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THE ESSENTIAL CARGO INSURANCE CHECKLIST
Are your imports and exports properly insured from door to door?
Many UK importers and exporters assume that carriers, suppliers or customers have arranged adequate insurance – only to discover gaps in cover when a loss occurs. This checklist helps you identify the key areas to consider when arranging marine cargo insurance for your international trade.
Cargo checklist support by location
Importers and exporters using this checklist often also want a local commercial page once the conversation moves into trade routes, Incoterms and the practical next step toward cover.
1. Trade Routes, Incoterms & Responsibilities
Clarify who is responsible for arranging cargo insurance at each stage of the journey.
- Identify all countries of origin, transit and destination
- Confirm carriage by sea, air, road, rail or multimodal
- Review Incoterms (e.g. EXW, FOB, CIF, DAP, DDP)
- Check who is contractually responsible for insurance
- Ensure responsibilities align with your risk appetite
- Clarify at which point risk transfers between parties
- Ensure contracts don’t undermine your insurance cover
2. Cargo Values, Limits & Sums Insured
Ensure limits properly reflect the value of your goods – including additional costs.
- Maximum value per shipment and per conveyance
- Values at cost, selling price or cost plus mark-up
- Inclusion of freight, duty and other charges
- Different limits for standard, high and very high-value goods
- Aggregate limits at warehouses and consolidation points
- Seasonal peaks and project shipments
3. Basis of Cover, Clauses & Exclusions
Understand exactly what your cargo policy covers – and where the gaps may be.
- Institute Cargo Clauses (A), (B) or (C)
- War, strikes, riots and civil commotion clauses
- Exclusions for inherent vice, delay and poor packing
- Conditions around packing, stowage and securing
- Extensions for temperature-sensitive or fragile goods
- Additional clauses for project cargo or used machinery
4. Storage, Consolidation & Warehousing
Check whether your goods are protected at all stages – not just when in motion.
- Cover at your own premises before dispatch
- Storage at consolidation centres and ports
- Cover at distribution centres and third-party warehouses
- Time limits for storage at intermediate locations
- Security, fire and risk management requirements
- Alignment with any separate property insurance
5. Documentation, Evidence & Claims
Make sure you can evidence ownership, value and damage if a claim occurs.
- Bills of lading, AWBs and CMR notes
- Commercial invoices and packing lists
- Proof of damage, loss or shortage
- Survey arrangements for major or complex losses
- Notification time limits and claims procedures
- Who handles subrogation against carriers
“Using this checklist, Insure24 helped us restructure our cargo programme so that every shipment is properly covered – from supplier to our UK warehouse.”
Import Manager, FMCG BusinessBUILD A CARGO PROGRAMME AROUND YOUR TRADE
- Annual and single-shipment cargo options
- Cover for sea, air, road and rail movements
- Protection across storage, consolidation and distribution
- Aligned with your Incoterms and contracts
- Specialist advice from Insure24 marine & cargo brokers
FREQUENTLY ASKED QUESTIONS
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Do I need cargo insurance if my supplier says the goods are insured?
It depends on the Incoterms and contract. In many cases, relying on a supplier’s insurance can leave you with limited control,
low limits or difficulty claiming. Arranging your own cargo policy often gives better protection and flexibility.
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What is the difference between carrier liability and cargo insurance?
Carrier liability is limited by convention and often much lower than the value of your goods.
Cargo insurance covers the full insured value (subject to policy terms), regardless of whether the carrier is legally liable.
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How are cargo insurance premiums calculated?
Premiums are usually based on annual sendings or turnover, the types of goods, routes and territories,
loss history, packing quality and security standards, plus the level and scope of cover required.
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Can I insure both imports and exports under one policy?
Yes, many marine cargo policies can cover imports, exports, inter-company movements and sometimes domestic transits,
subject to agreed territorial limits and conditions.
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What should I do if a shipment is damaged or lost?
Notify your broker and insurer immediately, keep all documents (bills of lading, delivery notes, photos, invoices),
and where necessary ask for a surveyor to be appointed. Insure24 can guide you through the process.
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Do I need cargo insurance if my supplier says the goods are insured?
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What is the difference between carrier liability and cargo insurance?
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How are cargo insurance premiums calculated?
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Can I insure both imports and exports under one policy?
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What should I do if a shipment is damaged or lost?
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