Cargo insurance

The main purpose of insurance is to reduce the financial consequences if an insured event occurs with the goods during delivery. Depending on the chosen program, protection may extend to damage, complete or partial loss of cargo, theft, vehicle accident, fire, exposure to natural factors and other risks.

Insurance is especially important when transporting expensive equipment, electronics, industrial products, goods in large quantities, fragile items and other cargo, the loss or damage of which can lead to significant losses.

The policy can be valid not only on the main part of the route. If necessary, transshipment, intermediate storage, change of vehicles and other stages of the logistics chain are taken into account.

You can obtain insurance for transportation by road, rail, sea and air. If delivery is carried out using a multimodal scheme, protection may extend to the entire route, including sections where the mode of transport changes.

This approach allows you to avoid a situation where a certain part of the route remains without insurance coverage. The conditions are agreed upon in advance, taking into account the entire logistics scheme.

There is no universal insurance option for all cargo. For each shipment, it is necessary to assess possible risks and determine the optimal amount of coverage.

The calculation takes into account:

• name and characteristics of the cargo;
• declared value of the goods;
• country of departure and destination;
• method of transportation;
• route features;
• type and reliability of packaging;
• the need for reloading and storage;
• the nature of possible risks;
• amount of insurance amount and deductible.

To arrange insurance, the client provides information about the cargo and future transportation. Specialists analyze the route, product characteristics and transportation conditions, after which they help select a program and prepare the necessary data for registration.

After agreeing on the terms, an insurance policy is issued. It records the object of insurance, the sum insured, the validity period, the list of covered risks and other essential conditions.

For one-time transportation, you can issue a separate policy. Companies that ship cargo regularly may find it more convenient to use a continuous delivery solution.

If during transportation the cargo was damaged, lost, or another situation occurred under the terms of insurance, it is important to correctly record the circumstances of the incident.

Typically, you will need to retain shipping documents, file a damage or shortage report, take photographs, and promptly notify those involved in the shipment and the insurance company.

Kardinal Group of Companies helps the client figure out what documents need to be prepared and what actions to take to further resolve the insured event.

When insurance is organized simultaneously with transportation, it is possible to take into account the specifics of the route and the real risks of a particular delivery in advance. This is especially important for international logistics, complex routes and transportation with multiple transhipments.

Kardinal Group of Companies can include cargo insurance in the overall range of logistics services. The client receives a single solution in which transportation, delivery support and cargo protection are coordinated.

To calculate the terms of insurance, it is enough to provide information about the product, its cost, route and method of transportation. Specialists will offer coverage options taking into account the characteristics of a specific transportation.