Cargo insurance
SIA “RITLOGISTIKA” not only carries out various types of local and international cargo transportation but also provides various logistics services. To protect our customers as much as possible from potential risks during transportation, in addition to the company’s valid CMR insurance, we recommend additional cargo insurance for valuable cargo. Ensuring the transported cargo at its total value is essential in cases where the damages caused by damage exceed the civil liability limit of the carrier specified in the CMR Convention, which protects against possible financial losses if the cargo or the goods in the cargo are damaged.
What is covered by a cargo insurance policy?
The purchased or contracted cargo insurance policy allows the cargo owner to avoid financial losses that may occur in the event of cargo damage at any stage of the transportation route.
SIA “RITLOGISTIKA” recommends taking out cargo insurance for local and international transport at its total value to protect customers and the contents or products of their transported cargo from various types of damage and the risk of cargo loss.
- Cargo theft or hijacking.
- Cargo vandalism.
- An accident and/or explosion has occurred.
- Losses caused by natural disasters.
- Fire damage and/or fire accident.
According to the insurance amplitude and coverage of the risks offered by the insurance policy, the chosen cargo insurance policy covers financial losses. It protects against risks that occur during cargo transportation, including cargo loading, unloading, transhipment, transportation and storage.
Apply for cargo insurance and receive a personalized offer!
Advantages of cargo insurance
Cargo insurance includes several benefits that protect the owner of the cargo or goods during the entire transportation and stages of the transportation (including transhipment and storage) against the potential risks of man, as well as natural elements, which can cause damage to the cargo or goods, as well as the loss of the cargo, regardless of the chosen mode of freight transportation (for example, when carrying out air, sea, road or rail freight transportation).
Reduced risks
Getting acquainted with the specifics of the cargo and the route planned for the cargo transportation, SIA “RITLOGISTIKA” helps to choose the most rational and appropriate cargo insurance, evaluating and reducing all risks that could threaten the execution of safe cargo transportation.
Support team
SIA “RITLOGISTIKA” takes care of a personal approach to each client, providing a company or an individual with an individual transport manager who provides informative and professional support on all logistics and cargo insurance issues.
Quick solutions
Saving our customers’ precious time, SIA “RITLOGISTIKA” provides remote consultations on issues of interest to find optimal solutions for various cargo insurance options quickly.
CMR insurance for carriers
The Agreement on the International Carriage of Goods by Road (CMR), based on the Geneva Convention signed in 1956, regulates the carrier’s civil liability for the carriage of goods between two countries where at least one of the countries has concluded this Agreement. CMR insurance determines the amount of compensation that protects against possible financial losses in case of cargo damage.
When performing services related to road transportation of goods and cargo, the civil liability of the carrier may arise in several cases, if during transportation:
- A traffic accident occurs, as a result of which the cargo in the road transport is damaged or breaks down due to the sudden braking of the vehicle.
- Cargo delivery deadlines are not met if this is caused by objective reasons (for example, blocked road traffic (landslide) or cancelled ferry).
- The cargo is damaged in the event of damage to the equipment maintaining the thermal regime (for example, the frozen product melts).
- Cargo theft or hijacking is in progress.
- Losses occur due to the carrier’s fault or error (error in the transport route, improperly loaded/unloaded or secured cargo).
- And in the event of other cases that damage cargo or goods during transportation.
The company SIA “RITLOGISTIKA” (founded in 2003), as well as the company “RITLOGISTIKA” OÜ, registered in Estonia (founded in 2017), have a civil liability CMR settlement within the scope of the carrier’s responsibility defined in the Convention, which provides several benefits and security for both us and for the carrier, as well as our customers – as cargo owners.
CMR insurance provides financial compensation for damages incurred during transportation. Moreover, compensation for damages is paid out in the shortest possible time.
Cargo insurance frequently asked questions
By insuring the cargo or goods at their full value, the cargo owner obtains financial protection during transportation against various foreseeable and unforeseen losses or possible damage to the cargo, which provides the cargo owner with compensation for the value of the insured cargo, for example, in case of cargo theft.
The cost of a cargo or goods insurance policy depends on the specific business sector, the specific characteristics of the cargo or transportation and the associated risks that may occur during transportation. It should be noted that cargo insurance costs are directly affected by the full cargo and insurance value.
Cargo insurance protects the cargo owner from financial losses related to cargo damage in the event of a vehicle accident and cargo vandalism, cargo loss, theft, natural disasters, or various types of damage caused by fire. The insurance also protects against cargo damage caused by careless behaviour or other specific risks, as agreed.
Different types of cargo insurance policies and disclaimers govern the risks included in the policy and their coverage. The transport managers of SIA “RITLOGISTIKA” competently navigate the wide range of insurance policies and, for cross-border cargo transportation, recommend cooperation with insurance companies that offer international insurance policies, the insurance coverage of which is valid worldwide.
The terms of the insurance contract differ for different insurance companies. Evaluating the specifics of the cargo and the regularity of the transportation, SIA “RITLOGISTIKA” helps its customers choose cargo transportation insurance terms, depending on whether the customer wants to conclude an insurance contract for a one-time transportation or cargo transportation for a more extended period, for example, for six months or up to 12 months.
Apply for a consultation
Contact the knowledgeable transport managers of SIA “RITLOGISTIKA” to immediately receive professional advice! By getting acquainted with the complete information about the current transportation and learning about your wishes, we can find and offer the most successful solutions to the cargo insurance questions you are interested in.
