What are the Coverage policies of Cargo Insurance?
At American Cargo Export (ACE), our cargo insurance and risk coverage go far beyond the basics to provide you with complete peace of mind during every stage of shipment air, ocean, or ground.
1. Comprehensive "All‑Risk" Protection
We offer optional yet robust "All-Risk" insurance covering most external causes of loss or damage—from handling mishaps and transport accidents to natural disasters and theft. This goes beyond standard carrier liability limits.
2. Coverage From Origin to Destination
Our policies begin when goods leave your facility and remain active through transit—up to final delivery. For air shipments, coverage typically extends 15 days after aircraft discharge.
3. CIF + 10% Value Insured
Cargo is insured at its commercial value plus 10%, aligning with CIF + 10% common export practices. This safeguards you against under-insurance penalties.
4. Protection Beyond Carrier Liability
Carriers’ standard coverage is capped—often as low as $500/container for ocean (per U.S. law) or ~$30/kg for air under the Montreal Convention.
5. General Average Coverage
Marine shipments can incur "General Average" claims—costs willingly incurred to save a vessel. Our insurance guards against such shared maritime losses, so your shipment is not disproportionately liable.
6. Tailored Coverage Options
We customize policies for shipment type:
Air: full or named-perils, with post-discharge cover.
Ocean: FCL/LCL, including perishable goods and container protection.
Ground: inland freight and multimodal transit support.
7. No Deductibles & Fast Claims Handling
Our insurance packages include no deductible, meaning any valid claim is fully compensable. We use trusted underwriters (e.g., A-rated carriers like Lloyd’s or Seven Seas), and our team facilitates prompt claim processing .
8. Clear Documentation & Expert Support
We review Incoterms (especially CIF/CIP) to confirm insurance responsibilities, assist with claims documentation, and ensure full compliance with international shipping standards.
9. Flexible Value-Based Pricing
Premiums vary by shipment value, mode (air/sea/ground), and coverage type. We cover up to full value + 10% and can adjust coverage as needed—with target rates often under 0.5–1% of total shipment value.
10. Single-Source Claim Management
Should a loss occur, we handle it start to finish—filing claims, liaising with underwriters, and negotiating settlements. You’re free to focus on running your business.