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Marine Cargo
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Protect your goods during sea transit with marine cargo insurance structured around your cargo, route, shipment value, and coverage requirements. CargoInsurePro helps businesses arrange suitable protection for international marine shipments, with support from policy placement through claims.

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What is Marine Cargo Insurance?

Marine cargo insurance protects goods against covered loss or damage while they are transported by sea. It provides financial protection for insured cargo during marine transit, subject to the selected coverage, policy terms, conditions, and exclusions.

Marine cargo insurance can protect different types of commercial shipments, including general cargo, containerised goods, machinery, electronics, vehicles, food, agricultural products, and other goods. It is also commonly referred to as sea freight insurance, sea cargo insurance, or ocean cargo insurance, depending on the market and context. The appropriate marine cargo insurance coverage depends on factors such as the cargo type, shipment value, route, transport conditions, and coverage selected.

CargoInsurePro helps businesses arrange a marine cargo insurance policy for international sea shipments, including single-voyage and ongoing shipments. We consider the shipment details and insurance requirements to help arrange suitable coverage for each marine cargo movement.

What is marine cargo insurance?
marine cargo insurance cover

What Does Marine Cargo Insurance Cover?

Marine cargo insurance can protect insured goods against covered loss or damage during sea transit, depending on the coverage selected and the terms, conditions, and exclusions of the policy. Protection can apply during the insured journey from the agreed point of origin to the covered destination.

Depending on the marine cargo insurance coverage selected, a policy may cover:

  • Physical loss or damage to insured cargo during covered sea transit
  • Theft or non-delivery, responsible for client shipmentswhere covered under the policy
  • Damage during loading or unloading, where included in the policy
  • Damage during handling or transfer associated with the insured transit
  • Loss or damage caused by insured transit risks specified in the policy
  • Additional covered risks or expenses, where specifically provided by the policy

The actual protection depends on the cargo type, shipment value, route, coverage selected, policy terms, conditions, and exclusions. CargoInsurePro helps businesses arrange marine cargo insurance coverage based on their specific shipment requirements and the risks associated with their sea freight.

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Marine Cargo Insurance Coverage
Under ICC A, B & C

Institute Cargo Clauses (ICC) A, B, and C provide different levels of marine cargo insurance coverage. ICC (A) generally provides the broadest protection on an all-risks basis, subject to exclusions, while ICC (B) and ICC (C) provide coverage for specific named risks. The exact protection depends on the applicable policy wording, conditions, exclusions, and limitations.

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Clause - ICC (A)

What It Generally Covers:

Covers accidental physical loss or damage to insured cargo, subject to exclusions and conditions. It provides broad protection and can respond to many unexpected cargo losses that are not specifically excluded.

Level of Protection: Broadest coverage of the three. Commonly described as “all-risks” cover, but it does not mean every possible loss is covered.

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Clause - ICC (B)

What It Generally Covers:

Covers a defined range of named risks, including major transit events and additional risks such as washing overboard, certain water damage, and earthquake, volcanic eruption or lightning.

Level of Protection: Wider named-risk coverage than ICC (C), but narrower than ICC (A).

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Clause - ICC (C)

What It Generally Covers:

Covers a more limited range of major named risks, including events such as fire or explosion, sinking, stranding, grounding, capsizing, collision, jettison, and general average, subject to the applicable wording.

Level of Protection: More limited named-risk coverage of the three.

In simple terms: ICC (A) → Broadest protection | ICC (B) → Wider named-risk protection | ICC (C) → More limited named-risk protection.

The right level of marine cargo insurance coverage depends on your cargo type, shipment value, route, risk exposure, and required level of protection. CargoInsurePro helps businesses arrange suitable coverage based on their specific shipment requirements.

marine cargo insurance policies

Types of Marine Cargo Insurance Policies

Marine cargo insurance policies can be structured based on your shipping frequency, cargo, and insurance requirements. Common options include single-voyage, open cover, annual, and specialized or bespoke arrangements.

  • Single-Voyage Policy: A single-voyage policy covers one specific shipment or sea journey. It can suit businesses that ship occasionally or need cover for a particular consignment, subject to the agreed policy terms and conditions.
  • Open Cover Policy: An open cover is designed for businesses with regular or recurring shipments. It provides an ongoing insurance arrangement for eligible shipments during an agreed period, subject to policy terms, limits, and declaration requirements.
  • Annual Policy: An annual policy provides ongoing cargo insurance for an agreed policy period. It can suit businesses that regularly import, export, or trade goods and need continuing protection for eligible shipments.
  • Specialized or Bespoke Policy: Some shipments need tailored insurance because of their cargo type, value, size, route, or transportation requirements. Specialized or bespoke cover can be structured around the specific shipment, subject to underwriting assessment and agreed policy terms.

