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If You Value Your Goods, Insure Them With Us!

Let us tell you a bit about the insurance packages that Seven Seas Worldwide has to offer. Even if you choose not to take out insurance, it’s good to have a quick glance at this page to know your options. Don’t worry; we’ll skip to the chase. Here are our two choices.

 

Total Loss Insurance

 

Seven Seas Worldwide automatically provide Total Loss Insurance cover of £100.00 (or equivalent currency in country of origin) for each box, suitcase, holdall, backpack or any other individually-packed item at a cost of £3.50 (or equivalent currency in country of origin) for each item.

 

This insurance covers total loss of the box, suitcase, holdall, backpack or other individually-packed items. However it does not cover partial loss of the box, suitcase, holdall, backpack or other individually-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 it.

 

All Risk Insurance (Exclusions apply – Please refer to the Terms and Conditions)

 

How do I work out the insurance premium?

 

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.

 

Below is a table of calculations as an example. 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! Remember to use the currency of the country you are sending your belongings from.

Shipping insurance


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Below is an example of how to calculate the premium.

 


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There is a single limit of 25% applied to each respective category. Taking our example if a single item of clothing is lost then the maximum you can claim would be 25% of Box 1, Clothes Value £150, equalling £37.50. Example premium calculation – Take 5% of £385.00 = £19.25 (premium to pay).


Make sure that your personal effects are insured for their FULL replacement value in the country of destination. If you under-insure your goods, we will have to apply the term ‘average’.


Here’s an example: An item is 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.

The last thing we should mention is damage. Damage to the contents of a consignment is not covered unless the items damaged have been carefully packed either by Seven Seas Worldwide, a reputable retailer from whom the item was purchased or 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. (Sorry to sound bossy.) 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 or email insurance@sevenseasworldwide.com.

 

All claims MUST be submitted within 30 days of receipt of consignment.