Value Protect

Q: Is Value Protect an insurance?

No, Value Protect is not an insurance, it is an extended liability product and applies only for the carrier-managed part of the cargo journey.

Q: Why would I need to worry about the safety of my cargo when I ship with Hamburg Süd?

We take care of every container we ship, however some events will be outside of our control, such as extreme weather, fire or perils of the sea that may result in cargo loss or cargo damage. International laws are guarding carriers and setting potential pay-out limits. By purchasing Value Protect, you will have peace of mind with the knowledge that even if an unpredictable event should occur, you and your business are protected and will receive fair compensation.

Q: I already have an insurance, why should I buy Value Protect?

Marine cargo insurance protects cargo owners from the known risk of transports. For some customers it might be quite complicated, time-consuming and expensive to apply and contract for all shipments. Value Protect has a simple pricing model: there are no hidden costs and it doesn’t require additional document submissions or additional costs in case of claims. Value Protect can be easily purchased as part of your ocean freight contract or for individual shipments simply by getting in contact with your local Hamburg Süd sales representative.

Q: Can I buy Value Protect for any container and commodity?

• Value Protect can be purchased for any commodity shipped in dry containers with different options depending on your needs: Dry Starter, Dry Base, Dry Plus and Dry Extended packages.
• Value Protect can be purchased for selected commodities shipped in reefer containers, according to your needs: Cool Standard and Cool Advanced packages are valid for all reefer cargo, except fish, shellfish, some chilled fruits and berries.
• For special cargo, the Special Standard and Special Advanced packages are available in addition to the packages for dry cargo.

Find more details in the Value Protect terms under terms and conditions .

Q: Can I purchase a Value Protect Dry package for my reefer shipment?

No, the Dry packages are valid for dry cargo only. For your reefer shipment you can purchase one of our Cool packages. See the question related to containers and commodities above for details.

Q: Can I purchase Value Protect for break bulk cargo?

No, unfortunately break bulk cargo is not included in the Value Protect offer.

Q: Can I purchase Value Protect on a shipment level?

Yes. We can file Value Protect for a full contract or for specific products in the contract. Value Protect can also be added to individual shipments at the time of booking.

Q: Can I buy Value Protect for only some of the containers in my shipment?

No, the same Value Protect package must be purchased for all containers under the same shipment, covered under a single B/L. If you are shipping containers that need to transit without the Value Protect compensation, they need to be housed under a separate B/L.

Q: Do I need to fill in a special form to purchase Value Protect?

No, once you have decided on the Value Protect package you want, we will include Value Protect in your contract and it will be applied to all of your shipments. Getting rid of risks has never been easier!

Q: How will I receive the invoice for Value Protect?

Value Protect will be invoiced together with the ocean freight and will be shown as a separate item listed on your Hamburg Süd invoice.

Q: Is Value Protect active when my shipment is moving over land?

Value Protect is valid while your cargo is in our care and custody. If you arrange your pre-carriage and on-carriage with Hamburg Süd, then Value Protect will also apply to that part of the transport.

Q: In case of a claim, how do I receive my compensation?

In case of cargo loss or damage, please contact your local customer service representative. Our agent will be glad to take all details and transfer the case to the claims handling team for quick resolution.

Please expressly advise that this is a claim under Value Protect upon notifying the cargo loss or damage and provide relevant proof so that the claim can easily be identified as being submitted under Value Protect conditions.

Q: Which documents are required to submit the claim?

Customers who have purchased any of the Value Protect packages will be required to only provide the following documents to file a claim:

• the commercial invoice
• a letter of protest
• colour photos
• Some cases might require an independent surveyor’s report to show the extent of the damages

Q: How soon will my claim case be handled?

All claims for cases for which Value Protect was purchased will be resolved within 14 days of when your fully documented claim is received.

Q: Will Hamburg Süd appoint a surveyor on my behalf in case of cargo damages?

Hamburg Süd will appoint a surveyor on behalf of the customer in case cargo damage has occurred for shipments compensated by: Value Protect Dry Plus, Dry Extended or Cool Advanced packages.

Q: What happens in case of General Average? Will I have to provide a bank guarantee or other documents?

General Average (GA) is a long-established procedure in the maritime industry for distributing extraordinary losses and expenditures in a fair manner between the parties (i.e. vessel and cargo) involved in case of a casualty.

The GA Adjuster will ask the cargo owner to provide security for the GA expenses according to the contribution of the cargo prior to proceeding with the release of cargo. If Value Protect has been purchased and the required GA security is within the Value Protect coverage limit, there will not be a requirement to place any security for GA and/or salvage contribution. Hamburg Süd will place the security subject to receipt of required documentation from the customer. However, a customer who purchased Value Protect will still need to provide the following documents:

• Packing list
• Average bond (signed and stamped by customer)
• Commercial invoice (to calculate the security amount based on the percentage of contribution as advised by the GA Adjuster)
• Sign the subrogation letter for Hamburg Süd to handle the claim

If the required GA security is higher than the purchased Value Protect coverage limit, customer will need to provide the whole amount of security directly to the GA Adjuster.

Q: Why do I need to provide an average bond if Hamburg Süd will be placing security on my behalf?

The average bond establishes the identity and contact details of the receiving party in order to make contact after delivery, if necessary, regarding information about the goods. Further, the GA bond establishes a promise to pay, which in case of Value Protect compensation will be fulfilled by Hamburg Süd.