Types of Cargo Insurance

  • All Risks (ICC A): Broadest coverage — covers all loss or damage except excluded perils (war, strikes, inherent vice). Recommended for high-value shipments.
  • With Average (ICC B): Covers general average, stranding, sinking, fire, earthquake. Intermediate coverage.
  • Named Perils (ICC C): Covers only specific listed perils (fire, explosion, collision). Most affordable but limited.

What's Typically Excluded

  • War and civil war (unless added via Institute War Clauses)
  • Strikes, riots, and civil commotions (unless added)
  • Inherent vice or nature of the goods
  • Insufficient or unsuitable packaging
  • Delay (even if the cause is covered)
  • Insolvency of the carrier