Liability Cover for High-Value Tech Gear

Megan MacKeown|April 11, 2024

Reading Time: 5 Minutes

If you’re shipping high-value tech goods, you are vulnerable to cargo loss and damage. Be it damaged goods, stolen packages, or even entire shipments lost to sea. Ensuring you are covered – both financially and reputationally can make a difference to your business ventures.

Moving high-value tech products around the globe is risky.

Safeguard your high-value tech shipments with TecEx.

Damaged shipments impact bottom lines. If we put this into perspective, your costs can add up!

Original compliance + import + freight fees
Replacement of server rack + (import fees + compliance + freight for the second time)

Safeguarding Your Shipments

Not only can this be financial for the producer (replacements and shipping the products again), but it also serious reputational damage. Supply chain constraints already impact global trade lines (take the Red Sea issue), but if you consider the relatively short shelf life of high-value tech gear (especially in the age of AI) – any disruptions to supply chains can be disastrous.

No one would ever knowingly put their shipment at risk, but shipping high-value tech gear without liability coverage is a precarious business model.

Our Solution For High-Value Tech Gear

Did you know that electronics remain one of the top most stolen products, accounting for 8.5% of cargo theft incidents? Considering the state of global economics, many believe that cargo theft is set to increase. This is particularly so for electronic and high-value tech goods.

Don’t let cargo theft impact your bottom line.

Safeguard your shipments with TecEx today.

From damaged cargo to hijacked ocean liners and driver theft – we make sure that those who ship high-tech are covered.

It’s the total replacement value – and yes, this includes your freight, tariffs, and import fees (with a 10% buffer!)

No need to worry about your gear getting safely to where you want it to go.

Chat with a TecEx Expert Today

What’s Covered?

Let’s say you have a shipment of a server rack at a value of 30 million heading to Brazil. In itself, this country is a high-risk lane for importing high-value tech gear. Should something go wrong, we will cover all your import fees, compliance costs (this is any licenses and permits needed for dual-use goods), freight fees, replacement of the gear, and a 10% buffer.

TecEx goes beyond just the cover. Our solutions are fully customizable to ensure your tech gear gets where it needs to go with no hassles and no extra administration.

Going Beyond Cover

Using TecEx as your centralized global trade partner, our Importer of Record solution can reduce shipping timelines. Through our compliance database, any high-value tech part will be efficiently classified, ensuring seamless customs clearance.

Freight

Whether you have a freight provider or not, our white glove delivery service ensures the careful handling of your high-value tech gear!

Dedicated Account Manager & App

Through a single point of contact, you will get complete transparency throughout the shipment. From tracking to quoting, the TecEx App can get your projects on the go in no time.

TecEx’s liability cover is so comprehensive that you will truly ship risk-free.

TecEx covers the total value of the tech gear – this includes import costs and a 10% buffer.

How Does TecEx’s Liability Cover Compare To Others?

Other than shipping with your fingers crossed, the only alternative to TecEx’s liability cover would be to set up a sell captive within the Cayman Islands. Our cover is so comprehensive and specifically focused on high-risk, high-value tech gear that no one else can offer what we offer.

To put this into perspective, TecEx’s liability solution encompasses:

Varied perils are covered – from damage to theft!
There are no hidden T&Cs
This covers the full replacement value of your goods (we don’t look at the weight or what country)
We also cover all the import fees with a helpful 10% buffer
We handle the process of any claims on your behalf – zero administration for you.
We act as the single point of contact throughout the entire process.
Our coverage is global

Sound good?

Check out all the TecEx solutions we offer.

Liability cover – quick and simple.

Reach out today!

Is My High-Value Tech Shipment Not Covered Through My Carrier’s Insurance?

Unfortunately not. Accidents happen. We all understand this. But, when it concerns your business’s bottom line and reputation, things can become a blame game. Was it the carrier? Was it packaged incorrectly? Then the administrative burden is dropped on your shoulders as the onus will be on you, the sender, to prove that the carrier is actually liable.

So, who is liable for any damage or losses to your shipments?

First up, couriers and freight forwarders have limited liability under international conventions for the goods and/or damage to goods.

Secondly, your goods will only be covered during the transit period.

Thirdly, you will need to prove that the damage or loss is due to negligence on the carrier’s behalf – and that in itself can become a headache.

Read up on our blog, where we go into the nuances of cargo versus freight forwarder insurance.

Risk-Free Shipping Ahead

Whether you are an OEM handling an RMA project or a reseller sending your client’s high-value tech gear to a data center, this cover is for you. It will protect your goods through the entire journey, safeguarding your bottom line.

Insurance FAQs

What kinds of losses are covered by TecEx?

Varied perils are covered. This is anything from damage during offloading all the way to cargo loss if containers are lost at sea.

Are there any policy limits?

TecEx’s liability cover covers shipments of up to and exceeding $30 million. It is transport neutral, meaning the shipment can go via sea, air, rail, or road. Should the total value exceed, the shipment can be structured in a way to ensure the values are within the $30 million limit.

TecEx’s liability cover excludes shipments to the following destinations: Angola, Bosnia & Herzegovina, Burundi, the Central African Republic, Croatia, the Democratic Republic of Congo, Haiti, Kosovo, Macedonia, Montenegro, North Korea, Rwanda, Serbia, and Slovenia.

If it’s so risky, why do you offer it?

We work with the best of the best. From our partnerships to expert staff, we have done all the research on the best possible routes for shipping tech gear, and we are completely confident in our processes. However, accidents do happen, and we want to ensure that our clients experience the best service possible by limiting their exposure to these risks.

Liability Cover for High-Value Tech Gear

Safeguarding Your Shipments