Single Trip Cargo Insurance

Single Trip Cargo Insurance offers protection of your cargo on a specific trip from point A to B. Single trip insurance safeguards against losses or damages arising from accidents, theft, natural disasters, and other unexpected incidents during transport. At NITIC, coverage is customized to address the specific requirements of your cargo, providing full value coverage and peace of mind throughout the transit process.

Single Trip Cargo Insurance Highlights

  • Can be purchased by the carrier or the shipper
  • Many commodities covered
  • Policy can be bound in as little as ten minutes

Single Trip Cargo Insurance Pricing

Value of load
Price Per Trip
$25,000
$200.00
$50,000
$300.00
$75,000
$400.00
$100,000
$500.00

What is Single Trip Cargo Insurance?

Single Trip Cargo Insurance, also known as trip transit insurance, provides coverage for your goods during a single journey. It is ideal for businesses that do not frequently ship goods but require protection against loss or damage for the occasional shipment.

Key Features of Single Trip Cargo Insurance

  • Customizable Coverage: Tailor your policy to the specific needs of your cargo and trip.
  • Comprehensive Protection: Covers risks of loss or damage from external causes during transit.
  • Flexible Terms: Coverage can be purchased on a per-trip basis, without long-term commitments.

Benefits of Single Trip Cargo Insurance

  • Risk Management: Minimize financial exposure from unforeseen events during transit.
  • Cost-Effective: Only pay for the coverage you need, when you need it.
  • Peace of Mind: Focus on your core business without worrying about the risks associated with transporting goods.

Who Needs Single Trip Cargo Insurance

  • Businesses making infrequent shipments.
  • Individuals sending high-value items.
  • Companies testing new supply chain routes or partners.

Single Trip Cargo Insurance Coverage

All-Risk Coverage

Our All-Risk Coverage is designed to provide broad protection for your cargo, safeguarding it against virtually all physical loss or damage from external causes. This comprehensive coverage ensures that unless specifically excluded, any damage or loss during the insured trip is covered. Standard exclusions typically include losses from improper packing, inherent vice (natural decay), and customary losses like wear and tear or leakage. This coverage is ideal for clients seeking extensive protection to mitigate diverse risks associated with cargo transportation.

Named Perils Coverage

For those requiring specific, targeted coverage, our Named Perils Coverage offers protection against pre-defined risks. This policy covers only those perils explicitly listed in the contract, such as:

  • Theft: Ensures compensation in the event of burglary or robbery during transit.
  • Collision: Covers damages to cargo resulting from a collision involving the transporting vehicle.
  • Natural Disasters: Protects against losses from natural events like earthquakes, floods, or storms. This option is cost-effective for clients who want to insure their cargo against the most likely risks during transit, based on their unique understanding of the routes and risks involved.

Additional Options

To further enhance your cargo insurance, we offer several additional options that can be tailored to your specific needs:

  • Loading/Unloading Coverage: Protects your cargo against damage that might occur while it is being loaded onto or unloaded from the conveyance. This is particularly crucial for delicate or heavy goods where the risk of damage during handling is higher.
  • Theft During Transit: While named perils coverage includes theft, you can opt for this additional safeguard to cover scenarios like pilferage or non-delivery.
  • Temporary Storage Coverage: If your cargo needs to be stored at any point during transit, this coverage ensures it remains protected against loss or damage during the storage period. This is vital for long-distance or international shipments requiring interim stops.

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