What is Cargo Insurance?
Cargo insurance protects the cargo owner against loss of or damage to goods in transit caused by accidents, fire, theft, breakage, wetting and similar events, according to the selected clauses (ICC A, B or C).
Carriers' legal liability is limited, and in many cases the carrier cannot be held liable at all. The safest way to protect the real value of the goods is therefore a cargo policy issued in the cargo owner's name. Indemnity is calculated on the invoice value plus agreed additions such as freight and expected profit.
For companies shipping regularly, an annual open cover policy lets every shipment be declared under one policy and removes the risk of uninsured shipments. For occasional shipments, a single-voyage policy is issued.
What is covered?
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ICC (A) – All risks
All loss and damage except the exclusions in the policy, including theft, breakage and wetting.
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ICC (B) – Extended named perils
Fire, explosion, overturning, collision, earthquake, entry of sea water and total loss of a package dropped during loading or unloading.
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ICC (C) – Basic perils
Basic perils such as fire, explosion, sinking, stranding, collision and general average.
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Door-to-door cover
The whole transit including loading, interim storage, transhipment and unloading.
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General average and salvage
The cargo owner's general average contribution and salvage charges in sea transport.
Optional extensions
- War and strikes clauses
- Deterioration cover for cold chain / reefer cargo
- Expected profit and customs duty cover
- Exhibition and trade fair goods
- Insufficient packing extension (subject to insurer approval)
Who is it for?
- Manufacturers and traders importing and exporting
- Distribution companies shipping regularly within Türkiye
- E-commerce and retail companies
- Buyers of project cargo, machinery and equipment
Information needed for a quote
Sharing the following information lets us obtain fast and accurate quotes from several insurers.
- Type of goods, packing and invoice value
- Origin and destination, mode of transport
- Delivery terms (Incoterms)
- Estimated annual shipment volume (for open cover)
- Claims history
Frequently asked questions
How is the cargo insurance premium calculated?
The premium depends on the type and sensitivity of the goods, packing, mode of transport and route, the selected clause and the sum insured. For annual open covers, shipment volume also affects the rate.
How is the sum insured determined?
Usually the CIF value (cost + insurance + freight) is used, often with 10% added for expected profit. This ensures the amount needed to replace the goods is covered in a claim.
If the carrier has insurance, do I still need cargo insurance?
Yes, it is recommended. Carrier's liability insurance only responds where the carrier is at fault and within statutory limits. Cargo insurance protects the owner's goods regardless of fault.
How long does it take to receive the indemnity?
It depends on the nature of the loss, the surveyor's report and the complete submission of documents. Our team follows your file with the insurer to speed up the process.
Scope of cover and limits are determined by the general and special conditions of the issuing insurer.