What if the goods is lost when shipping ?

if you buy the insurance, the shipping company will accout for your loss.
and insurance company will accout for part of the loss, it is according to the insurace policy suppiers sign

There is no need to buy any insurance unless the goods are over say 100,000 or so, other wise you can file a claim with your shipping company and wait to get a check in the mail for the goods they lost. Yet there is some grey area here especially if the goods are lost at the port which is where it usually happens. in this case its best to have insurance and you can get loyds of london they are the best

Always check with your forwarder wheres their original route be extra carefull if they do pass through Somali or war zone as even if your goods are insured you can't claim it unless you pay additional fees.

If you are doing international/cross business deal, it is suggested to always cover for the insurance fee. ------------Considerations: ------------1. Cross border deal involving port (air and sea) handling. Many parties are involved in this area, from dropping up the goods from the plane/ship, moving it to the inspection, custom checking, breaking up the package for inspection, etc. Many hands are involved. You will not know exactly what will happen in other country's port. ------------2. Insurance fee is not high, its very small. Regardless the value of your goods, it is suggested to pay for insurance fee. If goos is being insured and then lost, you can claim to the shipper and the seller as well. They will usually responsible and pay for the claim with same amount that declared in the package.

  Almost, the shipping lines wont take the responsibility and compensation. 

If you cannot afford the loss of the cargo, then you should buy All Risks Cargo Insurance. Your carrier if they are a freight forwarder will offer it to you at a reasonable premium. Carriers themselves have a very limited liability and the risk of damage and loss is for the buyer and seller, since....there is always risk. The fine print on any bill of lading or transport documents will cover this.

If there is no All Risks Insurance coverage then you may still make a claim, but it is policy to refuse liability immediately and only sometimes, will a carrier pay according to their limited liability.

Bottom line, always carry All Risks