ATA Carnet Lost Document Coverage and ATA Carnet Cargo Insurance

ATA Carnet Lost Document Coverage and ATA Carnet Cargo Insurance

The ATA Carnet Lost Document Coverage and ATA Carnet Cargo Insurance are both additional options that you can add on to your ATA Carnet. Often overlooked, both have valuable attributes that protect the ATA Carnet holder from any unforeseen expenses.  Lost Document Coverage will help with avoiding costly fees and delays associated with losing an ATA Carnet in a foreign country while ATA Carnet Cargo Insurance is vital coverage for physical loss or damage to the goods being shipped on the ATA Carnet.

The ATA Carnet is still a physical document that is required to be presented to Customs along with the goods; we understand how easy it may be to misplace documents in today’s increasingly electronic world. The problem with a misplaced ATA Carnet is that you or your customer will be literally stuck and unable to clear Customs. Since the ATA Carnet must be present to enter or exit the foreign country, as well as re-enter the United States, a Duplicate ATA Carnet must be obtained. If the proper coverage is not purchased at time of the ATA Carnet application, the cost of obtaining the Duplicate ATA Carnet can run up to $500. In contrast, Lost Document Coverage is a flat $35 regardless of the value of the goods and when a Duplicate ATA Carnet is needed all charges are waived.

In addition to Lost Document Coverage, ATA Carnet Cargo Insurance can also be obtained at time of application for your ATA Carnet. Typical cargo insurance policies are usually not designed to cover the unique and comprehensive risks of goods travelling under an ATA Carnet. ATA Carnet shipments are unique in that they are not a one-time transport. A shipment on an ATA Carnet can continue traveling from country to country, with periodic stops in between where the goods are unpacked and then repacked. With this in mind, it is easy to understand why a typical cargo insurance policy may not fully cover goods moving on an ATA Carnet. Therefore, Roanoke Trade has developed an enhanced insurance policy to address the specific nuances of ATA Carnet shipments and close vital gaps in coverage. Features of this policy include “All Risk” coverage for new and used goods, including transit to and from a foreign ATA Carnet member country. Coverage continues while the merchandise is in these countries and provides duty reimbursement in the event goods are lost or stolen. The policy also covers goods checked as luggage or hand-carried on a commercial airline. It is important to note that many cargo policies do not extend coverage for risks when not in transit.

It is also important to note that not all ATA Carnet Countries are covered under this program and not all goods are fully insurable. Before purchasing the necessary coverage, it is always best to check with the ATA Carnet Representative to see if you can fully insure the goods. For example, goods travelling to Mexico, Russia, Belarus, Moldova and the Ukraine have limitations and require underwriter’s approval. Moreover, most fine arts and jewelry is excluded from this program. This does not necessarily mean that we will fully exclude these items from the insurance policy. We can arrange for a special program that will be beneficial to your type of shipments.

As you can see, the ATA Carnet Lost Document and ATA Carnet Cargo Insurance Policies provide additional coverage to your ATA Carnet.  The nature of the ATA Carnet requires careful planning and ensuring all documents are properly handled throughout the transaction. Therefore, you and your clients can rest easy knowing that if the ATA Carnet is lost or the goods are damaged, you are covered!

For more information about our additional ATA Carnet services, please contact us at 1-800-Carnets or via email at carnets@roanoketrade.com. Coverage is subject to policy terms and conditions.