- What types of cargo, commodities and freight do you insure?
- Is there any type of cargo or freight that you will not insure?
- Are there origination or destination points you will not insure?
- How much insurance should I purchase for my cargo?
- Can we purchase cargo insurance to supplement the insurance provided by the transporter?
- Will increasing my cargo insurance deductible decrease the premium?
- What if I need to make last minute changes to my cargo insurance coverage?
- How long does my cargo insurance policy remain in effect?
- Does cargo insurance coverage include placement at the consignee's location?
- Do you cover electrical derangement and mechanical failures on insured freight if there is no sign of external damage?
- Where can I review the terms and conditions of my cargo insurance policy?
- How much time do I have to file a cargo insurance claim?
What types of cargo, commodities and freight do you insure?
We offer freight, commodities, logistics and cargo insurance for local, domestic U.S. and international shipments that are transported by air, ocean, rail or land.
Is there any type of cargo or freight that you will not insure?
Virtually all legal commodities can be insured from anywhere to anywhere, however, the insurance underwriter reserves the right of refusal to insure in the event the cargo is improperly packaged, packed, transported or pertinent shipping documents are insufficient. The underwriter will not insure negotiable items, and may have limitations on certain commodities.
Are there origination or destination points you will not insure?
Most cargo can be insured from any point to any point, however, any country that is embargoed or restricted as dictated by the United States Government cannot or may not have availability of coverage. Our insurance carriers occasionally may also have restrictions. Once we receive your cargo insurance quote request, we will confirm our ability to insure your specific origination and destination points.
How much insurance should I purchase for my cargo?
We recommend that you insure cargo at a minimum of the "commercial invoice value" or "Cost of goods and Freight," the CIF value. Most manufacturers and shippers insure cargo for CIF VALUE plus 10%. On international shipments the terms of the Irrevocable Letter of Credit (LOC) may dictate insured value. It is a good idea to insure international cargo at CIF plus 10 and the cost of freight.
Can we purchase cargo insurance to supplement the insurance provided by the transporter?
Yes. You can purchase additional cargo insurance based upon the commercial invoice value. Internationally, rates will vary based upon country of destination and area of the world. In the event of claim, the transportation bill of lading liability will be claimed upon first up to its coverage limitations.
Will increasing my cargo insurance deductible decrease the premium?
Yes. As the deductible amount is increases, the rate for cargo insurance decreases. LogisticsInsurance.com offers a wide range of deductibles for your convenience.
What if I need to make last minute changes to my cargo insurance coverage?
Simply notify us in writing of any needed changes using the “contact us” form on our website. A representative will contact you during business hours to confirm the requested changes and send you an updated policy. You can also contact us between 8 and 5 Eastern Standard Time at (888) 893-8835 ext. 501 and international customers may dial: +1-973-509-9817.
How long does my cargo insurance policy remain in effect?
All cargo insurance policies remain in effect from point of origin to point of destination under the terms of conditions of the commercial invoice or irrevocable letter of credit. These terms are usually stated as: warehouse to warehouse, factory to factory, door to door, warehouse to port, port to port or door to door with inside placement.
Does cargo insurance coverage include placement at the consignee's location?
If the terms and conditions of the commercial invoice or irrevocable letter of credit dictate inside placement at destination, coverage will terminate upon signing of the delivery documents by the consignee.
Mechanical Malfunctioning and Electrical Derangement coverage may be purchased at an additional premium. Otherwise, coverage is excluded except for external damage to the shipment.
Where can I review the terms and conditions of my cargo insurance policy?
Terms will be customized for your cargo insurance policy. See the sample policy for an example of what to expect.
How much time do I have to file a cargo insurance claim?
See your Logistics Insurance cargo insurance policy for claims filing instructions. Please note that there are important timelines. For example, some insurers require that the claim be filed within 45 days of cargo delivery.
