BIMCO | What is the Damage Claim Process, when Premium Insurance is booked?

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Before you keep reading, make sure...

Please check if the leasing deal you are working on is under BIMCO or our updated Standard Container Leasing Agreement. From the 21st of September, 2023, 00:00 CEST - All leasing transactions that are accepted from that point onwards will be governed by the new terms. Leasing transactions accepted previously will still be governed by the BIMCO Boxchange agreement.

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What is the Damage Claim Process, when Premium Insurance is booked?

Containers can get damaged at any stage of the logistical process and it is a common part of our business. However, settling a repair claim can often be quite a tiresome and time-consuming process.

To simplify and speed up this process at xChange we developed a product that helps you deal with reclaiming your damage costs in a couple of clicks.

The following procedure will help you to sort out your claim in an efficient and speedy manner while adding transparency to the process. For detailed info on repair claims please visit the BIMCO multiparty agreement


 Reporting Damages

In order to start the damage process, you can go to the Claims tab as shown in the image below and click on +New Claim or simply email your estimates of repair and pictures to


When can a damage claim be submitted?

As per BIMCO Multiparty Interchange Agreement, the supplier has to share any damage claims within 5 (05) working days (Mo-Fr) after equipment has been reported as returned in xChange. Within these 5 days the supplier can either submit via the report button on the damage deal page or via an email to If estimates are not sent to xChange within the timeframe stipulated above, the claim will be considered extemporaneous and therefore null and void.


What happens if the damage claim cannot be submitted within the above time-frame?

In case the above-mentioned time frame cannot be met due to reasons beyond the control of the SUPPLIER, xChange can help you if you give notice. The important thing is that you notify of the existence of damages (which precise container number(s) and then complete the claim as soon as possible at a later date if necessary.


Does any additional information need to be provided?

When submitting a damage claim, it is not only important to meet the 5 working day time-frame but to also provide the deal number, container number(s), EOR(s) (Estimate of Repairs) and pictures of the damages (the photos should clearly depict the damages and the container number). The estimates should include the following items: Comp code, Loc code, Damage code, Repair code, Length, Width, Quantity, Labour Hours, Labour Cost, Material Cost, Total Cost


Can the claim and estimates be in any language?

No, the damage claim and repair estimates must be in English format.


What happens once damage(s) have been reported?

When insurance has been booked either the USER or SUPPLIER sends the repair estimates, photos, and depot contact details (address, phone, e-mail) to xChange:

  • xChange forwards the information to the insurance partners and communicates to the Depot/Owner to make containers available for inspection.
  • An insurance-appointed surveyor will contact the depot and schedule the survey
  • The supplier is to make the equipment available for survey at his own cost. In case the supplier does not make the equipment available for survey or releases the equipment before the survey has taken place, the supplier automatically forfeits the right to claim damages and will bear all repair-related costs.
  • xChange receives the revised estimates from the surveyor and shares the revised estimates with both parties. The results of the survey are final.
  • The standard procedure for payment is:
    1. SUPPLIER pays the total (revised) amount to the depot
    2. xChange credits the SUPPLIER's wallet with the total (revised) amount minus DPP
    3. xChange charges the USER’s wallet with the total (revised) amount minus DPP
    4. xChange credits the USER’s wallet with the insurance refund

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