What is covered by cargo insurance?
Cargo insurance protects you from financial loss due to damaged or lost cargo. It pays you the amount you’re insured for if a covered event happens to your freight. And these covered events are usually natural disasters, vehicle accidents, cargo abandonment, customs rejection, acts of war, and piracy.
What are the 3 significant types of insurance that are involved in marine insurance?
- Freight Insurance.
- Liability Insurance.
- Hull Insurance.
- Marine Cargo Insurance.
What does all risk cargo cover?
In the event of an unexpected incident, All-Risk Cargo Insurance covers loss from any external cause (depending on the individual policy), including physical loss or damage.