Goods in transit insurance (cargo)

Goods in transit insurance (cargo) offers all clients involved in import or export of goods coverage of shipments transported to the risk of the policy holder, from the point of loading to the point of unloading.

Cargo liability insurance offers an opportunity to insure different kind of carriage, vehicle or the destination. This insurance covers all risks the goods are exposed to during transportation that may be by sea, inland waterways, road, railway, air or combined.

Subject of insurance are damages caused to the goods by:

• Traffic accident of transporting vehicle
• Fire or explosion caused by exceptional external causes
• Natural disaster
• Theft
• Damage to insured items – goods during transport, loading and reloading
• Damage to the packaging

Types of Cargo Insurance:

• Specific cargo policies for single domestic or international transport
• Open cover cargo policies in domestic or international transport

When insurance holder opts for coverage against various consignments, then open cover cargo policies get activated and when the insurance holder wants to insure a particular consignment, then it can be under the category of specific cargo policies.