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CARGO INSURANCE THAT PROTECTS YOUR GOODS
Why Cargo Insurance Matters
Cargo in transit faces numerous risks including damage, loss, theft, and contamination. Whether shipping domestically or internationally, a single incident can result in substantial financial losses and damage to customer relationships. Insure24's cargo insurance provides comprehensive protection for your goods throughout the supply chain, ensuring your business can recover quickly and maintain customer confidence.
Comprehensive Cargo Coverage
Protect your goods with tailored insurance solutions covering transit, storage, and worldwide operations.
- Goods in Transit - Protection for cargo during transportation by road, rail, sea, or air against damage, loss, and theft.
- Goods in Storage - Coverage for goods stored at warehouses, depots, or distribution centres against theft, fire, and damage.
- All-Risk Coverage - Comprehensive protection against most perils except those specifically excluded, providing broad cargo protection.
- Named Peril Coverage - Protection against specific listed risks, offering cost-effective coverage for common cargo hazards.
- Worldwide Coverage - Protection for cargo shipped globally, including international routes and cross-border transport.
Common Cargo Risks
- Cargo damage during handling and transport
- Theft and pilferage of goods
- Weather-related damage and water ingress
- Vehicle accidents and collisions
- Contamination and spoilage
- Fire and explosion damage
- Breakage and impact damage
- Cargo loss during transit
Why Choose Insure24
- Cargo Expertise - Our specialists understand cargo risks and can tailor coverage to your specific goods and routes.
- Global Coverage - Protection for cargo shipped worldwide with support across international routes and borders.
- Fast Claims Response - Rapid support and settlement when incidents occur, with dedicated cargo claims teams available 24/7.
- Competitive Pricing - Affordable premiums for comprehensive cargo coverage without compromising on protection quality.
How to Get Cargo Insurance
- 1. Get a Quote - Provide details about your cargo types, shipment values, routes, and shipping frequency.
- 2. Review Coverage - Our team explains your options and recommends appropriate coverage limits for your cargo operations.
- 3. Customise Your Policy - Adjust coverage limits, deductibles, and add optional protections based on your specific cargo needs.
- 4. Purchase & Activate - Complete your purchase and receive immediate coverage confirmation for your cargo shipments.
When our shipment was damaged in transit, Insure24's cargo insurance covered the full loss. Their claims process was efficient and professional, allowing us to replace stock quickly
Sarah L., Import/Export Business OwnerPROTECT YOUR CARGO INVESTMENT
- Full cargo replacement value compensation
- Transit damage and loss coverage
- Theft and pilferage protection
- Storage facility protection
- Worldwide shipment coverage
Compliance & Regulations
Our cargo insurance policies help you meet regulatory requirements and industry standards including:
- CMR (Convention on the Contract for the International Carriage of Goods by Road) requirements
- International maritime transport standards
- Air cargo regulations and requirements
- Customs and import/export compliance
- Hazardous goods transportation standards
FREQUENTLY ASKED QUESTIONS
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What is cargo insurance?
Cargo insurance is a specialized policy that protects goods in transit against loss, damage, theft, and other perils during transportation by road, rail, sea, or air. It covers your cargo from origin to destination, including storage periods.
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Who needs cargo insurance?
Cargo insurance is essential for importers, exporters, freight forwarders, logistics companies, manufacturers, wholesalers, retailers, and any business shipping goods domestically or internationally. It protects your financial investment in goods during transit.
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What does cargo insurance cover?
Cargo insurance typically covers physical loss or damage to goods during transit, theft and pilferage, fire and explosion, collision and overturning, weather damage, water damage, and handling damage during loading and unloading operations.
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Is cargo insurance legally required?
Cargo insurance is not legally required in most cases, but it is highly recommended and often required by lenders, buyers, or sellers as a condition of sale. International trade contracts frequently require proof of cargo insurance.
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What is the difference between all-risk and named peril coverage?
All-risk coverage protects against most perils except those specifically excluded, providing broad protection. Named peril coverage protects only against specific listed risks. All-risk coverage typically costs more but offers greater protection for valuable cargo.
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How much does cargo insurance cost?
Premiums vary based on cargo type, value, route, mode of transport, packaging, claims history, and coverage type. High-value or fragile goods typically cost more. Contact us for a personalized quote tailored to your specific cargo shipments.
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Does cargo insurance cover international shipments?
Yes, cargo insurance provides worldwide coverage for international shipments by sea, air, road, and rail. Coverage extends from origin to destination, including transshipment points and temporary storage during transit.
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What is the difference between cargo insurance and freight liability?
