Obtaining Ocean Cargo Insurance is a pretty straightforward process. The premium is calculated by your own estimations, it is what is known as stated or declared value. The higher the value you declare your cargo, the higher the premium and the higher the deducible.
The deductible is 1% of the total insured value. This is standard and not adjustable.
The total insured value is a calculation of your value of goods, the fright cost and the rate assigned for that class of cargo.
To make sure you are purchasing the right amount of insurance, follow these steps:
Types of Ocean Cargo Insurance
The three most popular risks in Ocean Cargo Insurance that we write are:
- Containerized goods
- Vehicle or vessel
- All Risk
There are certain items that we have to seek further underwriting approval on on before we can issue a certificate of insurance. We will notify you if we have any questions
Stay in the know!
We share insightful insurance news and resources with you. We never share or sell your personal information.
More Insurance News & Articles
Planning Strategy: Using Life Insurance To Pay Off Debt
Life comes with its fair share of expenses—whether it’s a mortgage on your home, a car loan, or even credit card bills. These debts are usually manageable when you’re around to help pay them off.
Coverage for funeral costs, burial expenses, and other end-of-life costs
While it’s not something most of us like to think about, planning for final expenses is a way to protect your family from financial stress during an already emotional time.
Tax Benefits: The tax advantages of life insurance
When you're shopping for life insurance, you’re likely thinking about [...]
How life insurance provides financial protection for your loved ones
When we talk about life insurance, we're really talking about [...]