What is All-Risk Coverage?
All-risk cargo insurance is a type of insurance that provides coverage for a wide range of risks that may damage or destroy goods in transit. It is a broad-based policy that covers losses and damages due to any cause, except for those specifically excluded in the policy.
All-risk cargo insurance is typically more comprehensive than other types of cargo insurance, as it provides coverage for a wider range of risks. This can include risks such as accidents, natural disasters, theft, and loss of or damage to the goods due to handling or storage.
All-risk cargo insurance does not actually cover “everything” that can damage or destroy cargo. It is important to carefully review the terms and conditions of an all-risk cargo insurance policy to understand what is and is not covered. Some exclusions may apply, such as war or acts of terrorism.