Insurance Service
Insurance Service Fee
The insurance fee is the ratio of the amount after converting the price of the products into Malaysian Ringgit : 1.5%
Min. insurance fee RM100
The maximum compensation amount is RM50000
If the insured goods is delivered locally, 6% additional tax will be charged as SST
Calculation of insurance fee
Example 1：
Total Goods value : RM5000
Calculation: RM5000 x 1.5% =RM75 (Min. Insurance fee RM100)
Insurance fee RM100
Example 2：
Total Goods value : RM10000
Calculation: RM10000 x 1.5% =RM150
Insurance fee RM150
Information required:
Product Name
Purchased quantity, unit price
Product Invoice
Product photos and outer packaging photos (It is recommended to contact the seller to ask for it when purchasing)
Precautions
The address cannot be changed after the products insured succesfully. If the address is changed, the insurance policy will be invalid. In addition, the insurance order will be insured according to the information provided by the customer, and the quantity and tracking number of the package that already verified with the seller before insuring
All insured products need to be reinforced before the products is shipping out from the seller
No maximum compensation amount,only covering loss, excluding damage of products and fragile items
Compensation for loss or damage is limited to 95% of the value of the goods.
Insurance covers for loss and damage of products (Damage insurance standards will be based on insurance company standards)
Insurance service is only provide for goods from GuangZhou to Malaysia (Air Freight and Sea Freight) now
Items that cannot be insured: such as fragile goods, artworks, minerals (Please consult our customer service for more details)
Natural disaster insurance (Not included goods in warehouse)Losses resulting from deliberate acts or negligence of the insured.
The insurance shall not be liable for the following losses:
Losses caused by the shipper’s responsibility.
Losses caused by the pre-existing poor quality or quantity shortfall of the insured goods before the commencement of the inspection obligation.
Losses or expenses resulting from natural wear and tear, inherent defects, characteristics, market price fluctuations, or transport delays of the insured goods.
Liability scope and exclusions as specified in this company’s marine cargo insurance policy and cargo strike insurance terms.
Information that need to be provided for the compensation application (after purchasing insurance service) includes:
Invoice for damaged/lost products
Claim letter
Report record (The policyholder needs to report the loss/damage of the goods to the police station)
Please provide the outer packaging of the parcel and all received package information such as photos and weight within 48 hours.
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