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Cargo insurance is insurance for cargo in transit. Cargo is insured during transportation by truck, rail or sea. The insurance coverage includes its destruction, damage, loss or theft. Even if the carrier has purchased an OCP policy, it is important to remember that the coverage provided by such a policy is not complete. During damage from an OCP policy in international transport, the value of the goods is calculated based on their weight, which, with lighter goods, can mean a large loss for the principal. Therefore, the best cargo protection will be special cargo insurance.
If the principal is concerned about financial loss due to damage, theft or loss of cargo, especially if the carrier is not at fault, then he should definitely buy additional protection in the form of a Cargo policy.
The insurance is concluded on the basis of cargo clauses: the Institute Cargo Clauses “A” 01/01/09, which means that, among other things, for land transport is full coverage (allrisk formula).
