Typically, insurance is taken out before the start of transportation, but in some cases it is possible to take out insurance after the start of transportation (from the moment the policy is issued). This depends on the conditions of the insurance company and the type of transportation. We advise on the possibility of obtaining insurance after the start of transportation.
Cargo and supply insurance - financial protection for your business
Full insurance coverage for international shipments. Protection against loss, damage, delay. Fast settlement of losses. We work with leading insurance companies.
- Comprehensive Coverage - Protection against loss, damage, theft and delivery delays
- Fast settlement - prompt consideration of applications and payment of compensation
- Expert advice - help in choosing the optimal coverage for your needs
- Reliable partners - we work only with leading insurance companies
Financial protection
Cargo insurance
Fast settlement
Registration process
Risk assessment
Analysis of cargo, route and method of transportation
Choice of coverage
Selection of the optimal type of insurance
3
Cost calculation
Calculation of insurance premium based on risks
4
Registration of a policy
Conclusion of an insurance contract
5
Transportation monitoring
Track cargo status and coverage
6
Settlement of losses
Fast consideration and payment of compensation
Types of coverage
From all risks
From a private accident
From complete death
Delivery delay
Protection
Full Coverage
Speed
Fast settlement
Expertise
Individual approach
What is cargo insurance
Cargo insurance is financial coverage of risks during the transportation of goods, protecting against loss, damage, theft and delivery delays. Let's figure out how it works and why it is important to choose the right insurance coverage
What is it
Cargo insurance is financial coverage of risks during the transportation of goods, protecting against loss, damage, theft, delivery delays and other unforeseen situations. Insurance can cover the entire journey from shipment to receipt of goods and works for both sea, air, road and rail transport. An insurance policy guarantees financial compensation in the event of an insured event, protecting investment in goods and providing peace of mind during transportation.
Financial protection - full coverage of losses in the event of an insured event, protection of investments in goods
Risk protection - coverage against loss, damage, theft, natural disasters, delivery delays
All types of transport - works for sea, air, road and rail transport
Full path - coverage can extend throughout the entire path from shipment to receipt of goods
Fast settlement - prompt consideration of applications and payment of compensation upon the occurrence of an insured event
Why is this necessary?
1
Financial protection – loss or damage to cargo can result in significant financial losses. Insurance guarantees compensation for losses.
2
Protection from unforeseen situations - accidents, natural disasters, theft can happen at any time. Insurance protects against these risks.
3
Compensation for losses - in case of damage or loss of cargo, the insurance company pays compensation in the amount of the insured amount.
4
Delay Protection – Delayed delivery can result in financial loss. Insurance covers lost profits and additional expenses.
5
Mandatory requirement - For some types of cargo and routes, insurance is a mandatory requirement.
6
Peace of mind and confidence - insurance provides peace of mind and confidence in protecting your investment in goods during transport.
How the procedure works
1
Risk assessment - we analyze the type of cargo, route, method of transportation, cost. We identify all possible transportation risks.
2
Choice of coverage - we select the optimal type of insurance and amount of coverage to suit your needs. We explain the features of each type.
3
Cost calculation - we calculate the insurance premium based on the risks and the selected coverage. We show a transparent calculation.
4
Registration of a policy - we conclude an insurance agreement with a leading insurance company and issue a policy. We help with documents.
5
Transportation monitoring - we track the status of the cargo and insurance coverage at all stages. We inform you about the status.
6
Loss settlement - when an insured event occurs, we quickly process the claim and pay compensation. We control the process.
7
Consultations - we advise on all insurance issues at all stages, help with documents, explain the terms of the policy.
Key Concepts
Important terms to know when dealing with cargo insurance. Understanding these concepts will help you choose the optimal coverage.
Sum insured is the maximum amount of compensation upon the occurrence of an insured event. Usually equal to or greater than the value of the cargo.
Insurance premium is the cost of an insurance policy, calculated based on risks, amount of coverage and type of insurance.
Franchise is part of the loss that the client pays independently. It can be conditional (not subtracted) or unconditional (always subtracted).
An insured event is an event upon the occurrence of which compensation is paid (loss, damage, theft, delay in delivery).
Claims settlement is the process of reviewing a claim for payment and paying compensation. Usually takes from several days to several weeks.
