Marine cargo insurance, from your invoice
Cover for goods moved by sea — containers, LCL, break-bulk and Ro-Ro — built on Institute Cargo Clauses (A), from the moment goods leave the warehouse until they reach the other one.
What it covers
The core product is ICC (A) — all risks of physical loss or damage, except the exclusions in the policy: fire, sinking, collision, theft, water damage, jettison, and general average contributions are all in scope. Cover runs warehouse to warehouse — from the seller's warehouse, over the whole sea transit, to the buyer's warehouse, as long as the goods stay in the normal course of transit.
What it doesn't
Delay, ordinary leakage and wear, inherent vice of the goods, insufficient packing, and wilful misconduct are the usual exclusions. War and strikes risks are added as separate clauses. Details: ICC (A), (B) and (C) explained.
Who it's for
- Importers and exporters moving FCL or LCL containers on trade lanes worldwide.
- Break-bulk and Ro-Ro cargo — vehicles, machinery, project cargo.
- Buyers purchasing CIF who want top-up cover beyond the seller's minimum ICC (C) policy — see Incoterms and insurance.
How it works
- Upload the commercial invoice or the ocean bill of lading (PDF or photo).
- Review the extracted details — goods, value, HS code, ports — and the price.
- Approve and pay the licensed party directly; the certificate is issued instantly.
How much to insure for
The convention is CIF + 10%: goods value, plus freight, plus 10% for expenses and margin. Work it out in the insured value calculator.
Why not rely on the carrier?
Because the carrier's liability is capped by weight — about 2 SDR per kilo under the Hague-Visby Rules, or 666.67 SDR per package, whichever is higher. On a lost container of electronics that is a small fraction of the invoice. The numbers: carrier liability limits.
Questions
Is marine cargo insurance mandatory?
Not by general law, but a bank financing the shipment through a letter of credit will require an insurance document, and some markets require imports to be covered locally. Under CIF terms the seller must provide minimum cover by contract.
Does it cover general average?
Yes — general average contributions and salvage charges are covered under ICC (A), (B) and (C), and the insurer provides the guarantee needed to release your cargo.
FCL or LCL — any difference?
Both are insurable the same way. LCL cargo shares a container with other shippers' goods; the policy follows your goods and your invoice.
When does cover start and end?
Warehouse to warehouse: from leaving the seller's warehouse to arrival at the buyer's warehouse, within the normal course of transit.