Cargo insurance protects the cargo owner's financial interest in goods during transit. Freight liability insurance protects freight operators against claims for damage to goods they transport. Both are important but serve different parties in the supply chain.
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Does cargo insurance cover storage?
Yes, cargo insurance can cover goods during storage at warehouses, distribution centres, or temporary storage facilities. Coverage typically includes protection against fire, theft, and damage while goods are stored between transit legs.
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What is the claims process for cargo insurance?
Contact Insure24 immediately following cargo damage or loss. Document the damage with photos, obtain carrier reports, preserve damaged goods for inspection, and submit all required documentation. Our cargo claims team will guide you through the process and work to settle your claim promptly.
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Can I get cargo insurance for a single shipment?
Yes, we provide single-shipment cargo insurance for one-off or occasional shipments. For regular shippers, annual open cover policies provide continuous protection for all shipments throughout the year, offering convenience and cost savings.
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What is an open cover policy?
An open cover policy provides automatic coverage for all cargo shipments within agreed parameters throughout the policy period. It eliminates the need to arrange insurance for each shipment individually, providing convenience and ensuring continuous protection.
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Does cargo insurance cover temperature-controlled goods?
Yes, cargo insurance can cover temperature-controlled and refrigerated goods. Coverage includes spoilage losses from equipment failure or temperature fluctuations. Proper monitoring systems and maintenance records help ensure coverage and reduce premiums.
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What is Institute Cargo Clauses coverage?
Institute Cargo Clauses are standardized terms used in marine cargo insurance. Clause A provides all-risk coverage, Clause B covers named perils, and Clause C provides minimum coverage. These clauses define the scope of protection for international cargo shipments.
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Can I get cargo insurance for hazardous goods?
Yes, we provide specialized cargo insurance for hazardous goods transportation. Coverage includes spillage, contamination, and environmental liability. Hazardous goods require additional compliance documentation and typically higher premiums due to increased risk.
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What exclusions apply to cargo insurance?
Common exclusions include intentional acts, poor packaging, inherent vice (natural deterioration), delay, war or terrorism (unless specifically covered), and losses from inadequate documentation. Policies also typically exclude coverage for goods not properly declared. Review your policy for specific exclusions.
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How can I reduce my cargo insurance premium?
Implementing proper packaging, using reputable carriers, installing tracking systems, maintaining excellent claims history, and using secure storage reduces premiums. Higher deductibles and limiting coverage to named perils can also reduce costs, though this may leave you underinsured.
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Does cargo insurance cover theft?
Yes, cargo insurance covers theft and pilferage during transit and storage. However, coverage may be limited if adequate security measures are not in place. Using secure vehicles, tracking systems, and approved storage facilities helps ensure coverage.
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What is inherent vice in cargo insurance?
Inherent vice refers to the natural tendency of certain goods to deteriorate, decay, or self-destruct without external cause. Examples include rust, mold, fermentation, and evaporation. Cargo insurance typically excludes losses from inherent vice unless caused by an insured peril.
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Can I get cargo insurance for air freight?
Yes, cargo insurance covers air freight shipments worldwide. Air cargo insurance protects against loss, damage, and theft during air transport, including ground handling at airports and temporary storage during transshipment.
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What is the difference between CIF and FOB insurance?
CIF (Cost, Insurance, Freight) means the seller arranges and pays for cargo insurance. FOB (Free On Board) means the buyer is responsible for arranging cargo insurance. Understanding these terms is crucial for determining who should purchase cargo insurance in international transactions.
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Does cargo insurance cover sea freight?
Yes, cargo insurance provides comprehensive coverage for sea freight shipments worldwide. Marine cargo insurance protects against loss, damage, and theft during ocean transport, including port operations and temporary storage at ports.
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What is CMR insurance for cargo?
CMR (Convention on the Contract for the International Carriage of Goods by Road) insurance covers cargo damage during international road transport. It provides standardized protection across EU countries and is required for cross-border freight operations.
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Can I get cargo insurance for valuable goods?
Yes, we provide specialized cargo insurance for high-value goods including electronics, jewelry, artwork, and luxury items. High-value cargo requires additional security measures and typically commands higher premiums based on cargo value and risk assessment.
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What is contingent cargo insurance?
Contingent cargo insurance (also called contingent goods insurance) covers cargo damage when you are not the cargo owner but have a financial interest in the goods. This is useful for consignees, agents, and businesses with contingent financial interests.
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How often should I review my cargo insurance?
Review your cargo insurance annually at renewal, or whenever your business changes significantly (new cargo types, increased shipment values, expanded routes, new trading partners). Regular reviews ensure your coverage limits remain adequate as your cargo operations grow and evolve.