Eliandro Oliveira

International transportation insurance: find out more about the existing types of cargo import and export insurance.

In addition to the cost of the merchandise transported, cargo owners may also include expected profits, freight, taxes and other expenses in their insurance coverage.

Transportation insurance covers cargo against various types of risks. It provides basic and additional covers, as well as specific clauses for road, waterborne (sea, river and lake), air and rail modes of transportation, anywhere within the Brazilian territory and international shipments, both import and export operations.    

The policies follow the conditions of the standard form specified by SUSEP – Private Insurance Superintendence, which contains the basic rules for this line of insurance. However, covers that are not part of the standard conditions can be included, as well as alterations that may be required for different risks.  

International transportation insurance

This insurance is generally written on an All Risks basis, i.e., it covers damage arising from transportation, from the moment of shipment through to final delivery of cargo.   

This type of insurance is split into two categories, import and export, with the possibility of including additional covers for war, strikes, riots, freight, expenses, taxes, and expected profits for cargo destined to be sold or processed, and deterioration of cargo, among other risks, at the option of the insured.    

Cargo import insurance

Insurance for merchandise transported by various modes of transportation, in import operations. This insurance is not compulsory, but it provides important covers for the person responsible for the merchandise, which can be either the seller or the buyer, depending on the agreed condition of sale.

Cargo export insurance

Insurance for merchandise transported by various modes of transportation, in export operations. This also is not a compulsory insurance. Like import insurance, it provides two types of basic covers:

  1. Limited: covers financial losses arising from loss of or damage to cargo caused by accidents with the transporting vehicle.     
  2. Comprehensive: in addition to the risks insured by the limited basic cover, it also insures loss and damage from external causes, as well as from loading and discharge operations, disappearance, robbery or breakage.

Place your International Transportation insurance with CredRisk Marine. We also clarify all your doubts, and provide other consulting and management services related to the supply chain.