Ad Valorem Insurance
Benefit from compensation up to the real value of your goods, automatically and regardless of the cause of the damage suffered.
Ad Valorem Insurance
Whatever the mode of transport, goods are exposed to numerous risks (accidents, thefts, damage...) in the context of international transport. These risks can lead to supply chain delays and significant financial losses for businesses.
OVRSEA recommends Ad Valorem insurance which offers total compensation taking into account the value of your goods thus simple and fast procedure!
OVRSEA recommends Ad Valorem insurance which offers total compensation taking into account the value of your goods thus simple and fast procedure!
What is insurance Ad Valorem?
Ad Valorem insurance is insurance taken out for each transport that offers complete coverage, contrary to the limits of carrier liability provided for by law and international conventions.
Limits of carrier liability provided for by law or international conventions, according to their mode of transport
International route
8.33 SDR* per kilogram of gross weight of missing or damaged goods.
Aerial
22 SDR per kilogram of gross weight of missing or damaged goods (in addition to the damage/loss compensation).
Marittimo
666.67 SDR per package/unit or 2 SDR per kilogram of gross weight of missing or damaged goods (whichever is greater).
Ferroviario
17 SDRs per kilogram of gross weight of missing or damaged goods.
(*SDR: Special Drawing Right, international reserve asset based on a basket of international currencies. End of 2023, 1 SDR = 1.24€)
Benefits Of insurance Ad Valorem
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Ensure the real value of your goods
Unlike default insurance, which calculates compensation in the event of a claim based on the weight of your goods, Ad Valorem insurance offers compensation up to 110% of the real value of your goods, without applying a franchise!
A fast & easy service
Ad Valorem insurance guarantees automatic and rapid compensation, without requiring complex administrative procedures.
In addition, no deductible is applied, which guarantees full compensation.
In addition, no deductible is applied, which guarantees full compensation.
An all-risk insurance
Our Ad Valorem insurance offers comprehensive global coverage from collection to delivery, as part of Ovrsea's services.
Ad valorem insurance offers comprehensive compensation for all modes of transport, including in the event of force majeure events (see more details in our FAQ below).
Ad valorem insurance offers comprehensive compensation for all modes of transport, including in the event of force majeure events (see more details in our FAQ below).
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What is insurance Ad Valorem?
Ad Valorem insurance is insurance taken out for each transport that offers complete coverage, contrary to the limits of carrier liability provided for by law and international conventions.
(*SDR: Special Drawing Right, international reserve asset based on a basket of international currencies. End of 2023, 1 SDR = 1.24€)
To find out more about Ad Valorem insurance:
Contact us
Shipping without insurance Ad Valorem | Shipping with insurance Ad Valorem | |
---|---|---|
Compensation calculation | around €20,667 (25 × 666.67 × 1.24*) * 1 SDR = €1.24 Application of the carrier's liability limits provided for by law or international conventions | 110% × 200,000 = €220,000 |
Franchise | €20,000 (10% × €200,000) The deductible is 10% of the value of the damage (with a minimum of €9,000 and a maximum of €24,000). | 0€ |
Final amount of compensation | around €666.7 (20,666.7 - 20,000) | 220,000€ |
FAQS
What is not covered by Ad Valorem insurance?
Excluded from coverage are:
Transport to or from, including in transit, from countries subject to international sanctions (Democratic People's Republic of Korea (North Korea), Cuba, Iran, Syria, Syria, Syria, Syria, Ukraine, Syria, Syria, Syria, Ukraine, Venezuela).
Cases of wars or civil wars, strikes, acts of piracy or government seizures.
In case of doubt, do not hesitate to contact our teams.
Transport to or from, including in transit, from countries subject to international sanctions (Democratic People's Republic of Korea (North Korea), Cuba, Iran, Syria, Syria, Syria, Syria, Ukraine, Syria, Syria, Syria, Ukraine, Venezuela).
Cases of wars or civil wars, strikes, acts of piracy or government seizures.
In case of doubt, do not hesitate to contact our teams.
What is the cost of Ad Valorem insurance?
Excluded from coverage are:
Transport to or from, including in transit, from countries subject to international sanctions (Democratic People's Republic of Korea (North Korea), Cuba, Iran, Syria, Syria, Syria, Syria, Ukraine, Syria, Syria, Syria, Ukraine, Venezuela).
Cases of wars or civil wars, strikes, acts of piracy or government seizures.
In case of doubt, do not hesitate to contact our teams.
Transport to or from, including in transit, from countries subject to international sanctions (Democratic People's Republic of Korea (North Korea), Cuba, Iran, Syria, Syria, Syria, Syria, Ukraine, Syria, Syria, Syria, Ukraine, Venezuela).
Cases of wars or civil wars, strikes, acts of piracy or government seizures.
In case of doubt, do not hesitate to contact our teams.
How do I take out Ad Valorem insurance?
Excluded from coverage are:
Transport to or from, including in transit, from countries subject to international sanctions (Democratic People's Republic of Korea (North Korea), Cuba, Iran, Syria, Syria, Syria, Syria, Ukraine, Syria, Syria, Syria, Ukraine, Venezuela).
Cases of wars or civil wars, strikes, acts of piracy or government seizures.
In case of doubt, do not hesitate to contact our teams.
Transport to or from, including in transit, from countries subject to international sanctions (Democratic People's Republic of Korea (North Korea), Cuba, Iran, Syria, Syria, Syria, Syria, Ukraine, Syria, Syria, Syria, Ukraine, Venezuela).
Cases of wars or civil wars, strikes, acts of piracy or government seizures.
In case of doubt, do not hesitate to contact our teams.
Another question?
Contact us
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We advise you in your transport strategy in line with your business imperatives.