• Available for transits by Land, Sea and Air
  • Policy Coverage Range: Warehouse-Warehouse, Port-Port, Door-Door (subject to your Incoterms commitment)
  • Fast and professional claims handling
  • All our policies are underwritten by Sterling Assurance
  • Cost-effective yet fully comprehensive
  • Contact us for advice on a suitable policy for your needs.

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Cargo Insurance FAQ Frequently Asked Questions

Cargo insurance covers goods and/or merchandise against damage or loss, while in transit from one location to another.

Carrier liability is often limited to only .50 cents per pound and not based on the actual replacement value of your items. If you want to be covered for the full value of you items, you need full replacement value primary cargo insurance.

Inland transit covers domestic shipments via land (truck & rail) and or air shipments. Ocean Cargo Insurance provides coverage for shipments traveling via boat/ocean.

Coverage for cargo insurance is often referred to as Warehouse to Warehouse. This coverage begins when transit begins and terminates when the cargo is delivered to the final destination.

An “Open” marine cargo policy is designed for frequent shippers. The contract will cover all transits that come within the scope of the insurance. Premiums are debited monthly, quarterly or annually. The main advantage of this type of policy is that the client does not need to report each shipment individually to ensure cover is in place. Instead, they declare shipments as required, or in bulk for a set period, on a set date. The policy is generally written on a wide basis to cover all goods and merchandise throughout the year. The Insured must present the Insurer with all the specific details of their business, including the type of goods involved, limits, and destinations. Shipments outside of the norm, or in excess of limits or geographic allowances, must be reported in advance

Marine cargo policies always contain a FC&S (Free of Capture & Seizure) clause, which excludes war risks, strikes, riots and civil commotions and similar risks. A specific agreement must be made for an additional premium to be paid if these perils are to be insured. There are three Institute War Clauses covering cargo, air cargo, and postal shipments. War Risk rates are set by the London Market War Risks Rating Committee or the American Market War/SR&CC Schedule. The political and social climates of a given country determine the rates.

A loss arising through a voluntary sacrifice of any part of the ship or cargo. When the vessel/boat owner declares a general average, the vessel owner and all the cargo interests will share the expenses associated with the general average on a pro-rated basis. These expenses are covered under a Marine Cargo Policy.