When booking a shipment or filing an Inbound Cargo Alert, the Air Lagos Shipper must specifically decline insurance or select one of the following insurance options.
Total Loss Insurance
If while travelling between our warehouses, your shipment, is completely destroyed, or damaged to such an extent that it is "no longer the thing that it was", or is completely lost without any chance of recovery you may be reimbursed for the total value you declared. The rate is 5% of the total value declared, plus costs and the minimum policy is $5.00 USD.
If your shipment, is partially lost or damaged whiletravelling between our warehouses and there is evidence that the damage is caused by other cargo or equipment outside the box, pallet or crate containing your cargo, and your cargo is packed to professional standards, you may be reimbursed for the actual value of your loss, less the insurance deductible. Claims of this nature require documentation of the value of the actual value of the cargo. The minimum policy is $25.00 USD.
You ship a box containing 2 iPhones and declare a total value of $1,000.00 USD. The Total shipping & handling costs are $15.00. .05 x ($15.00 + 1,015.00) = $50.75. $50.75 is added to the invoice you would pay if the cargo arrived safely in Lagos. If the cargo was lost or stolen in Nigerian Customs, you would be paid $1,000.00 USD or receive the exact replacement items.
You ship 5 HDTV televisions on a pallet and insure for $3500.00 USD. Your insurance costs based upon the declared value and cost of freight is $225.00. The cargo arrives in Lagos and two televisions have screens that are cracked by a forklift. The cost to repair the televisions is $2400.00. The proportional value of the damaged televisions is $1400.00. Your claim would be for $1,400.00 and less the $500.00 deductible you would be receipt a payment of $900.00 USD