Insurance is not necessarily required to ship to the UK but you should review whether this is something you should consider based on the Incoterms® you have agreed with your supplier.
Dependant on the Incoterms® chosen, the risk associated with your purchase moves at a specific point in the shipping process. For example, if you chose to work with DDP (Delivered Duty Paid) terms then the Seller bears all Risk until the Buyer receives the goods, while if you chose FOB (Free On Board) terms the Risk moves to the Buyer at the point it loads on the vessel at Origin.
You should always ensure you read the fine print to ensure insurance coverage meets your needs, with policies varying on commodities, routes and value. Only specific policies cover delays, while most do not. Other policies cover you only for General Average Contribution, which are the costs associated with loss or damage to a ship or its cargo, with costs shared between the owners of the ship and owners of the cargo on board.
If you’re shipping your cargo across the sea, you want to know that you won’t lose money if your cargo is damaged or lost. This is why Twill offers Value Protect, giving you peace of mind that your cargo is protected during the transportation with us.