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Goods Insurance

AMCOR Logistic transport company provides goods-in-transit insurance services. Various situations may arise during transportation: accidents, damage to goods, theft, etc. In order to prevent losses, it is best to provide insurance for the items to be transported.

Goods-In-Transit Insurance

Goods-in-transit insurance covers all risks of physical loss or damage to cargo for any external reason during transportation, whether by land, sea or air. However, it should be noted that no compulsory insurance of goods in Russia is required by law. Goods are insured on a voluntary basis. Voluntary insurance allows saving money in the event of unforeseen circumstances associated with damage to the goods. Both the entire volume of the goods and part of it may be insured.

There are two types of goods insurance by the carrier. The first type is based on the risk inclusion principle, in which case the insurer compensates losses from risks included in the contract. The other type is based on the risk exclusion principle, where the contractor is responsible for all the risks except those specified in the contract.

The following insurance risks are identified in the insurance of vehicles and goods: road accident; damage to goods; natural disasters; theft; vehicle disappearance; soaking; loss of goods during transshipment.

Cargo Insurance

CARGO insurance is one of the subtypes of transport insurance. It implies the protection of cargo along the entire route of movement starting from shipment from the sender’s warehouse and ending with shipment at the point of arrival, including the necessary intermediate warehousing of the cargo.

AMCOR Logistic offers cargo insurance regardless of the mode of transportation

  1. Air cargo insurance. Transportation of goods by air is the youngest and most promising of all the modes of transportation. Small-sized cargoes are normally transported here. Specialized charter flights are used for the transportation of large-sized items. The insurance risk is usually low here since this type of transport is considered to be the safest one. The risk of damage or loss of cargo is minimal, but the risk of theft at intermediate terminals is high.
  2. Sea cargo insurance. This type of transportation is associated with many risks. This can be damage to cargo during its loading/unloading or transportation, as well as unfavorable weather conditions. Despite the high level of risk, cargo shipment by water is sometimes the only possible delivery method. Sea transportation allows the use of full and partial insurance of the property to be transported.
  3. Rail freight insurance. Railway transportation is associated with great risks: the freight can be damaged if the car goes off the rails or due to displacement during maneuvering, deteriorate due to loss of sealing, etc.
  4. Road freight insurance. This type of transportation is considered to be of the highest risk. This is due to a great number of road accidents and illegal actions by third parties. Insurance of road freights will effectively protect all the goods to be transported from various risks, including protection from serious financial problems.

Goods Insurance Terms and Conditions

The terms and conditions of goods insurance are used to regulate the relations arising between the insured party and the insurer.

The rules of cargo insurance include several types of insurers’ own liability. An insurance contract is concluded when choosing one of the conditions. Insurance conditions may include:

  • “all risks liability”
  • “particular average liability”
  • “no liability for damage, except in cases of wreckage”
  • “storage risks liability”

The cost of goods insurance depends on the weight and size characteristics of the goods and the complexity of the transportation route. For information, please contact our experts. We look forward to working with you!

Services offered

AMCOR Logistics UAB

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Group 1 1 768x353 - Goods Insurance
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