transport insurance

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Last updated: 16 June 2026Published: 19 June 2025

Source: https://de.wikipedia.org/wiki/Transportversicherung

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Incoterms 2020 Simulator: Who bears costs & risk?

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Definition & Explanation

Transport insurance protects cargo owners, shippers, and consignees against financial loss resulting from damage, theft, or loss of goods in transit. Coverage typically runs from collection at the point of origin to final delivery and can extend across all modes of transport – road, sea, air, and rail – within a single policy. Under Incoterms 2020, CIF and CIP require the seller to arrange insurance on behalf of the buyer. A key distinction: a carrier's liability insurance covers only the carrier's statutory obligation, which is capped well below the commercial value of most shipments. Without a separate cargo insurance policy, the difference in value remains the cargo owner's risk.

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Related Terms

Transport declaration (Passar)

Digital Transport Slip (DTS)

Rail freight transport

Substitute transport (Ersatzverkehr)

Federal Office for Goods Transport (BAG)

Multimodal Transportation

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