Hyumdai Shippping Co., Ltd. : Moving abroad insurance claims

We will guide you through Hyundai Shipping Service claims.

Hyundai Shipping operates an independent system that covers all processes from overseas shipping packages to delivery.

The world's largest insurance company, AIG's cargo insurance company, provides insurance for all kinds of unusual situations, such as breakage or loss of cargo.

▣ Insurance claim

If the damaged goods are confirmed after receipt of the goods, please submit a claim for insurance claims and breakdown of damaged articles and repair materials within one month.

(Please note that insurance claims can not be claimed if one month has elapsed since receipt of the freight receipt.)

Upon receipt of the loss of cargo, please notify the local corporation and the agents on receipt of a loss confirmation document(DELIVERY RECEIPT), and submit them with the relevant documents on the insurance claim.

▣ Customer charges guide

Of the claims covered by insurance claims, USD 200 is covered by the customer and paid after the final payment amount.

(Insurance will not be paid if the subscription amount is less than USD 200.)

EX) Requisition amount USD $500 -> Receiving amount USD $300 

▣ Requirements for insurance claim amount

Insurance claims are paid by the insurance companies concerned in terms of purchase price, usage period, depreciation, and extent of damage. The entire claim amount may not be paid according to the audit criteria of the insurance company.

Additionally, there is no reward for personal and subjective values such as discoloration, difficulty in photographing, photo or correspondence.

▣ Requisition procedure guide

In case of unusual circumstances such as breakage or loss

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Preparation of an insurance policy document

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Register on Hyundai Shipping Customer Support Team

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Transfer to AIG insurance company.

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Review of Claim associate documents

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Deposit customer's designated account

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An insurance claim SAMPLE

▣AIG Cargo insurance clause(Moving cargo)

1. An insurance policy

①The transportation insurance subscription is the replacement cost of the destination, and the customer will arrange for the purchase of the insurance by considering the purchase price, usage time, and transportation cost of the item.

②The amount of transportation insurance that customers subscribe to constitutes the basis for subsequent damages. The insured insurance is insured below the actual value of the real estate and is paid in proportion to the amount of coverage covered by the insurance amount in relation to the coverage of the claim.

③Insurance policies can be insured only if insured items such as antique furniture, folding screens, antique painting, pottery, and antiques are insured for Expensive items exceeding USD 10,000.

④Customers can delegate their insurance to the sales representative if the customer's account has not been arranged directly by the customer. The Sales Manager shares the insured insurance by dividing the minimum amount of insurance money offered to the customer by the total box office. The responsibility for this is not due to sales representative or business owner.

⑤Operators shall not be liable for any scratch or damages incurred prior to the purchase of the goods, and shall not be held liable.

⑥Any loss of goods that have not been purchased or insured shall not be covered by the Company nor shall the licensee be liable.

⑦If you have signed by the door to port, you will receive only 50 % of the minimum amount of eligible insurance coverage.

⑧If one or more items are packaged in one box, the insured insurance amount is divided into equal portions when the payment is paid.

2. Payment of insurance money

Based on the amount of money you have received, you will be rewarded with a 'actual cash valuation' based on the amount of cash you have received or the 'Total Replacement value'.

The actual cash valuation assessment refers to a cash value at the present point of purchase of the item purchased.

'Total Replacement value'means the evaluation of the amount incurred due to the repair or replacement of a component.

After this assessment, you will receive a reduced depreciation fee and a compensation fee of less than the cost of replacement and repair.

※Customer charges is USD $ 200.

3. Set or a pair of articles

If a set object is lost or damaged, it will only compensate for the value of the missing or damaged parts.

The particular value of the damage does not account for the particular value of the damage and only compensate for the damage.

The Company's compensation liability is limited to reasonable repair costs and is not compensated for any resulting depreciation in any event.

4. Comprehensive excuses for exemption

①Damage, scratches, cracking, dents, and dents on household appliances and used furniture.

(However, except that the packaging operators and the client have found that they are free and have signed the documents at the time of shipment.)

②Loss or damage caused by mechanical or electrical electronic failure without external damage

③Mold, vermin, moths, ordinary natural damage, natural attrition, termites, rodents, unique defects, rust, and damage or damage resulting from the consequences or damages thereof

④Damage or damage caused by climate conditions or severe changes in temperature

⑤Goods packed by customers

⑥Cash, marketable securities, stamps, coins, Certificate of transfer, tickets, jewelry, clock, ornaments, similar items