Calculate Your Marine Cargo
Insurance Cost

Get a quick estimate of your marine cargo insurance cost by entering your shipment details in our calculator. Provide your cargo value and other key shipment information to see an estimated cost based on the details you provide.

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Why Choose CargoInsurePro for Marine Cargo Insurance?

CargoInsurePro helps businesses arrange marine cargo insurance based on their cargo, shipment value, route, and coverage requirements. From selecting suitable cover to handling claims, our team supports you throughout the insurance process.

MAS-Licensed Broker

CargoInsurePro is a MAS-Licensed Broker, providing businesses with a regulated point of contact when arranging marine cargo insurance.

Access to A-Rated Underwriters

We work with A-rated underwriters to help businesses access suitable marine cargo insurance options based on their shipment details and coverage requirements.

Policy Issuance Within 24 Hours

We can arrange policy issuance within 24 hours once the required shipment information and underwriting requirements are complete.

Digital Insurance Certificates

Once your policy is issued, we provide digital insurance certificates, making your insurance documents easier to access, store, and share.

End-to-End Claims Assistance

Our support continues after policy placement. If covered cargo is lost or damaged, we provide end-to-end claims assistance and help coordinate the process with the relevant insurance parties.

Coverage Across 150+ Countries

CargoInsurePro helps businesses arrange marine cargo insurance for international shipments across 150+ countries, subject to coverage availability, underwriting requirements, and policy terms.

Marine Cargo Insurance Across Southeast Asia,
the Middle East & Beyond

Shipping cargo by sea involves different routes, destinations, and transit conditions. CargoInsurePro helps businesses arrange marine cargo insurance for international sea shipments, with coverage structured around the cargo, shipment value, route, and selected protection.

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Cambodia

Sihanoukville Port & Phnom Penh coverage

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Thailand

Bangkok, Laem Chabang & border crossings

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Malaysia

Port Klang, Johor & KLIA coverage

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China

Major ports & manufacturing regions

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India

Mumbai, Chennai & inland destinations

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Singapore

Regional hub & transshipment coverage

Marine Cargo Insurance Claims

If your insured cargo is lost or damaged during covered transit, CargoInsurePro provides end-to-end claims assistance. We help coordinate with the relevant insurance parties and guide you through the claims process, subject to the applicable policy terms and conditions.

For detailed information about the claim process and required documentation, explore our dedicated resources.

Understand the Claim Process
What is marine cargo insurance?

Marine Cargo Insurance FAQs

Common questions about marine cargo insurance coverage and claims

01. Can CargoInsurePro arrange marine cargo insurance for international trade?

Yes. CargoInsurePro helps businesses arrange marine cargo insurance for international sea shipments, including import and export cargo. Coverage can be structured around the cargo type, shipment value, origin, destination, route, and selected protection, subject to applicable policy terms, conditions, exclusions, and underwriting requirements.

A marine cargo insurance policy includes exclusions, conditions, and limitations that define what the policy does not cover. Depending on the applicable wording, exclusions may include ordinary wear and tear, inherent vice, inadequate or insufficient packing, delay-related losses, and other specifically excluded circumstances. Review the policy wording carefully to understand the exclusions applicable to your cargo.

Marine cargo insurance protects the goods being transported, while hull and machinery insurance protects the insured vessel and its machinery against covered physical loss or damage. They insure different interests. Cargo owners generally arrange cargo insurance to protect their goods, while vessel owners may arrange hull and machinery insurance for the ship.

Marine cargo insurance can be useful for businesses with a financial interest in goods during transit, including importers, exporters, traders, manufacturers, e-commerce businesses, and other cargo owners. The responsibility for arranging insurance can depend on the sales contract, Incoterms, and agreed risk-transfer terms.

A carrier’s liability cover is not the same as cargo insurance. Carrier liability may be limited by the applicable contract, transport terms, or law and may not fully compensate you for the value of your goods. Marine cargo insurance protects insured cargo according to the selected coverage, policy terms, conditions, exclusions, and applicable limits.

War and strike risks are not automatically included in every marine cargo insurance policy. Separate war or strike coverage may be available depending on the cargo, route, insurer, policy terms, and underwriting requirements. Check the applicable policy wording to confirm whether these risks are covered.

 

Yes. CargoInsurePro can help businesses arrange coverage for high-value and specialized cargo, subject to underwriting assessment and available terms. The insurer may consider factors such as the cargo type, value, route, packaging, transport conditions, and risk exposure before confirming the available coverage.

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