Cargo insurance
Cargo insurance, or goods insurance protects against unexpected events
Cargo insurance provides insurance cover for the transport of goods for the entire value of the goods, including loading the goods onto the means of transport at the place of departure, transshipment, and intermediate storage during the usual route and unloading the goods at the place of destination. Cargo insurance cover is based on international conditions that are equally understandable to different parties in different countries when it comes to interstate transportation.
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Period selection
You can insure both one specific shipment and the total volume of shipments in one period (usually a year).Your cargo is insured to the extent of the entire value
The liability of the persons transporting the cargo and organising the shipment is limited, it can cover only a fraction of the damage in the worst case. If there is cargo insurance, the client does not have to worry about whether the carrier is liable for compensation for the damage caused or how much they are liable.Transport costs
In addition to the value of the goods, the transportation of cargo is accompanied by other costs, in particular, transport costs. They can also be added to the sum insured, if necessary.Cargo rescue costs
Cargo insurance also covers the costs related to the cargo and rescue of the ship. If the ship and its cargo are in danger, an emergency is declared and the cargo owners must provide a guarantee of participation in the rescue costs (e.g., the Suez Canal incident) in order to receive the goods after the rescue.What does ERGO cargo insurance cover?
As a rule, cargo insurance is covered on the principle of all-risk insurance, i.e., all losses that are not excluded by the terms and conditions are insured. Here you will find a list of what is included in the contract.
All-risk cover
As a rule, cargo insurance cover works on the principle of all-risk insurance, i.e., all losses that are not excluded by the terms and conditions are insured. For example, fire and water damage, natural disaster, theft or robbery, traffic accident, including ship, flight or railway accident, and damage during loading are covered.
Said risks
Cargo insurance can also be taken out against the said risks, such as a fire, traffic accident, including a ship, flight or railway accident.
Damage when loading
The insurance cover also includes loading the cargo onto the means of transport at the consignor’s place and unloading from the means of transport at the consignee’s place. Transshipment and intermediate storage of the cargo during the normal route is also insured.
Costs related to the rescue of cargo
We will indemnify the costs related to the rescue of cargo, including those related to the General Average.
What does ERGO cargo insurance cover?
As a rule, cargo insurance is covered on the principle of all-risk insurance, i.e., all losses that are not excluded by the terms and conditions are insured. Here you will find a list of what is included in the contract.
As a rule, cargo insurance cover works on the principle of all-risk insurance, i.e., all losses that are not excluded by the terms and conditions are insured. For example, fire and water damage, natural disaster, theft or robbery, traffic accident, including ship, flight or railway accident, and damage during loading are covered.
Cargo insurance can also be taken out against the said risks, such as a fire, traffic accident, including a ship, flight or railway accident.
The insurance cover also includes loading the cargo onto the means of transport at the consignor’s place and unloading from the means of transport at the consignee’s place. Transshipment and intermediate storage of the cargo during the normal route is also insured.
We will indemnify the costs related to the rescue of cargo, including those related to the General Average.
In addition to the covers in the main package, it is possible to add various additional covers.
Exhibitions
It is possible to insure the cargo both during transportation to the destination and back, including, if necessary, the cover is also valid during the exhibition period.
War and strike risk
It is possible to insure against war and strike risks, provided that the cargo route does not include high-risk areas, e.g., war zones.
Cargo delay
It is possible to choose insurance cover to cover the direct costs arising from the delay of the cargo in the amount of the freight.
Moving
It is possible to insure the moving of personal property of private persons and the moving of the company’s furnishings to a new address.
Contingent insurable interest
It is also possible to insure cargo if the risk of destruction and damage to the goods does not lie with the policyholder throughout the route.
For example, according to the terms of delivery of the contract of sale of goods, from the port of departure, the insured risk for the destruction of the goods is assumed by the buyer of the goods.
In addition to the covers in the main package, it is possible to add various additional covers.
It is possible to insure the cargo both during transportation to the destination and back, including, if necessary, the cover is also valid during the exhibition period.
It is possible to insure against war and strike risks, provided that the cargo route does not include high-risk areas, e.g., war zones.
It is possible to choose insurance cover to cover the direct costs arising from the delay of the cargo in the amount of the freight.
It is possible to insure the moving of personal property of private persons and the moving of the company’s furnishings to a new address.
It is also possible to insure cargo if the risk of destruction and damage to the goods does not lie with the policyholder throughout the route.
For example, according to the terms of delivery of the contract of sale of goods, from the port of departure, the insured risk for the destruction of the goods is assumed by the buyer of the goods.
Good to know / FAQ
Yes, it is. Carrier’s liability insurance protects the carrier, not the owner of the goods. The liability of the carrier is limited, in some cases the carrier is not liable at all, and the liability of the carrier is also limited if they are liable for the cause of damage. For example, in road transport, the carrier’s liability is limited to about 10 euros per kilogramme of missing or damaged goods. This means that the carrier, for example, is not obliged to compensate more than 100 euros if 10 kilogrammes of goods are damaged, even if the carrier has to compensate for the damage. In many cases, the real value of the goods is many times greater.
Yes, cargo insurance indemnifies the damage, regardless of whether the carrier was liable for the damage or not or what was the degree of their negligence.
Yes, the cargo is insured for its entire value (usually the amount of the invoice for the goods). To the value of the cargo can be added the cost of transportation and other direct costs related to the transportation of cargo, as well as non-refundable taxes (e.g., customs duty, excise duty). Also, 10% of the cargo can be insured to compensate for indirect costs and the higher value of the cargo at the destination.
Yes, cargo insurance cover also provides a guarantee to the shipping company that the cargo owner will participate in the cost of rescuing the ship and cargo (General Average Bond).
