Cargo insurance

Cargo insurance

ACE helps the clients to protect themselves from inconvenience by assisting to have full insurance of cargos.

In the case of transportation of goods, the loss of goods or decrease in their value is covered by the liability insurance of the carrier.

  • in air transport, the maximum of 19 SDR per kg
  • in road transport, the maximum of 8,33 SDR per kg
  • in maritime transport, the maximum of 2 SDR per kg or 666,67 SDR per unit whereas the basis for such calculation is the highest value.
  • In addition to the restricted rates of compensation, the responsibility of the carrier also includes damage, which has taken place due only to the faults of the carrier. The carrier is not responsible, if damage was caused by circumstances which the carrier could not avoid (e.g. robbery).

 

We recommend to take full carriage insurance for your goods:

if the value of your goods exceeds the given insurance value marginal rates for the liability of the carrier, and, if you want insurance also for the situation where the carrier is not responsible for the damage of goods.

This insurance covers all risks according to the stipulations of ICC (A). Insurance may be concluded for one consignment (single policy), or you can have a so named open policy for a certain period of time (e.g. a year), for the transport of all cargo during this period (an open policy). If the customer does not want to insure goods against all the risks, it is possible to have them insured on restricted conditions, against concrete risks (e.g. traffic accident, fire, theft, etc.). The insurance of cargo according to restricted insurance coverage ( and, consequently, cheaper) is carried out on the basis of clauses ICC (C) and ICC (B).

ICC (C) conditions cover the main transport risks (traffic accidents, fire, explosion, shipwrecks) and are perfect for road transport (incl. roll on/roll off ferries).

ICC (B) conditions cover more risks and are suitable for the carriage of goods when part of the route involves reloading on cargo vessels (e.g. container vessels).

It is possible to add single risks to both the above-mentioned sets of conditions, for instance, the theft of goods, robbery, loss or vandalism.

ICC (C) and ICC (B) are both cheaper for the customer, but they also cover a smaller number of risks (damage has to be caused by a certain risk), ICC (A) clause, on the contrary, has a remarkably wider coverage – the risk, due to which the damage takes place, is not important (the so named all risk insurance).

The price for full cargo insurance depends on the route, type of transportation, package, the type of goods, and the price.

It is relevant to draw attention to the fact that in both cases – regarding cargo insurance and the liability of carrier and freight forwarder – neither the insurance company nor the transport company shall be responsible for damage under the following circumstances:

if the packaging of goods is not suitable for the transportation of goods (this is traditionally the risk of both the producer and the consignor);
if goods are damaged due to their peculiar characteristics (e. g evaporation) or due to force majeure.
For the conclusion of full cargo insurance, we request you to fill in the cargo insurance application form below, or to print out the form in Excel format, and fax it to us.

The insurance of cargo is brokered by ACE, but the parties of an insurance contract are the customer, and the insurance company.

Copyright 2018 ACE Logistics Latvia SIA ace@ace.lv