Cost structure / standard tiers
Cargo insurance is typically priced as a percentage of declared cargo value, with rate variation based on commodity type and packaging.
| Cargo Type | Typical Premium Rate | Notes |
|---|---|---|
| General dry goods (palletized) | 0.3-0.5% of cargo value | Lowest risk category |
| Electronics/high-value goods | 0.5-1.0% of cargo value | Higher theft/damage risk |
| Fragile/glass/ceramics | 0.75-1.5% of cargo value | Breakage exclusions common without proper packing |
| Used/refurbished goods | 1.0-2.0% of cargo value | Often requires special underwriting |
| Minimum premium per shipment | $35-75 flat | Applies regardless of cargo value below threshold |
Deductibles typically range from $250-1,000 per claim, with lower deductibles raising the premium proportionally.
Risk mitigation / operational guidance
Do not rely on carrier liability limits — the $500/package COGSA cap applies per package or customary freight unit, not per container, and is rarely sufficient for modern cargo values. Purchase all-risk marine cargo insurance through a freight forwarder or directly from a marine underwriter, declaring the full commercial invoice value plus freight and insurance costs (CIF value) rather than just product cost. Document container condition with photos at origin loading and destination unloading to support claims involving visible damage. For high-value or fragile cargo, confirm packaging meets the insurer's stated requirements in advance, since non-compliant packing is a common basis for claim denial. File claims promptly — most policies require notice within a fixed window (often 3-14 days) of discovering damage.