Type of coverage - type of insurance coverage (all risks, private accident, total loss, etc.). The choice depends on the type of cargo and risks.
Problems and solutions
We understand the risks of international transportation and provide financial protection for your business.
Typical problems
- Financial risks - loss or damage to cargo can lead to significant financial losses. Without insurance, the client bears all losses independently.
- The difficulty of choosing - not everyone understands what type of insurance is needed, what coverage to choose, what risks are covered. Need expert advice.
- Expensive – Insurance may seem expensive, but not having insurance costs more when an insured event occurs. We need to find a balance.
- Slow settlement – Some insurance companies take a long time to process claims, which delays compensation and creates liquidity problems.
- Incomplete Coverage - Standard policies may not cover all risks for a particular shipment. An individual approach to the choice of coverage is required.
- Ignorance of requirements - Not everyone knows when insurance is required and when it is recommended. Need advice on requirements.
- Complexity – The process of applying for insurance can seem complicated and confusing. Need help with documents and advice.
OZTA Solutions
- Financial protection - full coverage of losses in the event of an insured event, protection of investments in goods. We work with reliable insurance companies.
- Expert consultation - we help you choose the optimal type of insurance and amount of coverage, we explain the nuances of each type. We select according to your needs.
- Optimal cost - we select insurance products with the optimal price-to-coverage ratio. We show a transparent cost calculation.
- Fast settlement - we work with leading insurance companies, ensuring fast processing of applications and payment of compensation. We control the process.
- Individual coverage - we select insurance coverage to suit the specifics of your cargo and route. We take into account all transportation risks.
- Client education - we explain the requirements, when insurance is mandatory, when it is recommended. We advise on all issues.
- Simple registration - we simplify the registration process, help with documents, advise at all stages. We provide transparency.
Use cases
Cargo insurance is used for various types of cargo and transportation scenarios.
Expensive goods
Insurance of electronics, machinery, equipment. Full coverage against loss and damage, protection against theft.
Coverage amount: based on the cost of the goods. Features: full coverage against loss and damage, protection against theft.
Fragile cargo
Insurance of glass, ceramics, furniture, works of art. Coverage for damage in transit.
Coverage amount: from the cost of the product + packaging. Features: coverage for damage during transportation, special conditions for fragile goods.
Perishable goods
Insurance of food, flowers, medicines. Covering spoilage due to temperature violations.
Coverage amount: based on the cost of the goods. Features: coverage of spoilage due to temperature violations, delivery delays.
Dangerous goods
Insurance of chemicals, explosive materials, radioactive substances. Compulsory insurance for some categories.
Coverage amount: from the cost of the goods + liability. Features: compulsory insurance for some categories, third party liability coverage.
Oversized cargo
Insurance of equipment, machinery, oversized structures. Coverage for damage during loading/unloading.
Coverage amount: from the cost of the goods + transportation. Features: coverage for damage during loading/unloading, special conditions for oversized items.
Regular deliveries
Insurance for companies with regular transportation. Annual policies, volume discounts, simplified registration.
Coverage amount: depending on the volume of transportation. Features: annual policies, volume discounts, simplified registration.
How we work
A transparent and understandable process for obtaining cargo insurance with guarantees of financial protection. We control each stage and coordinate with you
1
Consultation and risk assessment
We analyze your cargo, route, transportation method, and determine the risks. We evaluate all possible transportation risks: loss, damage, theft, delivery delays, natural disasters. We provide advice on choosing the optimal insurance coverage.
2
Selecting coverage and calculating cost
We select the optimal type of insurance and amount of coverage to suit your needs. We explain the features of each type of coverage: against all risks, against private accidents, and against total loss. We calculate the insurance premium based on the risks and the selected coverage. We show a transparent cost calculation.
3
Registration of a policy
We conclude an insurance agreement with a leading insurance company and issue a policy. We help with documents: insurance application, cargo documents, transport documents. We explain all the terms of the policy, exclusions, and deductibles. We provide transparency.
4
Transportation monitoring
We monitor the status of cargo and insurance coverage at all stages of transportation. We inform you about the status of the cargo and insurance coverage. If necessary, we provide advice on insurance issues during transportation.
5
Settlement of losses
When an insured event occurs, we quickly process the application and pay compensation. We help with documents for settlement of losses, control the process of consideration of the application. We provide quick settlement and payment of compensation.
