Marine Cargo Insurance

Any business concern that exports or imports property, should effect Marine Cargo insurance. A loss to the property could happen at any time e.g. en route to port, whilst at sea a, whilst being off loaded etc. The risk attachment point for marine cargo insurance can be complex, since it is governed by the agreed terms of sale,which usually are Incoterms shipping terms. It is crucial that businesses appoint a qualified risk professional to assist with the construction of a marine cargo policy that is tailor made to your risk and needs.

Home > Business Insurance > Specialised Business > Marine Cargo Insurance


Chadwicks are proficient in securing an insurance solution for your international cargo risk, including access to Stock Throughput policies (cradle to grave cover for certain property or consignment stock).

Marine Cargo Incoterms

Incoterms were designed to standardize contract terms – thus making it easier to follow what obligations, expenses, risks & other elements affect international trade. 

The terms are divided into four categories:

  • E-Terms – where the Seller (Exporter) makes the goods available to the Buyer (Importer) at the Seller’s own premises only
  • F-Terms – where the Seller is called upon to deliver the goods to the carrier appointed by the Buyer
  • C-Terms – where the Seller has to contract for carriage, but without assuming the risk of loss to the goods or additional costs due to the loss occurring after     shipment. CIF & CIP being exceptions where the seller is compelled by the terms to arrange Marine Insurance in addition to contracting for carriage (no greater obligation than Institute C Clauses & valuation of CIF plus 10%).
  • D-Terms – where the Seller has to bear all costs & risks needed to bring the goods to the country of destination (these terms are normally only used by the motor trade)

Key risk questions, other than the terms of sale (Incoterms) include:

  • The method of transit i.e. ship, airfreight, rail etc.
  • Whether any transshipment will occur (off loading of containers from one ship to another)
  • The basis of valuation
  • How the goods will be packed
  • The type of commodities
  • Any deliberate or intermediate storage
  • Type of container eg temperature controlled, FCL,LCL etc
  • Any bonded storage

Please contact Chadwicks should you require assistance with regard to your international cargo risk or marine cargo insurance.

Get a Quote


Get the latest insights and insurance advice.