What is marine cargo insurance and what does it cover?
Quick answerChoose All Risks for most manufactured goods. Insure at CIF value plus 10%. Premiums: roughly 0.03–0.15% of insured value for ordinary cargo, higher for fragile, high-value or high-risk areas. Report damage immediately, keep the container and packaging intact, and get a third-party survey before unpacking.
Cover levels
FPA: total loss and general average contribution only.
WA/WPA: adds partial loss caused by natural events.
All Risks: adds external causes — theft, breakage, water damage, non-delivery.
Claims
Notify insurers and the carrier promptly, in writing.
Preserve evidence: photos, container condition, tally records.
Carrier liability limits are low; insurance is the only realistic full recovery route.
| Cover | Scope | Relative premium |
|---|---|---|
| FPA | total loss + general average | lowest |
| WA/WPA | FPA + natural partial loss | medium |
| All Risks | WA + external causes | highest (0.03–0.15% typical) |
Frequently asked questions
- Who insures under FOB?
- The buyer, since the buyer bears risk after loading. Under CIF the seller insures, at minimum cover.
- Does insurance cover delay?
- Standard cargo cover excludes delay-related commercial loss; separate cover is needed.
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Related
qa/cargo damage claim
qa/fob vs cif
Rates from China to all countries
Weekly China export freight index
Source: Juhe Zhuang rate platform (jhz56.com) market data and carrier documentation. Figures are reference ranges, not transaction prices; verify with your forwarder before booking.