All procedures are carried out in strict accordance with the requirements of insurance legislation and the terms of the insurance contract
Types of Insurance Coverage
Different types of insurance coverage for different needs and risks. We will select the best option for your cargo and route
From all risks (All Risks)
Full coverage against all risks, except exceptions. Maximum protection for your cargo.
Покрывает:
- •Loss of cargo (total and partial)
- •Damage to cargo during transportation
- •Cargo theft
- •Natural disasters (fire, flood, earthquake)
- •Accidents and incidents during transportation
Исключения:
- ×Deliberate actions of the shipper
- ×Warfare and terrorism
- ×Radioactive contamination
- ×Natural loss and hidden defects
Recommended for high-value and fragile cargo when maximum protection is needed
From a private accident (With Average)
Coverage against major risks with partial liability. Optimal balance of protection and cost.
Покрывает:
- •Total loss of cargo
- •Partial damage in an accident
- •Theft during transportation
- •Fire and explosion
Исключения:
- ×Natural decline
- ×Hidden defects
- ×Careless packaging
- ×Hostilities
Recommended for standard cargo and regular transport
From total loss (Total Loss Only)
Coverage only for total loss of cargo. An economical option for low-cost cargo.
Покрывает:
- •Total loss of cargo
- •Total loss of cargo
Исключения:
- ×Partial damage
- ×Delivery delay
- ×Natural decline
Recommended for low-cost cargo and bulk transport
Carrier Liability
Insurance of the carrier's liability to the shipper. Mandatory for some types of transport.
Покрывает:
- •Damage caused by the carrier
- •Liability for loss and damage
- •Liability for late delivery
Исключения:
- ×Deliberate actions of the carrier
- ×Hostilities
- ×Natural disasters (unless otherwise noted)
Recommended for logistics companies and carriers
Delay in Delivery
Covering financial losses due to delivery delays. Additional coverage to the main policy.
Покрывает:
- •Lost profit due to delay
- •Additional costs due to delay
- •Loss of market
Исключения:
- ×Delay due to the shipper's fault
- ×Hostilities
- ×Strikes (unless otherwise stated)
Recommended for urgent deliveries and perishable goods
Requirements and documents
What you need to know and what documents to prepare to apply for cargo insurance
Cargo information
Detailed information about the cargo: name, cost, quantity, weight, volume, packaging. Documents confirming the value of the cargo.
- Name, quantity, weight, volume of cargo
- Cost of cargo (invoice, contract, price list)
- Description of packaging and labeling
- Photos of the cargo (if necessary)
Route and transport
Information about the transportation route: from where, where, method of transportation, timing. Transport documents.
- Origins and destinations
- Transportation method (sea, air, road, rail)
- Transportation times
- Transport documents (bill of lading, waybill, air waybill)
Cargo documents
Documents for cargo: invoice, contract, specification. Documents confirming the value of the cargo and compliance with the requirements.
- Invoice, contract, product specification
- Documents confirming the value of the cargo
- Certificates of conformity (if required)
- Additional documents upon request of the insurance company
Carrier information
Information about the carrier: name, details, transportation experience. Documents confirming the reliability of the carrier.
- Carrier name and details
- Transportation experience and reputation
- Documents confirming the reliability of the carrier
- Additional information upon request of the insurance company
Guarantees and risks
We provide financial protection and quick settlement of losses in cargo insurance.
Our guarantees
Financial protection
Full coverage of losses upon the occurrence of an insured event. Protection of investments in goods and financial interests of the client.
Fast settlement
Prompt consideration of applications and payment of compensation. We work with reliable insurance companies and control the process.
Expert consultation
Assistance in choosing the optimal coverage and completing documents. We advise on all insurance issues at all stages.
Reliable partners
We work only with leading insurance companies with a high reputation. We guarantee reliability and financial stability.
Individual approach
We select insurance coverage based on the specifics of your cargo and route. We take into account all transportation risks and client needs.
Transparency
We explain all the terms of the policy, exclusions, and deductibles. We show a transparent cost calculation. We provide complete transparency.
Risks and how we minimize them
Risk of incomplete coverage
We analyze all transportation risks and select the optimal coverage. We take into account the specifics of the cargo and route for complete protection.
Risk of slow resolution
We work with reliable insurance companies and control the process of reviewing applications. We provide fast settlement and payment.
