Businesses

Goods in transit

Your goods covered door to door.

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Port terminal cranes and containers at dawn, seen from the water
  1. Origin warehouse
  2. Road
  3. Intermediate warehouse
  4. Port and sea
  5. Destination
Door to door
Yes
Insured value
Actual value, not per kilo
Exports
Covered

The carrier's liability is limited by law to an amount per kilo that usually falls well below the real value of the cargo. If the goods are yours, transit insurance is what covers the difference, by road, sea or air, and also during intermediate storage.

What is included

  • Your own goods by any means of transport
  • Door-to-door cover including storage
  • General average and salvage costs
  • Theft and disappearance of cargo
  • Single-transit or annual open policy
  • Import and export

How much would the carrier pay you?

In international road haulage, the CMR Convention limits the carrier's liability to 8.33 SDR (Special Drawing Rights) per kilo of gross weight.

Maximum the carrier will pay-
Uncovered value-

The value of the SDR changes daily. The legal limit is different for domestic transport; cargo insurance covers the actual value in both cases.

What it covers.

  1. Any mode

    By road, sea, air or rail, and any combination of them.

  2. Door to door

    From the warehouse of origin to destination, including intermediate storage.

  3. Theft and disappearance

    Total or partial theft of the cargo.

  4. General average

    Your contribution to the expenses and sacrifices made to save the vessel and cargo in sea transport.

  5. Open policy

    Every shipment in the year covered, with periodic declarations.

  6. Import and export

    According to the Incoterm agreed with your customer or supplier.

Three shipments, three risks.

Lorry with a white semi-trailer parked at a rest area at dusk

Road

Theft in transit

What happens
A lorry is hijacked at a rest area.
What the policy does
Cover for theft of the cargo, subject to the agreed security measures.
Wrapped pallets in a transit warehouse

Intermediate warehouse

Intermediate warehouse

What happens
The goods are waiting in a transit warehouse and are damaged.
What the policy does
Door-to-door cover including intermediate storage.
Container ship sailing in heavy seas

Sea freight

Sea export

What happens
A container suffers water damage during a storm.
What the policy does
The policy pays the value of the goods and any general average contribution.

Who bears the risk on each leg?

The Incoterm agreed with your customer or supplier sets the point in the journey at which risk passes from seller to buyer. Your policy must cover the legs for which you bear the risk.

FOB. Risk passes to the buyer when the goods are on board the vessel at the port of shipment.

Simplified reference to the Incoterms 2020 rules. What applies is what has been agreed in your sale contract.

Single-transit or open policy.

Single-trip policy

Taken out for a specific shipment, with its own route and value.

Open policy

Annual contract covering all shipments, declared periodically.

Single shipment or annual policy?

If you ship regularly, an annual open policy works out better and avoids oversights. We compare both against your actual volume.

Transport terms.

CMR
Convention governing international road haulage and limiting the carrier's liability.
Incoterm
Rule that sets who bears the risk for the goods on each leg of the journey.
Open policy
Annual contract covering all shipments, declared periodically.
General average
An extraordinary sacrifice or expense to save the vessel and cargo, shared among all parties with an interest.

Questions about cargo insurance.

Is the carrier not already liable?

The carrier is liable only up to a legal limit per kilo, which is usually far below the value of the goods. Without a policy, you bear the difference.

Is it covered while in the intermediate warehouse?

Door-to-door policies cover intermediate stays up to a maximum period. We review this against the way you operate.

Let us work out how much is left uncovered on each shipment.

An adviser will call you during office hours.

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