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marine cargo insurance | Freight-Academy™

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GlossaryEN1 min readUpdated: Jun 22, 2026

marine cargo insurance

Unlike general transit insurance, marine cargo insurance is built around the specific perils of ocean carriage: it covers goods against loss or damage throughout the voyage and typically extends to port handling and transshipment.

Quick Answer

Unlike general transit insurance, marine cargo insurance is built around the specific perils of ocean carriage: it covers goods against loss or damage throughout the voyage and typically extends to…

Cover is available as a single-shipment policy, an open or annual policy for regular traders, or – relevant to shipowners rather than shippers – hull insurance, which protects the vessel itself…

Premiums reflect commodity type, trade lane, vessel condition, and the scope of cover chosen; moisture damage, contamination, and general average are the characteristic claims in maritime trade.

Last updated: 22 June 2026Published: 19 June 2025

Source: https://en.wikipedia.org/wiki/Marine_insurance

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marine cargo insurance

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Definition & Explanation

Unlike general transit insurance, marine cargo insurance is built around the specific perils of ocean carriage: it covers goods against loss or damage throughout the voyage and typically extends to port handling and transshipment. Cover is available as a single-shipment policy, an open or annual policy for regular traders, or – relevant to shipowners rather than shippers – hull insurance, which protects the vessel itself rather than its cargo. Premiums reflect commodity type, trade lane, vessel condition, and the scope of cover chosen; moisture damage, contamination, and general average are the characteristic claims in maritime trade. In day-to-day practice, the cargo policy is closely linked to the bill of lading. Under Incoterms CIF and CIP the seller must arrange insurance; under all other terms, the buyer or freight forwarder bears that responsibility.

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Recommended format: Source: Freight Academy – marine cargo insurance (https://www.freight-academy.com/en/glossary/marine-cargo-insurance), accessed 2026-09-28
APA style: Freight Academy Editorial Team. (2025). marine cargo insurance. Freight Academy. https://www.freight-academy.com/en/glossary/marine-cargo-insurance
BibTeX: @misc{marinecargoinsurance2025, title = {marine cargo insurance}, author = {{Freight Academy Editorial Team}}, year = {2025}, url = {https://www.freight-academy.com/en/glossary/marine-cargo-insurance}, note = {Freight Academy, accessed 2026-09-28} }

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