What is Basic Insurance?

What is covered under Basic Insurance? 

• Basic Insurance protects the Insured from (Constructive) Total Loss, General Average, and Mysterious Disappearance

What is not covered under Basic Insurance? 

• Any damages to the container (see our Premium Insurance instead) 
• Cleaning and contamination
• Cosmetic scratches, sticker removal
• Wear and tear (+ OLD) 
• Please check the full list of exceptions in our xChange Container Insurance Policy

Furthermore, the Insurance Provider does not provide insurance coverage in case of conflict and warlike events on land as well as confiscation due to war exclusion clauses.

• This includes, but is not limited to, the exclusion of all claims in Russia, Belarus, and Ukraine, which are suspended until further notice.

What is the insurance cycle? 

• One Basic Insurance cycle is 60 days - this means the insurance is valid for one-way moves up to 60 days after pick-up (per container).
• After the initial 60 days, the insurance will be automatically renewed on a daily basis until the actual date when the containers are reported as empty returned/dropped off on xChange (not until the reported drop-off date).

When are the insurance costs charged?

• Charges occur on the first day of coverage and are billed monthly.
• The insurance contract is only valid once you click Start Basic Insurance in the checkout box. Prior to this, no contract is s made, no container is/ will be insured, and no charges occur.

How can I claim Insurance?

To start the insurance process, the user of the containers must reach out to ConOps via email (conops@container-xchange.com) team and provide the following set of documents:

• Proof of 3rd party responsibility
• Search history for the unit
• Photos of the original containers and their CSC plates
• Evidence of interchange for the units
• Stock report from the drop-off depot

Furthermore, additional documents could be requested by the Insurance Provider for the purpose of the insurance investigation. Only until all the necessary documents are received and approved by xChange will the insurance claim be considered as open.

In total, the overall duration of the claim process from opening to closure is approximately 2 months. You can find more information about the insurance process here.

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