Your merchandise always remains your property. It is therefore understood that you will hold us harmless in the event of any loss, damage or theft.

Insurance coverage is available for items stored at all approved Shipwire warehouse facilities. Insurance is offered by Shipsurance and provided by Underwriters at Lloyds.

How is inventory insurance calculated?

Warehouse coverage is based on the total value at risk per warehouse. This amount increases when items are stored in each warehouse. For example: You ship and insure $100,000.00 worth of widgets to Shipwire’s Chicago warehouse on May 3rd. You sellout of the widgets and on May 18th ship and insure $100,000.00 more worth of widgets to the warehouse. This equates to $200,000.00 of exposure and this is the insured amount.

Can I insure only a portion of my inventory?

You must insure all your inventory. It is not possible to insure only a portion of your inventory.
What are the conditions of coverage?

Below are the coverage conditions:

• Property Insured
  In consideration of premium as set forth elsewhere herein, this coverage is hereby extended to cover goods insured while temporarily detained in approved warehouses subject to terms and as hereinafter provided.
• Perils Insured
  All Risk - Goods shall be insured subject to the same terms and conditions as applicable during transit from warehouse to warehouse, as set forth in the cargo insurance certificate to which this amendment is attached, except as hereinafter excluded or specifically provided for; however, all losses resulting from earthquake shall be subject to a deductible of $100,000.00 each loss or occurrence and a sub limit of $2,500.000, all losses resulting from windstorm, hurricane or flood shall be subject to a deductible of 5% of total insured value (at time of loss), minimum $50,000.00 each loss or occurrence, all other insured perils subject to a deductible of $500 or $1000, as defined in the premium section. Each named location separately Insured.
• Valuation
  Commercial invoice.
• Other Insurances
  In the event that the Assured shall also have placed other insurance on goods at any location covered by this amendment , this insurance shall not apply.
• Perils Excluded
  Notwithstanding anything written or printed above or elsewhere herein, and in addition to the perils excluded in the policy to which this amendment is attached, the following perils are excluded from coverage:
  A) loss or damage to goods stored in warehouses owned, leased or controlled by the Assured caused by or resulting from misappropriation, secretion, conversion, infidelity or any dishonest act on the part of the Assured or other party of interest, his or their employees or agents.
  B) any unexplained loss, mysterious disappearance or loss or shortage disclosed upon taking inventory. (This exclusion shall only apply to locations owned, leased or operated by the Assured).
  C) loss or damage caused by corrosion, rust, dampness of atmosphere; extremes of temperature, deterioration, wear and tear, inherent vice, delay, loss of use or loss of market consequential or indirect loss or damage to any part or parts of the goods or merchandise insured hereunder which are not physically damaged or destroyed.
• Co-Insurance
  Item(s) must be insured for the full value that is at risk. If it is not, during claim settlement, a co-insurance penalty will be incurred. The following formula will be used: The insured value, divided by the full value of the item(s) at risk, times the lesser of the repair expense amount of the claim or the total loss amount.