Increase in claims
Cargo claims have rocketed in the last 5 years, mainly due to an increase in marine traffic and global trade, supply chain events and extreme weather conditions.

Lack of coverage
Today, around 70% of all cargo in transit is either under or uninsured.

Significant unexpected losses
The Evergiven Suez canal incident in 2021 caused more than $2bn in losses alone, most of which were uninsured (General Average was posted, affecting everyone with cargo on board).

Assumption versus reality
Freight Forwarders’ liability is extremely limited and is highly unlikely to cover the value of your goods or recover the freight charges.

General Average is the silent cargo enemy that is often missed by cargo owners
General Average is declared when a sacrifice is taken to save a vessel from loss (e.g. when the captain makes the decision to lose some containers in order to save the vessel). General Average requires customers whose cargo survived the voyage to compensate others whose cargo was damaged to protect the vessel. Without cargo insurance you may be liable for a substantial out-of-pocket cash amount that would be required to cover the general average costs.

Through our insurance partners, JAG UFS are able to provide you with “All Risk” cargo coverage for each of your shipments (sea/air/land), including General Average. Such coverage covers all risks, excluding some risks (as highlighted in the exclusions list). We provide market-leading pricing, based on the commodity type and cargo value.

Ensure you have minimal coverage in place to further protect your cargo, with more comprehensive cover. Through our innovative technology, we can provide market-leading insurance rates.

Contact us today to book your cargo insurance, email [email protected] or call 0208 844 2388

Cargo Coverage FAQ

What does the cargo cover include?
Door-to-door “All Risks” cover for goods, whilst in transit by land, air or sea. Regardless of who is responsible for the damage.

Are there any exclusions to the cover?
Yes. Such exclusions include wilful misconduct, delays, ordinary wear and tear and unsuitable packaging. Further information can be found within the policy documentation.

Is there an excess/deductible?
No, there is no excess/deductible in our policies.

What is “General Average”
The silent cargo enemy that is often missed by cargo owners. General Average is declared when an extraordinary sacrifice is taken to save a vessel from complete loss. General Average requires customers, who’s cargo survives the voyage, to compensate others whose cargo was abandoned or damaged to protect the vessel. Without cargo insurance you will be liable for General Average contributions.

What does “All Risk” mean?
Cover is provided for all risks of physical loss and damage to the goods during the insured voyage (e.g. theft, damage, non-delivery and General Average). The policy covers the full value of the goods insured (including shipping costs).

Do we pay a fee to you?
We take a small admin fee for setting this up, but this is already included in your final insurance premium.

What is the cost of the cover?
The price depends on cargo value and commodity type. We offer very competitive pricing, using market-leading rates based on multiple years of historical data

I have an annual policy for my cargo, is this coverage still something I should look into?
Yes. Since we know the exact details for the shipment, we can offer tailored pricing and coverage that relates specifically to your shipment characteristics. In some cases, annual policies have coverage gaps that don’t cover specific shipments.

What happens if there is a claim?
Our insurance partners, provide a very fast and simple claims process. Upon receipt of the claim notification, our partners aim to settle claims within an unbeatable market standard within two weeks of the claim being lodged with minimal involvement from you. All claims are submitted and processed digitally.