Cargo insurance checklist — before your goods move

Ten points to settle before a shipment leaves. Print it, or keep it next to the booking form.

The checklist

1. Who carries the risk? Check your Incoterm — CIF and CIP make the seller insure; FOB, FCA and EXW leave it to you. Incoterms and insurance
2. Is the seller's cover enough? Under CIF it's only ICC (C) — minimum. If you're the buyer, consider a top-up. ICC clauses
3. Insured value worked out? Goods + freight + 10%. Calculator
4. Conditions chosen? ICC (A) for new packed goods; (B)/(C) for used or bulk. Differences
5. Warehouse-to-warehouse confirmed? Cover should start at the seller's warehouse, not at the port.
6. Documents ready? Commercial invoice, transport document, packing list, HS code. Documents
7. Goods description accurate? The certificate is checked against the invoice and transport document — mismatches bounce bank documents.
8. Special cargo declared? Dangerous goods, temperature-controlled and used goods need prior underwriting approval.
9. Bank requirement satisfied? Letters of credit typically need insurance of at least 110% of the contract price, with claims payable in a convertible currency.
10. General average understood? If the voyage needs saving, you may be asked for security before release — insurance provides it. General average

After the goods move

• Keep the certificate with the shipping file — buyers and banks will ask.
• If anything happens: notify the claims channel immediately, preserve the goods and packaging for survey, and keep every document.