Cargo insurance protects your goods while in transit against loss, damage, or theft and expenses incurred on occurrence of an insured event. This insurance administers the commercial commodity exchange by protecting individuals and legal entities – owners of cargo, against the risks during carriage. Generally, goods are insured while being stored and while in transit, until they reach the buyer. Cargo insurance covers transits carried out in water, air, road or rail.
The insurance coverage is in accordance with the London Institute Cargo Clauses as follows: