Cargo & Transportation Insurance
Cargo & Transportation Insurance
Protect Your Goods Around the World
J. Maxime Roy, Inc. helps businesses protect goods and merchandise against covered physical loss or damage while in transit, domestically and internationally, by ocean, air, truck, rail or multimodal transportation.
Discuss Your Cargo CoverageWhat Is Cargo Insurance?
Cargo insurance can protect goods and merchandise against covered physical loss or damage during the ordinary course of transit. Coverage may include ocean, air, truck and rail transportation and, depending on the policy structure, domestic and foreign inland transit and storage.
Coverage, terms and conditions vary by insurer and policy.
From Origin to Destination
Cargo insurance can provide warehouse-to-warehouse coverage, protecting your goods from the time they leave your facilities until they reach their final destination, subject to the policy terms and conditions and your responsibility under the terms of sale (Incoterms).
Who May Need Cargo Insurance?
A wide range of businesses can benefit from cargo insurance, including:
Importers & Exporters
Protect shipments of raw materials, components and finished goods moving across borders.
Manufacturers & Distributors
Protect goods while shipping to customers, between facilities or to overseas locations.
Wholesalers & Retailers
Help protect inventory and goods in transit to distribution centers and retail locations.
Freight Forwarders & Logistics Providers
Arrange cargo insurance for your shipments or add coverage for your own goods in transit.
Cargo Risks to Consider
Goods can be exposed to a variety of risks while in transit or in storage, including:
Physical Damage in Transit
From accidents, rough handling, vibration or other external causes.
Theft and Pilferage
Loss due to theft, pilferage or non-delivery.
Loading and Unloading Damage
Damage that occurs during proper loading or unloading operations.
Severe Weather and Water Damage
Loss or damage from storm, heavy weather, sinking or overboard.
General Average
You share extraordinary expenses intentionally incurred to save a vessel and its cargo.
Storage Exposure
Loss or damage while your goods are in warehouse or other storage, where covered by the policy.
Coverage Can Extend Beyond Ocean Transit
Cargo insurance can be structured to match your shipping and storage needs, such as:
International Ocean Transit
Protect goods shipped by sea anywhere in the world.
Air Transit
Coverage for goods shipped by air, including air freight and express shipments.
Domestic Transit
Coverage for shipments by truck or rail within the United States.
Foreign Inland Transit
Coverage for inland transit in foreign countries, where available.
Warehouse and Storage
Coverage for goods at intermediate locations, including warehouses.
Stock Throughput Policies
Can combine transit and inventory/storage coverage subject to policy terms.
Why Your Carrier's Liability May Not Be Enough
Common carriers (ocean, air, truck or rail) often have defenses and exemptions, as well as contractual or statutory limits on their liability for loss or damage. A shipper's own cargo insurance policy can provide broader first-party protection, subject to its terms and conditions.
Should You Have Your Own Cargo Policy?
If you ship goods regularly, it would likely cost less and be more convenient to maintain your own cargo insurance policy rather than purchasing insurance shipment-by-shipment through a freight forwarder or logistics provider. Your own policy can allow you to select the insurer, coverage terms, valuation, limits and deductibles that fit your business, while providing consistent coverage across shipments and freight forwarders. For companies with only occasional shipments, arranging insurance through a freight forwarder or logistics provider may be a practical and cost-effective alternative.
Access to Cargo Insurance Markets
JMR can explore coverage with leading cargo and marine insurers and specialty markets. The appropriate insurer and policy structure depend on the commodities, shipment values, origins and destinations, modes of transportation, storage exposures, loss history and required coverage.
Travelers
Offers marine and cargo insurance for domestic and international shipments.
Chubb
Provides cargo and marine insurance with a broad range of coverage options for global shipments.
Great American
Offers inland marine and cargo insurance for a variety of industries and shipment types.
Selected Specialty / Lloyd's Markets
Access to additional cargo and marine capacity through specialty insurers and Lloyd's.
Terms of Sale Matter
Your Incoterms and terms of sale (e.g., EXW, FCA, FOB, CIF, E, DAP) can determine when responsibility for loss or damage transfers between seller and buyer. JMR reviews how you buy and sell goods to help arrange cargo coverage that aligns with your risks and contractual responsibilities.
How JMR Works With You
A straightforward process to help you obtain the right cargo coverage.
Understand Your Shipping Operations
Learn about your products, shipping lanes and logistics.
Review Commodities & Values
Review the goods, values, packaging and routes.
Review Terms of Sale / Incoterms
Understand how you buy and sell goods and where risk transfers.
Identify Appropriate Markets
Approach markets that fit your risks and coverage needs.
Structure Coverage
Tailor limits, deductibles and the policy to your operations.
Ongoing Policy & Claims Support
Assist with policy servicing and help with a claim if a loss occurs.
Protect the Goods You Ship
Talk with JMR about how cargo insurance can help protect your products throughout the global supply chain.