Cargo Insurance Coverage Options & Terms

for insuring individual shipments / moves.

There are 2 different Coverage Types to choose from:

1. Basic Risk
2. All Risk

The coverage terms, deductibles and eligibility requirements for each type are listed in the tables below. You may select which type you want on the Quote form and Order form when purchasing. Please contact us with any questions you have and we’ll be happy to answer. Toll Free: 1-800-297-7550.

For frequent shippers, we can arrange an open annual policy with all 3 coverage types for covering multiple shipments per month/year. For details, please submit a request for an annual policy. For any shipments with rare or special risks outside the regular terms below, we can provide a custom policy; please call or email your inquiry.

Summary of Coverage Types & Terms

For Domestic and International Shipments and moves of All values shipping by Land, Air or Ocean.

1. Basic Risk Coverage


Goods being shipped are insured for loss or damage to the shipment resulting from any of the following risks during transit :

  1. Collision
  2. Derailment
  3. Fire
  4. Lightning
  5. Sprinkler leakage
  6. Cyclones
  7. Hurricanes
  8. Earthquakes
  9. Floods
  10. Collapse of dock
  11. Jettison
  12. Stranding
  13. Sinking
  14. Overturning or other accident to
    the truck, train, boat or plane.

For full details of coverage, please view the Standard Terms listed below.

Deductible

$500.00 Deductible
Requirements/ Eligibility


This coverage is available for All Goods and all conditions: Used, New and Reconditioned.


No packaging requirements. Owner packed goods are accepted.

2. All Risk Coverage


Goods being shipped are insured against All Risks of physical loss or damage (partial & total loss) resulting from any external cause while in transit (door to door); including extended coverage for Loading and Unloading, War, Strikes, Riots, Civil commotions, Duty, Theft and Non-delivery of any portion of the shipment (individual items and/or the entire shipment). Subject to the Standard terms and any applicable special commodity terms and deductible listed below.

This is the Broadest All Risk coverage available anywhere, subject to very few exclusions which are standard in every cargo policy and considered to be rare; such as terrorism, nuclear events, radioactive contamination, delay in transit, improper/unsuitable packaging and willful misconduct by the insured.


For full details of coverage, please view the Standard Terms listed below.

Deductible

Most categories have a deductible, which varies from 1-5% of the total insured value (minimum $300-500.00 USD), depending on category of goods. Higher risk items have higher deductibles. Please select the category applicable to your goods below for specific deductible. If item not listed below, there is no deductible.


Requirements/ Eligibility


This coverage is available for all goods and all conditions: Used, New and Reconditioned. Underwriter requires the goods be properly or Professionally Packaged or packed in the original manufacturer packaging to be eligible for all risk.

Professionally packaged is defined as being properly packed for transit by a professional packer whom knows how to properly pack, box, crate and or palletize goods. Ie: packaged properly by the shipper, shipping carrier, moving company or a packaging company.


Owner packed goods are accepted.

Standard Policy Terms and Conditions

Standard Coverage Terms

All Risk Special Commodity Terms

 

Click here to view the full Standard Policy Terms and Conditions