Trip cargo insurance is an all-risk insurance coverage that provides protection to the buyers or sellers of products, merchandise, or goods against loss or damage of the cargo during transport. The one who assumes responsibility depends on the specifications of the mutual agreement. However, exclusions include mold, dampness, wear and tear, war, losses due to shipment delay or market changes, war, and nuclear disaster.
As cargo pertains more to the goods rather than the transporting, trip cargo insurance is of more relevance to the cargo owners, such as the manufacturers, wholesalers or suppliers. Trip transit insurance, on the other hand, is more for the couriers, forwarders and haulers who do the transporting.
Share this Term
Stay informed with Insuranceopedia!
The world of insurance can be complicated. Subscribe to the Insuranceopedia newsletter and stay in the know! Access expert content, industry term definitions and answers to your questions from knowledgeable insurance insiders. Arm yourself with what you need to know to keep your assets and your family safe.
Latest Articles
