Cargo insurance

What is it?

Cargo insurance is a type of insurance that protects the cargo owner from losses that he may suffer from damage, theft, partial or total loss of cargo during transport, loading, unloading, transhipment and storage.

What is insured?

The insurance object is any type of cargo carried by own or hired transport, exported, imported or transported in the territory of Lithuania, transported by one or several vehicles by land, sea, or air.

What are the potential risks?

• vehicle accident, fire, explosion;
• the effect of natural forces;
• folding of the cargo or other kind of damage;
• theft, robbery;
• damage to the refrigeration unit;
• the act of third parties;
• damage to the ship by ice, stranding, drowning or overturning;
• loss of cargo, its flush from deck during a storm;
• forced release of cargo for rescue of the ship or cargo;
• other cases.