Cargo insurance in Europe, cover the value, not the carrier's minimum

Wat is cargo insurance?

Cargo insurance, also called goods-in-transit insurance, is cover that protects the value of goods against physical loss or damage while they are being transported, up to an agreed sum insured. It exists because a carrier's standard liability is not the same as insurance: under the international conventions that govern sea, air and road freight, a carrier's default liability is capped by the weight of the goods, not their value, and often pays only a small fraction of what a lost or damaged consignment is actually worth. For an ecommerce brand, the exposure is real: a full container or a truckload of stock can represent a large share of working capital, and relying on carrier liability alone can turn a single incident into an uninsured write-off. Proper cargo insurance is written to the declared value of the goods and to the specific perils of the journey, so a claim pays what the inventory is worth. The same principle extends to stored stock: once goods reach a fulfilment centre they can be insured against warehouse perils, closing the gap where inventory would otherwise sit uncovered between movements. Cover should be arranged so it aligns with the Incoterm on a shipment, because the term fixes the exact point at which risk passes between seller and buyer, and a mismatch is how a loss ends up falling on the party who assumed someone else was insured. The essentials to check are the sum insured, the perils covered, the excess, and whether transit and storage are both included or leave an uncovered handover in between.

Ook wel genoemd: goods-in-transit insurance, freight insurance, marine cargo insurance