Additional

CARGO insurance

 

What is cargo insurance?

 

When shipping cargo internationally, it is important to consider all possible risks and take the necessary precautions to protect your goods and make sure they are as safe as possible.
This is why it is so important to have additional cargo insurance. This type of insurance can help protect your cargo in the event of an accident or other incident.

Cargo insurance is a policy that provides cover for additional costs if your goods are lost or damaged during transit. It can help cover the cost of repairing or replacing goods in the event of damage or loss. Cargo insurance covers all types of domestic and international transport (road, rail, sea, air).

 There are several things to bear in mind when choosing cargo insurance:

 

  • the amount of insurance cover you need will depend on the value of the goods and the type of transport you use. Both finished goods and raw materials can be insured, but note that this type of insurance does not cover animals, works of art or documents.
  • the policy will also have a limit on the amount it will pay out per occurrence. Make sure the limit is sufficient to cover the value of your goods.
  • the loading, carriage of goods, unloading and other activities necessary to complete your order are covered.
     

When choosing cargo insurance, it is important to compare the various options available to find the policy that best suits your needs.

 

Cargo insurance covers a wide range of losses. The insured is protected against natural disasters (fires, hurricanes, avalanches, earthquakes), robbery, theft (of property and means of transport), damage to property and natural disasters. Insurance also covers accidents and collisions of means of transport.

The most important thing to remember

 is that insurance usually covers costs per kg of weight of the goods, as opposed to cargo insurance, where we insure a specific good according to its value.

Cargo insurance - what does it not cover?

 

Like any insurance, cargo insurance has situations and goods that cannot be insured. Therefore, before taking out a policy, it is advisable to read the terms and conditions and compare the offers available on the market so as not to be disappointed.

The exclusions of liability are to be found in the T&C, or general terms and conditions of insurance, and may look slightly different in each package. It is very common for various events to be classified by insurers as 'gross negligence'. If the goods are incorrectly loaded, improperly packed or badly labelled, the regulations may authorise insurance companies to withhold compensation. Other exclusion clauses may include damage to or loss of goods caused by war, terrorist attack or other unlikely events.

In addition, insurers' exclusions of liability often also cover damage caused by alcohol consumption by the driver of the vehicle, personal documents and luggage, damage caused by delayed transport or live animals.

 

If you would like to find out more about additional cargo insurance for your goods

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