Marine Cargo Insurance compensates you for loss of or damage to goods while being transported as cargo from one place to another, whether the transportation be by air, water (sea or inland waterways), or over land (rail or road). This insurance provides protection to your goods from the moment they leave the warehouse at the point of origin to the point they arrive at your door.
How much will I pay?
Pricing for Marine Cargo Insurance is determined by several factors including:
Nature of goods being transported
Nature of packaging (whether containerised or non-containerised)
Method of shipment (whether it is airfreight of sea freight)
Cover required (ICC A, ICC B or ICC C)
The previous claims history probably over the last three years
The extend of coverage is determined by the type of insurance you choose. There are 3 main types of Marine Cargo Insurance: Institute Cargo Clauses A (ICC A), Institute Cargo Clauses B (ICC B), Institute Cargo Clauses C (ICC C).
Extent of coverage
The extent of cover for each is as per table below:
Swipe to view more
ICC A
ICC B
ICC C
Fire Explosions
Vessel or craft stranded, sunk, burnt or capsized
Land conveyance overturned or derailed
Collision or contact of vessel
Earthquake, lightning, or volcanic eruption
Malicious damage
Theft
General Average sacrifice
Jettison
Washing overboard
Entry of sea/river/lake water into vessel, craft, conveyance, container or place of storage.
Total loss of any package lost overboard or dropped whilst loading onto, or unloading from vessel or craft
.jpeg)
.jpeg){kind=spacer}
.jpeg)
.jpeg)
.jpeg){kind=spacer}
.jpeg)
.jpeg)
.jpeg)
.jpeg)
