Watch: Marine Cargo Insurance Explained

Video Transcript

“Is your international shipment automatically insured by the carrier or freight forwarder?

This 35-second guide explains the important difference between limited carrier or freight-forwarder liability and marine cargo insurance.

Carrier liability is not the same as cargo insurance.

Compensation can depend on the governing law, transport contract, cargo unit, cause of loss, liability limits and available defenses.

It may therefore be substantially lower than the shipment’s commercial value.

Marine cargo insurance can cover specified physical loss or damage to the insured value, subject to the policy’s terms, exclusions, deductible and documentation requirements.

Depending on the coverage, it may also respond to general-average contributions and help provide the security required before cargo is released.

The video also explains why Institute Cargo Clauses A generally offer broader protection than Clauses B or C—and why ‘all risks’ never means every possible risk.

Before shipping, verify the insured value, covered risks and exclusions, deductible, packing requirements, general-average coverage, your Incoterm and required claim documents.

Coverage depends on the selected policy and its applicable terms.

Review the policy documents before booking.”