Insurance Coverage & Limits

All-risk cargo insurance covers physical loss or damage to goods from external causes during the course of transit, from the moment the cargo is picked up until it is delivered and signed for. This includes damage from accidents, fire, theft, collision, derailment, vessel sinking, and general average events.

The default coverage limit per shipment is $50,000 (adjustable per shipment on request). Shipments with a declared value exceeding the default limit require additional coverage, which can be arranged at booking.

The following are excluded from all-risk cargo insurance coverage:

• Inherent vice or natural deterioration of the goods
• Inadequate or improper packing by the shipper
• Acts of war, terrorism, or military intervention
• Nuclear, radioactive, or biological contamination
• Delay, loss of market, or consequential losses
• Confiscation or seizure by government authority (other than customs)
• Insolvency or financial default of the carrier
• Wear and tear, ordinary breakage, or inherent defect

To declare a higher value for cargo exceeding the default coverage limit, provide the replacement value at the time of booking. The declared value determines the insurance premium and the maximum payout in the event of a claim. We recommend declaring the full replacement value of the cargo, including the cost of the goods and any shipping charges that would be incurred again in a re-shipment.

For shipments valued above $100,000, additional underwriter approval may be required. Contact us before booking to arrange enhanced coverage.

For shipments within the default coverage limit, no additional premium is charged — insurance is included in the freight rate. For declared values above the default limit, the additional premium is calculated as a percentage of the excess value, based on the cargo type, mode of transport, and route.

Cargo insurance and carrier liability are two separate sources of compensation:

• Cargo insurance is the primary source of compensation. It covers the declared value of the cargo up to the policy limit, regardless of fault.
• Carrier liability under the Carmack Amendment (US domestic) is limited to $25 per pound unless a higher declared value is agreed. Under the CMR Convention (international), liability is limited by weight. Carrier liability is secondary to cargo insurance.

Colivelo's claims team handles both insurance and carrier liability claims, so you deal with one team and one process. See our Claims Process & Terms for the full claims procedure.

Cargo insurance is underwritten by a rated insurance carrier. The underwriter details and policy number are available on the certificate of insurance issued for each shipment. To request a certificate of insurance, contact us at the time of booking.