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Trade Risk Guaranty is an industry’s expert in U.S. importing solutions located in Bozeman Montana 59718

Annual Cargo Insurance from TRG Marine

What are the different types of shipping insurance coverage?
An all-risk cargo insurance policy will cover any physical loss/damage from any external cause. An all-risk policy will list any exclusions that are not covered, which can be added on to the policy as an additional clause. TRG Marine™ only writes all-risk annual policies because of the many benefits.

Named Perils
Named perils policies will list what is covered under the policy. These policies will not cover theft!
  • Free of Particular Average (FPA) - Covers stranding, sinking, burning, collision, fire, lightning, crash.
  • With Average (WA) - This is not a common type of policy anymore. It covers stranding, sinking, burning, collisions, heavy weather, fire, lightning, crashing.
Shipment - by - Shipment (Through a carrier)
If you are insuring your goods shipment-by-shipment, you are most likely not covered for:
  • Acts of God - e.g. heavy weather, earthquake, lightning, etc
  • Acts of war - acts of strikes, riots or civil commotions
  • Latent defects in the hull or machinery
  • Criminal acts or negligence by the master or crew
  • Unseaworthiness of the vessel
Seller owns the goods until they are loaded onto the vessel. Selling price includes all costs so far, plus the costs of the cargo insurance.

Learn about Terms of Sale (INCOTERMS)

A carrier’s insurance does not cover you. Their liability is insured, but they limit their liability by contract.

Make sure to double check the contract. You may find these limitations…

Ocean Carrier:
$500 per package or customary freight unit

International Air Carrier:
$9.07 per lb. or $20 per kilo

Domestic Air Carrier:
$0.50 per lb.
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Trade Risk Guaranty (TRG) Brokerage Services LLC is a licensed insurance agency, having agency agreements with Hanover Insurance Company of Worcester, Massachusetts and Hudson Insurance Company of New York, New York, both of which are insurance companies approved by the Department of the U.S. Treasury to issue U.S. Customs bonds.

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