Maersk Cargo Insurance

We take care of every container we ship. However, some events might be outside of our control, such as extreme weather, fire, or perils of the sea, that may result in cargo loss or cargo damage.

International laws limit the liability of carriers and set limits on potential pay-out limits. We have worked with Zurich Insurance to bring you a product, Maersk Cargo Insurance, to protect your goods against all risks of physical loss or damage subject to the exclusions outlined below.

Maersk Cargo Insurance provided by Zurich Insurance is simple to avail. Zurich has a long history in marine insurance, starting as a marine reinsurer in 1872.

• Zurich Insurance is one of the largest marine cargo insurers in the world
• Zurich Insurance can issue policies and handle claims in over 200 countries using Zurich Insurance Group offices and their partner network
• Zurich Insurance also has the necessary capacity and financial credentials to insure the world’s largest shipments. They have the prestigious “AA-” rating by Standard & Poor’s.

Under a cargo policy, you would usually value goods at the invoice cost, freight charges and an additional percentage of the total of those amounts (normally 10%). The additional percentage accounts for charges that may be incurred during shipping but aren't known at the time of booking.

Your cargo insurance policy covers your cargo according to the Institute Cargo Clauses (A), which provide cover for All Risks of loss or damage. This means that your goods would be covered against any physical loss or damage from an external cause, except as excluded.

Your policy contains a few exclusions, all of which are common in cargo insurance policies. For example, the insurance may not pay for loss or damage caused by:

• You intentionally taking an action that damages your goods or incurs an expense
• Wear and tear, ordinary leakage, ordinary loss in weight or volume, or inherent vice of the goods;
• Delay, loss of market or consequential loss of any description

Your cargo insurance policy covers your cargo according to the Institute Frozen/Chilled Food Clauses (A), which provide cover for All Risks of loss or damage subject to all reasonable precautions being taken to ensure that the goods are properly refrigerated throughout the journey. This means that your goods are covered against any physical loss or damage from an external cause, except as excluded.

Your policy contains a few exclusions, all of which are common in cargo insurance policies. For example, the insurance may not pay for loss or damage caused by:

• You intentionally taking an action that damages your goods or incurs an expense
• Wear and tear, ordinary leakage, ordinary loss in weight or volume, or inherent vice of the goods;
• Delay, loss of market or consequential loss of any description;
• Loss, damage or expense caused by you or your employees failing to take reasonable steps to ensure that your goods are properly refrigerated

Yes. Maersk Cargo Insurance provided by Zurich Insurance not only covers the loss and damage due to a General Average situation but also for any General Average contribution you are required to pay.

General Average is a long-established procedure in the maritime industry for distributing extraordinary losses and expenditures following a casualty, in a fair manner, between the parties (vessel and cargo) involved.

No. Your goods are covered from the time they are first moved for the purpose of loading for transit, until the completion of unloading at the destination, regardless of the carrier.

The cargo insurance policy extends to temporary storage of goods during the normal course of transit. However, if the goods are stored outside the normal course of transit, at the request of the cargo owner, then the storage cover is not provided.

If you are shipping dry goods, then our cargo insurance policy covers your liability to Maersk for damage to the container in your care. However, this coverage isn’t available for damage to a reefer container.

Maersk Cargo Insurance provided by Zurich Insurance covers goods from and to almost every country in the world. The only exclusions are the sanctioned countries like Cuba, Iran, North Korea and Syria.

Maersk Cargo Insurance provided by Zurich Insurance is only valid for commercial use. The cargo insurance policy shall be cancelled, and any premiums paid will be returned in the event the policy is purchased by a private individual. By accepting the insurance policy offered, Customer confirms that it is a commercial undertaking using the insurance for commercial purposes.

Maximum insurable cargo value per shipment is EUR 1 million (or equivalent in other currencies).

Yes, you can purchase Maersk Cargo Insurance provided by Zurich Insurance for your special cargo as well. There are some commodities that are excluded from the coverage. You can request your insurance premium rate here and check if your commodity is covered.

You can find the expected premium amount here. This amount will be inclusive of Insurance Premium Tax. At the payment stage, amount will be split into insurance premium and Insurance Premium Tax.

At the time of shipment, in addition to the regular information, you will be prompted to provide only a few additional details, such as the value of the cargo and details of the policy holder.

Documents will be sent immediately after the booking confirmation, to the registered email of the party who booked the shipment.

Currently, cargo insurance can only be purchased online, at the time of booking. Please talk to your sales representative for more details on Maersk Cargo Insurance provided by Zurich Insurance, so that you do not have to worry about insuring your shipments in the future.

Insurance cannot be purchased once the shipment is in transit.

If you cancel your shipment, your insurance will be cancelled automatically.

It is possible but only before the shipment is gated in to the origin terminal. You can remove the insurance from your personal shipment binder on Maersk website.

Unfortunately, it is not possible to change any of the above parameters after the insurance is bound.

It will be included in your normal freight invoice from Maersk.

Insurance Premium Tax is a standard charge for the insurance transactions. It will be a part of your invoice and must be paid.

To speed up the processing of your claim, please provide the following documentation, if available:

• Commercial invoice
• Photographs of damage
• Bill of Lading/CMR Note/Waybill
• Packing list
• Freight invoice
• Letter of Protest

This will vary from case to case. Simple claims, with all the documents and information, are usually settled in 2-3 business days. Handling of complex cases will vary based on the details of each case.

Zurich Insurance may choose to appoint a surveyor, depending on the details of the claim. If a surveyor is required, Zurich Insurance will advise you on who will be appointed and what the next steps will be.