Cargo insurance is a specialized form of coverage that protects the financial interests of shippers, consignees, and other stakeholders against loss, damage, or theft of goods during transportation. This insurance provides compensation for cargo that is damaged, destroyed, or lost while in transit via any mode of transport—including ocean, air, road, or rail—from the point of origin to the final destination. Unlike carrier liability, which is typically limited by international conventions and carrier terms, cargo insurance offers broader protection tailored to the actual value of the goods being shipped.
Types of Cargo Insurance
- All Risks Coverage
- Named Perils Coverage
- Open Cover Policies
- Single Shipment Policies
- Valuation and Claims Process
