# Freight Casualty Insurance

*Last updated: 2026-06-23*

> Freight casualty insurance protects the cargo owner – shipper or consignee – against financial loss from damage, theft, or total loss of goods in transit, regardless of whether the carrier bears any fault.

Freight casualty insurance protects the cargo owner – shipper or consignee – against financial loss from damage, theft, or total loss of goods in transit, regardless of whether the carrier bears any fault. That fault-independence is the defining difference from statutory carrier liability regimes: conventions such as the CMR or the Hague-Visby Rules impose caps that routinely fall well short of the actual value of the goods being moved. The policy typically covers accidents, adverse weather, mishandling, and theft. It is particularly relevant for high-value electronics, pharmaceuticals, and perishable cargo, where even partial damage can trigger a near-total write-off. Depending on how the policy is structured, settlement is based on actual cash value or an agreed declared value.

**Source:** [https://en.wikipedia.org/wiki/Cargo_insurance](https://en.wikipedia.org/wiki/Cargo_insurance)

## Quick Facts

| Property | Value |
|---|---|
| Term | Freight Casualty Insurance |
| Language | EN |
| Word count | 118 |
| Last updated | 2026-06-23 |
| Source | https://en.wikipedia.org/wiki/Cargo_insurance |

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