Cargo Insurance

Cargo insurance is a specialized form of coverage intended for shipments in transit from one place to another. It offers a protective shield against various transit-related risks such as theft, loss, or damage. It encompasses coverage for ocean and air freight policies, general average, stranding, sinking, burning, and collision, heavy weather, faults in vessel management, strikes, riots & civil commotions (SR & CC), pilferage, leakage, breakage, rough handling, explosion, jettison, improper stowage by the carrier, and war policy.

The range of risks included varies based on the specific policy. Frequently covered risks encompass theft, loss, damage, or destruction of cargo, in addition to damage stemming from natural disasters or transit accidents.

Cargo insurance is highly recommended for those shipping goods internationally, though it’s also beneficial for domestic shipments. For those transporting high-value or delicate items, cargo insurance becomes even more essential to mitigate potential risks.

The cost fluctuates based on several factors such as the goods’ value, mode of transportation, destination, and the extent of coverage required.

Dedola Global Logistics provides more bespoke coverage options and competitive rates than traditional insurance providers. We strive to help our clients discern which services limit liability and determine the best way to insure their goods.

Upon discovering damaged cargo or loss of commodities in transit, a claim should be promptly filed with your insurance provider. Dedola assists in understanding the specific details required in claim documentation, including presenting evidence of loss or damage such as receipts or other pertinent paperwork.

Marine cargo insurance covers goods transported by sea, while freight insurance covers goods transported by land or air. However, in the shipping industry, the terms marine cargo insurance and cargo insurance are often used interchangeably.

While cargo insurance isn’t legally mandatory, it is usually required by shippers, carriers, and other parties involved in goods transportation. Certain countries might also stipulate specific requirements for their cargo insurance program. Dedola Global Logistics recommends consulting with our expert risk managers to understand liability, responsibility, and other necessary details.

The suitable coverage level depends on the goods’ value and nature, and the associated risk level. Working with our seasoned insurance provider will ensure that you obtain the right coverage for your needs.

Yes, policy alterations can usually be made post-purchase. However, changes may involve restrictions or additional costs. It’s crucial to scrutinize the policy terms and liaise with your insurance company to ensure correct implementation of any changes.