Cargo insurance
CMR insurance, carrier liability, all-risks vs limited — what to choose
Cargo insurance
CMR insurance:
Carrier liability insurance — mandatory for international transport under the CMR convention.
Carrier liability:
8.33 SDR/kg — CMR limit; if the cargo is worth more, separate cargo insurance is needed.
Cargo insurance:
Policy on the cargo itself: 'all risks' vs 'limited liability' (only listed risks).
What's covered:
Damage, loss, theft, accident, fire, flooding during road/rail/sea/air transport.
Exclusions:
Natural wear, poor packaging, hidden defects, delay (downtime losses).
Coverage period:
From loading to unloading; single trip or annual policy for all shipments.
Claim documents:
CMR with damage notes, photos, inspection report, invoice, bill of lading — record everything at unloading.
Who insures:
Cargo owner insures the cargo; carrier insures their liability; ideally both policies.