Marine cargo policy provides coverage for physical loss or damage to goods shipped by water or air.
Marine cargo insurance is the lifeblood of international trade. Internet efficiencies have made it easy for more companies to become involved in global trade. Shippers need to be confident they have the proper insurance protection for their merchandise.
Ocean cargo marine policy protects goods shipped by water or air from physical loss or damage. Depending on the terms of sale, this coverage:
- Begins at the warehouse at the point of shipment
- Extends to the warehouse at the point of destination
- Includes all intermediate transit by rail or truck
The cargo policy is tailored to the customers’ business requirements and usually includes:
- War risk
- Strikes and riot exposures
- Warehouse storage, domestic transit, exhibitions and more
Cargo policy is available on an open policy or on an individual shipment basis.
Appetite and Coverage Amounts
BetterBind can find very broad appetite for ocean cargo insurance. Everything from wearing apparel to bulk oil to furniture to soybeans and almost any product in between is of interest to us. We can issue policies on a gross sales or insured value basis. We also offer competitive rates, terms and conditions, including low minimum premiums. Our cargo capacity for vessel or warehouse limits is up to $30 million.
BetterBind can meet the cargo insurance needs of the following business types:
- Freight forwarders and logistics providers
- Multinational companies
- Business-to-business Internet sales
To Get a Quote
We require the following basic information to provide a competitive cargo quote and marine insurance:
- Type of merchandise
- Annual insured values and/or gross sales
- Origin and destination
- Conveyance type (including carrier name)
- Insuring terms
- Loss history