It is set by the terms of sale in your contract, usually the Incoterms rule the parties agreed to. Different rules pass risk at different points, for example at the origin dock, on loading, or on arrival, so the contract is what determines where your exposure begins and ends. Reading the contract is a question for your counsel or trade advisor. What we do is make sure the cargo coverage matches whatever the contract says, so there is no stretch of the journey where you are carrying risk without insurance behind it. Send us the terms once they are settled and we will line the coverage up to them.
Related FAQs
Only if you own or operate vessels. Businesses that only ship goods generally need ocean cargo, not hull.
Usually not. Standard property and inland marine typically exclude ocean transit, which is what ocean marine addresses.
Ocean cargo covers goods in ocean or air transit; stock throughput extends across the full supply chain, including storage at your and third-party locations. Many importers use stock throughput ...
Ready to get started?
Talk to an advisor or request a quote. It takes about five minutes, with no commitment. Be insurance wise.
