In the first webinar of 2017, Tyler Zaichkin explains everything importers need to know about buying their insurance on CIF Terms.
One of the most common methods for businesses to purchase their ocean marine cargo insurance is to purchase it with through their foreign supplier on CIF (Cost, Insurance, and Freight) terms. Although this method may be the simplest way to acquire insurance on your ocean cargo, most businesses do not fully understand CIF and how/if they are truly protected from a loss.
In order to explain this confusing and often misunderstood topic, Trade Risk Guaranty held an in-depth webinar explaining CIF and what a buyer can expect with this type of coverage. This CIF webinar covers the following topics:
- Terms of Sale/Incoterms – 04:14
- Cost, Insurance, Freight (CIF) – 05:34
- Sellers & Buyers Responsibilities & Risks – 06:38
- Common CIF Pitfalls – 09:09
- Cargo Insurance Coverage Comparison – 15:03
- Free on Board (FOB) Basics – 18:21
- FOB vs. CIF Example – 19:12
For more information of CIF Insurance, check out our previous blog post: “4 Reasons Buying on CIF Terms May Not Protect Your Business“.