Cargo Insurance Coverage Options & Terms

for insuring individual shipments / moves.

There are 2 different Coverage Types to choose from:

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

Land Shipments: Shipments by land are insured to cover goods while on docks, wharves or elsewhere on shore/land and or during transportation, it shall include the risks of collision with another conveyance, derailment, fire, lightening, sprinkler leakage, cyclones, hurricanes, earthquakes, floods (meaning the rising of navigable waters), and /or collapse or subsidence of docks or wharves. Coverage for partial loss if amounting to three percent of the shipment.

Consignment Theft coverage for all commodities valued at $10,000.00 or more and weighing less than 100lbs,
SHIPPED BY GROUND “Small Package Service” is not available unless
shipped by “Next Day Air Service”, and carrier service must be prior
approved.

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

Limits of liability:
$500,000.00 for any one shipment by land, air or ocean.


Deductible

$500.00 or 1% Deductible (whichever is greater)
Subject to change based on high values

Requirements/ Eligibility


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

 

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. Effective January 1, 2018: All Risk coverage for Artwork and similar items is only available for shipments valued at $10,000.00 or less. Any shipments insured for $10,000.00 and above are insured under the conditions of Institute Cargo Clause C (Basic Cover).

Partial or Full Theft coverage for all commodities valued at $10,000.00 or more and weighing less than 100lbs, SHIPPED BY GROUND: “Small Package Service” is not available unless shipped by “Next Day Air Service”, and carrier service must be prior approved.


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

Limits of Liability:
$500,000.00 for any one shipment by land, air or ocean.


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.