Ask for advice from our underwriter,
Eduardo Aburto
eaburto@segurosorion.cl
Cargo Insurance
Cargo Insurance
Cargo Insurance is a bilateral contract through which the insurer assumes the risks of transporting any items or goods along the insured route, from the moment the carrier has received or is responsible for the goods covered under the insurance, to the actual delivery to the recipient, based on the geographic locations set forth in the respective insurance contract. This insurance only applies to international transportation (exports and/or imports).
Coverage
Coverage
- Air transportation
- International Ground transportation
- Maritime transportation
We require the following information, to make you a quote:
• Taxpayer ID number and business name of client
• Details of insured items
• Annual estimate of cargo to be transported in USD
• Type of packaging
• Details of insured items
• Annual estimate of cargo to be transported in USD
• Type of packaging
• Limit per maritime, air and ground shipment in USD
• Incident rate for the past three (3) years
• Incident rate for the past three (3) years
We require the following information, to make you a quote:
• Taxpayer ID number and business name of client
• Details of insured items
• Annual estimate of cargo to be transported in USD
• Type of packaging
• Limit per maritime, air and ground shipment in USD
• Incident rate for the past three (3) years
• Details of insured items
• Annual estimate of cargo to be transported in USD
• Type of packaging
• Limit per maritime, air and ground shipment in USD
• Incident rate for the past three (3) years
General Purpose Policies
• Maritime Cargo Transportation
Policy “A”.
All-Risk Policy. This policy provides coverage for any losses or physical damage to the cargo or goods defined as insured items, whatever the cause may be, except for those set forth in clauses 4, 5, 6 and 7 of the policy.
• Maritime Cargo Transportation
Policy “B”.
A named perils’ policy which covers more risk than those listed under Clause “C”.
Covered risks:
• Maritime Cargo Transportation Policy “C”.
A named perils’ policy which covers more risk than those listed under Clause “C”.
Covered risks:
Additional Coverage:
• War and strike coverage.
• Coverage for insured frozen
and/or refrigerated items.
• Maritime Cargo Transportation
Policy “A”.
All-Risk Policy. This policy provides coverage for any losses or physical damage to the cargo or goods defined as insured items, whatever the cause may be, except for those set forth in clauses 4, 5, 6 and 7 of the policy.
• Maritime Cargo Transportation
Policy “B”.
A named perils’ policy which covers more risk than those listed under Clause “C”.
Covered risks:
• Fire or explosion.
• Overturning/ capsizing/derailment.
• Collision.
• Forced landing.
• Gross average.
• Cargo jettison.
• Running aground, grounding, sinking or capsizing of the vessel.
• Earthquake or volcanic eruption.
• Entry of sea, lake or river water.
• Full loss of goods, falling overboard or detaching during loading or unloading.
• Overturning/ capsizing/derailment.
• Collision.
• Forced landing.
• Gross average.
• Cargo jettison.
• Running aground, grounding, sinking or capsizing of the vessel.
• Earthquake or volcanic eruption.
• Entry of sea, lake or river water.
• Full loss of goods, falling overboard or detaching during loading or unloading.
A named perils’ policy which covers more risk than those listed under Clause “C”.
Covered risks:
• Fire or explosion.
• Running aground, grounding, sinking or capsizing of the vessel.
• Overturn/ capsizing/derailment.
• Collision.
• Forced landing.
• Gross average.
• Cargo jettison.
• Running aground, grounding, sinking or capsizing of the vessel.
• Overturn/ capsizing/derailment.
• Collision.
• Forced landing.
• Gross average.
• Cargo jettison.
• War and strike coverage.
• Coverage for insured frozen
and/or refrigerated items.
General Purpose Policies
• Maritime Cargo Transportation Policy “A”.
All-Risk Policy. This policy provides coverage for any losses or physical damage to the cargo or goods defined as insured items, whatever the cause may be, except for those set forth in clauses 4, 5, 6 and 7 of the policy.
• Maritime Cargo Transportation Policy “B”.
A named perils’ policy which covers more risk than those listed under Clause “C”.
Covered risks:
• Maritime Cargo Transportation Policy “C”.
A named perils’ policy which covers more risk than those listed under Clause “C”.
Covered risks:
Additional Coverage:
• War and strike coverage.
• Coverage for insured. frozen and/or refrigerated items.
• Maritime Cargo Transportation Policy “A”.
All-Risk Policy. This policy provides coverage for any losses or physical damage to the cargo or goods defined as insured items, whatever the cause may be, except for those set forth in clauses 4, 5, 6 and 7 of the policy.
• Maritime Cargo Transportation Policy “B”.
A named perils’ policy which covers more risk than those listed under Clause “C”.
Covered risks:
• Fire or explosion.
• Overturning/capsizing/derailment.
• Collision.
• Forced landing.
• Gross average.
• Cargo jettison.
• Overturning/capsizing/derailment.
• Collision.
• Forced landing.
• Gross average.
• Cargo jettison.
• Running aground, grounding, sinking or capsizing of the vessel.
• Earthquake or volcanic eruption.
• Entry of sea, lake or river water.
• Full loss of goods, falling overboard or detaching during loading or unloading.
• Earthquake or volcanic eruption.
• Entry of sea, lake or river water.
• Full loss of goods, falling overboard or detaching during loading or unloading.
A named perils’ policy which covers more risk than those listed under Clause “C”.
Covered risks:
• Fire or explosion.
• Running aground, grounding, sinking or capsizing of the vessel.
• Overturn/capsizing/derailment.
• Running aground, grounding, sinking or capsizing of the vessel.
• Overturn/capsizing/derailment.
• Collision.
• Forced landing.
• Gross average.
• Cargo jettison.
• Forced landing.
• Gross average.
• Cargo jettison.
• War and strike coverage.
• Coverage for insured. frozen and/or refrigerated items.
Exclusions based on Clause “A” POL 120130700.
Why is transportation insurance necessary?
Protection against a potential loss means the possibility that the insured party experiences an event as foreseen within the policy conditions, or an uncertain and assessable future event.
What are the advantages of purchasing transport insurance?
Transportation insurance is a bilateral contract which seeks to safeguard the insurable interests of all the parties related to the transportation risk.
By definition, transportation insurance is a contract between two parties, whereby an insurance company assumes the transportation risks in exchange for a premium. Thus, goods can be protected throughout the entire process of river, railway, air, ground or maritime transit.
Transportation insurance is important because it allows the transfer, at a reasonable cost, of the risks resulting from the development of the logistics chain; thus, it’s a vital support for international and international trade.
Some of the most significant activities within the transportation process, and which pose various risks, are loading, unloading, packaging, and storage, among others.
The players that play a role, from the beginning to the end of the transportation process are, among others, owners, the senders or recipients of goods (generators), transportation companies (maritime, ground, river, airway, air), multimodal operators, freight forwarders, logistics operators and port operators.
Any of the players that are involved in the supply chain can purchase a transportation policy to transfer their risk.
Generally, the offered products are classified based on the type of coverage. Therefore, policies can be divided into two major groups: floating policies and specific policies.
