¿What is a cargo insurance indemnity?


To answer the question, what is an indemnity in cargo insurance, it is essential to have a clear concept about transport insurance, since the above is the most important section when it comes to not only protecting customers’ goods, but also compensating them economically in the event of damage or loss of the same.

Indemnity is basically one of the main characteristics of cargo insurance with which it seeks to economically replace the insured in the event of misfortunes with the goods, and is based on a series of points that are generally the following:

  • The compensation can never be greater than the damage suffered by the goods in transit.
  • The indemnity cannot be a way for the insurer to profit from an extra benefit to what was previously established.

Within this context, it is important to mention that this type of benefit does not apply in incidents in which the insured has presented fraudulent conduct, inefficient packaging has been used, there has been damage caused by mishandling or delay of the merchandise, among others.


Understanding what cargo insurance indemnity is 

Continuing with the topic, on what is an indemnity in cargo insurance, it is  important to know that although the duty of the insurer, the carrier and the insured, is to apply all possible measures to avoid damage or theft in the merchandise of customers who have already deposited their money and trust in these logistics services,  It is equally convenient to know the pieces of information necessary when making claims for compensation, which are:

  • The commercial invoice or, as is also known, a document supporting the value of the product.
  • A copy of the insurance policy or certificate.
  • Have the shipment document available.
  • Have a certificate that endorses the details and type of damage or theft present in the merchandise.

As an additional recommendation, it will always be useful to have at least one copy or receipt of the merchandise where there is a clear record of the claim made to the carrier after what happened.


Situations in which indemnity may come into effect

In addition to having answered the question “what is an indemnity in cargo insurance?” and having mentioned some of the key points on the subject, it is important to know the type of situations that can trigger compensation for the insured, such as: fire, explosions, lightning, accidental falls into the sea, damage during the loading or unloading process, robbery, among others.

Although implementing all the security measures to safeguard your investment and the trust of those who continue to turn to you is a responsibility that is given by default, cargo insurance, together with the advice of experts in logistics risks who make a perfect assessment of your specific needs, will certainly be your best option.



Transporte de Carga. Grupo AM

Seguro de mercancías. Tiba

Seguro de transporte. Universidad EAFIT

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