Marine Cargo Insurance: what to consider
Marine cargo insurance is for the insured interest in goods, rather than the ship carrying them. Importers, exporters and traders should identify when they bear the risk of loss under the sale contract, which transport legs are involved and the value that would need to be recovered after an insured transit casualty.
Follow the whole transport chain
A sea shipment may also involve road collection, consolidation, transshipment and inland delivery. Specify the origin, final destination and any planned storage. Warehouse-to-warehouse wording has defined attachment and termination provisions; it does not mean unlimited storage or an unlimited duration.
Make valuation and packaging explicit
Commercial invoices, freight charges and the agreed valuation basis determine the insured amount. Packaging must suit the goods and the journey. Temperature sensitivity, theft attraction, breakability and moisture exposure should be described before a quote is prepared.
Cover to discuss for Marine Cargo
- Physical loss or damage during the transit described in the policy.
- Loading, handling and onward transport exposures where included.
- General average or salvage contributions where insured under the wording.
Limits, exclusions and related cover
An “all risks” description does not remove exclusions. Delay, inherent vice, inadequate packing, ordinary leakage and war or strikes may be excluded or need separate treatment. Carrier liability may be limited and is not a substitute for checking the cargo policy.
Prepare your Marine Cargo enquiry
- Cargo description, packing, invoice value and valuation basis.
- Incoterms / sale terms, ports, inland legs and transport mode.
- Shipment dates, storage requirements and previous cargo losses.
Start your Marine Cargo application and save the information securely. For an existing incident, use the Claims Centre and follow the reporting requirements in your policy.
Marine Cargo pricing and quotation
Instant indicative estimate: 0.3% of cargo value for the selected coverage period. No prior approval is needed to use the calculator or start an application. Final cover and premium are confirmed through underwriting.
Indicative premium estimate only. Final premium and coverage are subject to underwriting approval, vessel specifications, route, claims history, policy limits, deductibles, capacity availability and final policy terms.
Calculate Marine Cargo PremiumRelated insurance for this exposure
- Voyage Insurance — Present a defined voyage, cargo and period for specialist consideration.
- Annual Marine Programme — Plan recurring shipping and marine exposures over an agreed annual period.
- Oil & Gas Cargo — Specialist consideration for crude oil, refined products and energy cargoes.
Further reading: Marine Cargo Insurance: Coverage, Cost and Application Guide
Industry reading
These independent resources explain industry concepts; they do not establish a partnership or the terms of a MarineEnergyCover quotation.
Page updated . Specific cover is determined by the agreed policy wording and binding confirmation.