Trip Cargo Insurance

What Does Trip Cargo Insurance Mean?

Trip cargo insurance is an all-risk insurance coverage that protects buyers or sellers of products, merchandise, or goods against loss or damage during transport. The party responsible for the cargo depends on the terms specified in the mutual agreement. However, exclusions from coverage include mold, dampness, wear and tear, war, losses due to shipment delays or market changes, and nuclear disasters.

Insuranceopedia Explains Trip Cargo Insurance

Since cargo pertains more to the goods themselves rather than the transportation process, trip cargo insurance is particularly relevant to cargo owners, such as manufacturers, wholesalers, or suppliers. On the other hand, trip transit insurance is more suited for couriers, forwarders, and haulers who handle the transportation of the goods.