Cargo Insurance
A large number of risks are always present when goods are moved across the sea, land or air. Whether it’s from the time the goods leave your warehouse, throughout the course of transit or until delivery to the final warehouse, keeping them safe is highly important, and at the same time, challenging. Cargo insurance protects you as the buyer or seller, against various hazards related to the movement of goods or cargo.
Who is Covered for Cargo Insurance?
Importers/Exporters
Freight forwarders
Distributors
Logistics Companies
Manufacturers
Trucking companies
Cargo Insurance Coverage
Seafreight Cover
Through navigable bodies of water by means of vessel
Airfreight Cover
By means of an aircraft
Inland Cover
Through dry land by means of LTO-registered vehicles
Stock Throughput Cover
Provides seamless cover for all moveable goods (inventory) that are subject of the insured’s trade, including raw materials, semi-finished and finished products
Container Insurance Cover
Covers various types of containers or tanks used in transporting cargo or any moveable properties while they are in transit or in a container yard
Cargo In Transit
Ensures recovery from cargo losses due to:
- Fire, explosion, stranding, grounding, sinking or capsizing of cargo vessel or craft
- Overturning or derailment of land conveyance
- Collision or contact of cargo vessel with any external object other than water
- Both-to-blame collision
Protection Against Various Perils
Offers additional coverage against:
- Earthquake
- Volcanic eruption
- Lightning
- Washing overboard
- Entry of water into the cargo vessel or craft, container of storage place
- Total loss of any package fallen overboard or dropped while loading or unloading
All Risk Safety Net Coverage
Covers losses and damages due to all causes mentioned above including protection against:
- Theft
- Pilferage
- Non-delivery of cargo
- Deliberate damage to or destruction of the insured goods by any person/s