Cargo insurance is typically necessary because during transportation:

1) Owner cannot control the cargo integrity. Under sales contracts, there is a rather lengthy period when sold goods have left the seller, yet have not been received by the buyer. This is the period of transportation. Cargo owners can bear damages resulting from loss, theft of physical damage of their goods. According to statistics, the most serious harm is due to cargo theft and shortage. Possible physical damage during transportation should also be taken in consideration.

2) The process of shipment can be handled by several carriers using several means of transportation.

3) During the delivery stage, the cargo can cross several borders.

Such factors must be taken into account when choosing a type of insurance.

Cargo is the part of an organization's property that makes steady and sustained operation possible. This is why loss of a cargo affects business profitability and is capable of aggravating relationship between suppliers and clients.

In order to protect themselves against possible damages, cargo owners turn to seek insurance services.

Insurance lets the cargo owner:

• to recover production and trading processes as quickly as possible;
• repair the damages in a short period of time;
• minimize costs needed to recover economical activity;
• protect own interests and those of partners.

CJSC Ukrainian Insurance House offers you a complete cargo insurance solution, for cargos shipped by any transportation means, both within and beyond the territory of Ukraine.

Cargo insurance regulations used in the company allow to provide insurance coverage of all risks. The regulations have been developed based on the rules of the Insurance Institute of London, and adjusted to meet Ukrainian legal requirements and practices.

At the customer’s option, the insurance may be based on one of the following terms:

1.“liability for all risks, including rescue costs” – this term covers: a) damages inflicted by destruction, physical damage or loss (complete or partial) of the insured cargo due to any reason; b) all necessary and reasonable cargo rescue costs; c) costs needed to minimize damages and assess the damages;

2. “liability for all risks, except for rescue costs” – this term covers losses due to destruction, damage or loss of the insured cargo (or part thereof) due to any reason. Reasonable and proper cargo rescue costs are not covered;

3. "liability for damage" – this term includes protection under insurance contract and covers destruction, damage or loss of the cargo (or part thereof) due to:

• fire or explosion;
• overturn or derailment of land vehicle;
• collision of two or more land vehicles, or collision with other moving or stationary objects;
• thunderbolt, earthquake, volcanic eruption; breakage of bridges, destruction of warehouse facilities;
• complete loss of the vehicle;
• loading of fuel to a vehicle, provided all safety requirements were met.

Your will be indemnified for all reasonable and proper cargo rescue costs, as well as the costs needed to minimize loss and assess the damage.

4. “no liability for damage, except for cases of complete destruction or loss” – this term covers complete destruction or loss of cargo (all cargo or part thereof), plus its damage in case of vehicle crash only (i.e. complete destruction of the vehicle), as a result of:

• fire or explosion; overturn or derailment of land vehicle;
• collision of two or more land vehicles, or collision with other moving or stationary objects;
• thunderbolt, earthquake, volcanic eruption; breakage of bridges, destruction of warehouse facilities;

Your will be indemnified for all reasonable and proper cargo rescue costs, as well as the costs needed to minimize loss and assess the damage.

For cargo insurance policies, base insurance rates are set for one transportation session, they are subject to insurance terms and cargo type. Depending on various risk factors (experience of the carrier, condition of the vehicles, regularity of carrier operation, personnel qualification, etc.) and distance of transportation, correction factors (scale-up or scale-down) may be applied to the base rates.