Transportation, cargo

Insurance of cargo and goods for the period of transportation

Insurance objects

• Any kind of freight transported by any kind of transport worldwide;
• transport and overhead charges related to transportation;
• expected profit from disposal of commodities at the destination.

Insurance risks

• Damage, full destruction or loss of cargo, in whole or in part, for practically any reason;
• expenses and contributions related to a general accident;
• all the necessary and appropriate expenses to rescue cargo, as well as loss reduction and estimate of its amount, if the loss is reimbursable under insurance conditions;
• damage, full destruction or loss of cargo, in whole or in part, as a result of fire, lightning, storms, whirlwinds and other natural disasters, shipwreck or plane crash, collision of vessels or other means of transport with each other, or their collision with immovable or floating objects, stranding of the vessel, collapse of bridges, explosion, damage of the vessel by ice, soaking with sea water, and also as a result of measures taken to rescue the cargo or extinguish fire
• loss of cargo as a result of disappearance of the means of transport;
• loss, damage or full destruction of cargo, in full or in part, as a result of accident during loading, stacking and unloading of cargo and vessel fueling;
• damage to cargo as a result of shipwreck, plane crash, collision of vessels or other means of transport with each other or with any immovable or floating object (including ice), stranding of the ship, fire or explosion on the hip, plane or other means of transport.

Additional information Insurance conditions:

• The period of insurance starts from the moment of cargo acceptance from the warehouse at the point of departure, continues throughout the whole period of transportation (including reloading, transshipment and intermediary storage in reloading and transshipment points) and terminates at the time of cargo delivery to the consignee’s warehouse or other terminal warehouse specified in the policy.
• The policy shall be effective while the cargo is at exhibitions and auctions.
• The agreement may be concluded for a one-time dispatch and for insurance of transportation performed on a long-term basis.
• The sums of insurance agreements are calculated both in rubles and in the foreign currency. Insurance indemnity for damaged, lost or destroyed cargo shall be paid in the currency in which the insurance premium was paid.
• The time for consideration and payment of claims does not exceed 30 days from the moment of receipt of all necessary documents.