Cargo
Insurance

The policy provides coverage for loss or damage to cargo during transit by sea, air, rail, or road. Covered risks typically include fire, theft, accidental damage, natural disasters, vessel sinking or grounding, collision, overturning, and non-delivery. Coverage specifics depend on the terms outlined in the policy, such as Institute Cargo Clauses (A, B, or C).

The policy generally covers a wide range of goods, including perishable items, bulk commodities, electronics, machinery, and containerized shipments. However, certain cargo types may require special endorsements or may be subject to exclusions. Please refer to the policy conditions for more information.

As per policy

The insured value is typically based on an agreed value basis of the goods.

To ensure accurate coverage, you should keep a detailed inventory listing all items being shipped. This should include descriptions, quantities, serial numbers (if applicable), and values. In the event of the claim, you should submit supporting documentation such as invoices and packing lists.

• When Loss occurs- Immediately, notify AXA XL and at the same time, request claimant to file a notice of claim against all parties involved for the damages to the cargo
• Take all reasonable and necessary steps to mitigate any loss or damages to the cargo.
• Please gather and retain any evidence such as photographs, videos, names of witnesses, incident report issued by airlines or third party, notes of protest and the like to support your claim.
• You should not admit liability, assume any obligation, make any payment or offer any settlement without our prior written consent, instead, refer to AXA XL.
• Please retain any damaged cargo for further inspection.
• Complete the Claim Form.

To file a claim, the insured must submit a completed claim form along with supporting documents, including:

• Shipping documents (bill of lading, airway bill, or transport receipt)
• Commercial invoice and packing list
• Damage report or surveyor’s report (if applicable)
• Photographic evidence of the damage
• Copy of correspondence with the carrier regarding the loss or damage. The insurer will evaluate the claim, verify the coverage, and process the settlement as per policy terms.
• Click here to submit your claim – Please input your Certificate number and Shipment reference number.

The deductible is the amount you must pay out of pocket before the insurance coverage applies. The exact deductible varies depending on the policy terms and type of coverage selected.

Coverage typically begins when the cargo leaves the point of origin and ends upon arrival at the final destination.

Losses occurring during packing are not typically covered unless the damage results from an insured peril after transit has commenced. Proper packaging is the responsibility of the shipper.

Special provisions apply to automobile and motorcycle shipments, including coverage for damage during loading, unloading, and transit. Additional requirements such as pre-shipment inspections and special deductibles may apply.

Standard policies may not cover storage before shipment or after arrival unless explicitly included. You may need to purchase additional storage coverage.

Compensation is typically based on the insured value of the goods. The insurer may pay the cost of repairs, replacement, or the declared value of the shipment, subject to policy terms and applicable deductibles.

Yes, policies can generally be cancelled subject to terms and conditions. Refunds, if applicable, will be based on the unused portion of the policy and administrative fees.

To obtain a quote, provide details such as:

• HS code of cargo items
• Description of the cargo
• Tracking number (optional but recommended)
• Mode of transport (sea, air, road, or rail)
• Start and end date of shipment
• Origin and destination of the shipment
• Declared value of the goods

For further information, please refer to the full policy document or contact our support team at digital@tigermar.com