GA bond establishes a promise to pay, which in case of Value Protect cover will be fulfilled by Maersk.
I’m shipping Out of Gauge cargo, can I purchase Value Protect Dry Extended package to cover my logistics-related risks?
Yes. All Value Protect Dry packages (Starter, Base, Plus and Extended) are valid for Special Cargo (in-gauge and out-of-gauge) carried in Open Top and on Flat Rack containers. In addition to the Dry packages, you also have the choice between two special cargo packages with higher recovery levels.
Can I purchase Value Protect for Break Bulk cargo?
No, unfortunately Break Bulk cargo is not included in the Value Protect offering.