Risk of refusal to pay
We fill out the documents correctly, explain the terms of the policy, and help with applications. We ensure compliance with all requirements for payment.
Risk of overpricing
We select insurance products with the optimal price-coverage ratio. We show a transparent calculation of costs and alternatives.
Risk of not knowing the requirements
We advise on all issues, explain obligations and recommendations. We help you understand the requirements and choose the optimal coverage.
Risk of registration complexity
We simplify the process, help with documents, and advise at all stages. We ensure transparency and simplicity of design.
Why do they trust us?
Our expertise and experience in working with cargo insurance ensure reliability and professionalism.
Partnerships with leading insurance companies
We work only with leading insurance companies with high reputation and financial stability. We guarantee the reliability of the coating.
Experience
Many years of experience with cargo insurance, knowledge of all types of coverage, risks and requirements. A large number of issued policies.
Settlement speed
Fast processing of applications and payment of compensation. The average time for settling losses is from several days to several weeks.
Expertise
Knowledge of types of insurance, risks, requirements. Assistance in choosing the optimal coverage for the specifics of the cargo and route.
Guarantees
Responsibility for correct registration and consultation at all stages. We guarantee financial protection and quick settlement.
Learn more about our compliance policy: AML/KYC policy · Sanctions policy
Frequently Asked Questions
Answers to popular questions about cargo insurance.
Cargo insurance is financial coverage of risks during the transportation of goods, protecting against loss, damage, theft, delivery delays and other unforeseen situations. It is necessary to protect financial interests when transporting goods, especially during international transport, where the risks are higher. Insurance guarantees compensation for losses in the event of an insured event, protecting investments in goods.
Cargo insurance is not always mandatory, but for some types of cargo and routes it may be a requirement. Insurance requirements vary by country of origin and destination - we take into account the laws of your jurisdiction. Even if insurance is not required, it is highly recommended to protect your financial interests. We advise on requirements and help you choose the optimal coverage. We work with transportation to different countries - we will select the conditions for your route.
There are several types of insurance coverage: All Risks - full coverage against all risks, With Average - coverage against major risks, Total Loss Only - coverage only for total loss, Carrier Liability - carrier liability insurance, Delay - coverage for financial losses due to delay. We help you choose the optimal type for your needs.
Cargo insurance covers loss, damage, theft of cargo, natural disasters, accidents during transportation, and delivery delays (depending on the type of coverage). The specific coverage depends on the type of insurance chosen and the terms of the policy. We explain all policy terms, exclusions and deductibles before you sign up.
The cost of cargo insurance depends on the type of cargo, route, method of transportation, amount of coverage and the type of insurance chosen. Typically, the insurance premium ranges from 0.1% to 2% of the value of the cargo. We calculate the cost individually for each case and show a transparent calculation.
The cost of insurance is calculated based on the risks of transportation (type of cargo, route, method of transportation), the amount of coverage and the selected type of insurance. The higher the risks and the amount of coverage, the higher the cost. We analyze all factors and calculate the optimal cost taking into account your needs.
The deductible is the part of the loss that the client pays independently. It can be conditional (not deducted in case of total loss) or unconditional (always deducted). The higher the deductible, the lower the cost of insurance, but the more the client pays when an insured event occurs. We explain the impact of the franchise on the cost and help you choose the best option.
When an insured event occurs, you must submit an application for payment with documents confirming the loss (damage report, cost documents, transport documents). The insurance company reviews the application, conducts an examination (if required) and pays compensation. We help with documents and monitor the settlement process.
The period for payment of compensation depends on the complexity of the case and the speed of consideration of the application. The process usually takes from several days to several weeks. In simple cases (total loss), payment may be faster; in complex cases (partial damage), an examination is required and may take longer. We control the process and ensure a quick settlement.
To obtain insurance you need: information about the cargo (name, cost, quantity, weight, volume), transportation route (from where, where, method of transportation, timing), documents for the cargo (invoice, contract, specification), transport documents, information about the carrier. We help prepare all the necessary documents and advise at all stages.
When an insured event occurs, you must: immediately notify the insurance company, collect documents (damage report, cost documents, transport documents), submit an application for payment, wait for consideration and payment of compensation. We help with documents, advise on the procedure and monitor the settlement process.