International exposure and experiences can be an excellent way to promote your business. You can protect your goods while doing so with ATA Carnet insurance. If you are shipping goods overseas for a short period of time, you may have considered using an ATA Carnet. These “Admission Temporarire/Temporary Admission” documents allow individuals and businesses to avoid paying duties and taxes on goods transported to a foreign country for less than a year. Insurance can protect your goods while they are in transit and while they are overseas.
Select a Comprehensive Policy
Not all cargo shipping insurance policies cover goods while they are in transit or while they are in storage in a foreign country. Be sure to select a policy that will protect all items listed on your Carnet. It is important that they are protected while leaving your home country and while they are traveling between Carnet member countries.
Carnets work because any imported goods leave the foreign country within a year. Should goods be lost or stolen during that time, you may not be absolved of the responsibility to export those goods within the time determined by the Carnet. Without the proper ATA Carnet insurance, you could pay for the loss of your goods twice, both when they are lost and when you are required to pay duties and taxes.