Shipping Insurance


Domestic Shipments

MIT is self insured for domestic shipments under their property policy. This coverage is for equipment purchased with MIT funds. Departments do not need to purchase additional insurance with their shipper. There is no charge to the department. In the event of a claim, please contact the Insurance Office.

Value limit: $25,000,000

International Shipments

MIT can insure international shipments under its Ocean Cargo policy. The Insurance Office will need to be notified prior to shipment. Please provide Sarah Voigt at the Insurance office with:

  • Type of equipment
  • Value of equipment
  • Dates of shipment
  • Location of shipment

Value Limits:

  • $500,000 shipments by any one vessel and connecting conveyances
  • $100,000 any one package shipped by mail or private delivery service
  • $500,000 shipments by any one aircraft and connecting conveyances

Departments will be charged a rate of .2875 per $100 which tends to be as competitive, if not better than rates offered by shippers. If charge is less than $50.00 the Insurance Office will absorb the cost. If the charge is in excess of $50.00, the charge will be allocated to the Insurance Office with the cost center designated by department.

Example:

Ship Date(s)

Description

Destination

Shipment

Value

Insurance Cost

6/10/11 - 5/2014

Amplifier/Generator

MIT to England

$100,000

$100,000/100x.2875 =$287.50