What is Lump Sum Marine Insurance?
Lump Sum is, by far, the most efficient and reasonable, because you don’t have to worry about forgetting or over- or under-insuring goods. You only list items whose replacement value at destination is over $3,000. Every other item in the shipment is automatically insured for up to $3,000. The insured value of the total shipment is based on $12/lb and the rate is 25% less than the alternative.