Shipment Transit Insurance
Comprehensive protection for goods in transit against damage, loss, or theft anywhere in the world, independent of carrier liability limits.
The assurance that your goods will arrive safely – or you'll receive 100% of their value.
Many companies mistakenly believe their goods are fully protected by carrier insurance. However, carrier liability is limited by international conventions (e.g., CMR) and often doesn't cover even a fraction of the actual value of the cargo, nor does it apply to all types of damage. Our property (cargo) transit insurance solves this problem. It provides coverage for the full value of the goods throughout the entire logistics chain – whether you transport them with your own vehicles or use external carriers, by road, rail, sea, or air.
Why not rely on carrier insurance?
Cargo vs. CMR Insurance
The carrier is liable for damages only up to the limits set by the CMR Convention (approx. 250 CZK per 1 kg of weight). If you're transporting lightweight electronics worth millions, you'll only receive a fraction of the value from the carrier in case of loss. Furthermore, the carrier is not liable for damages caused by "force majeure" (e.g., natural disaster, robbery without driver's fault). Our cargo insurance covers the full invoice value of the goods, regardless of weight or carrier's fault.
Incoterms and Insurable Interest
In international trade, it's crucial to correctly determine who bears the risk for goods during transit. We analyze your delivery terms (Incoterms 2020) and set up the insurance policy so that you are covered precisely for the segment of transport where the risk transfers to you, or to fulfill your obligation to insure the goods for the buyer (e.g., under CIP or CIF terms).
One-off vs. Framework Agreements
For companies with regular import or export, we arrange framework (open cover) agreements that automatically cover all shipments without the need for individual reporting. For specific projects (e.g., importing a single production line), we provide individual one-off insurance tailored to the specific route and risk.
Examples of Real-Life Events This Insurance Covers
Truck Accident with Electronics
A truck carrying laptops crashed. The carrier, under CMR, paid only a fraction of the cost (based on weight). Cargo insurance covered the remaining amount up to the full invoice value.
General Average at Sea
A container ship ran aground, and part of its cargo had to be sacrificed for its salvage. The costs of salvaging the ship were apportioned among all cargo owners. The insurance covered this cost.
Theft at a Rest Stop
Thieves cut open the trailer's tarpaulin and stole goods while the driver was asleep. The carrier disclaimed liability (they were not at fault, but the thieves were not apprehended). Cargo insurance fully covered the damage.
Temperature Fluctuation During Pharmaceutical Transport
A malfunction of the refrigeration unit spoiled a shipment of pharmaceuticals. Insurance with a perishable goods clause covered the entire damage, including ecological disposal.
How Eurovalley can help you
The Art of Protecting Art: How to Properly Insure Works of Art
Paintings, sculptures, antiques, as well as modern installations or collector's editions – art can hold immeasurable financial, historical, and emotional value. And just like any other valuable asset, artworks deserve adequate protection.
Let's Talk About Transit Insurance
Many companies mistakenly believe their goods are fully protected by carrier insurance. However, carrier liability is limited by international conventions (e.g., CMR) and often doesn't cover even a fraction of the actual value of the cargo, nor does it apply to all types of damage. Our property (cargo) transit insurance solves this problem. It provides coverage for the full value of the goods throughout the entire logistics chain – whether you transport them with your own vehicles or use external carriers, by road, rail, sea, or air.
