Voluntary cargo insurance

The voluntary cargo insurance involves indemnity to the Insured for cargo loss, shortage and/or damage (injury) as a result of any accidental and likely events.

Insurance risks:

Insured events are the cargo loss, shortage and/ or damage (injury) as a result of any accidental and likely events.

Insurance contract may be entered into under the following conditions:

  1. “А” — “with liability for all risks”
    Insurance contract executed under “A” conditions (“with liability for all risks”) involves the indemnity against:

    • any and all loss of damage or loss of all or part of the goods occurred for any reason,
    • costs and losses arising from general average. According to these Regulations, the general average refers to losses incurred as a result of deliberate intelligent action in extreme conditions taken to rescue vehicles, freight, cargoes from the common danger. Losses of general average are distributed among all the participants of consignment (owners of the vehicle, cargo, freight).
    • all necessary and reasonable expenses (confirmed by relevant documents) incurred to rescue cargo and reduce loss.
  2. “В” — “with liability for particular average”
    According to the insurance contract executed under “B” conditions (“with liability for particular average”), all losses shall be indemnified arising from damage or loss of all or part of goods due to:

    • fire or explosion;
    • shipwreck, stranding, overturning a sea or river vessel;
    • overturning or derailing vehicle during the ground transportation;―-
    • vessel or other vehicle collision or contact with other object, excluding water;
    • cargo unloading at the port-refuge;
    • expenses, losses resulting from particular average;
    • earthquake, volcanic eruption or lightning;
    • washing overboard;
    • sea, lake or river water leakage into a vehicle, cargo container or storage;
    • total loss of goods or their parts as a result of falling overboard in loading or unloading.

    Also, all necessary and reasonable expenses (confirmed by relevant documents) incurred to rescue cargo and reduce loss shall be indemnified.

  3. “С” — “without responsibility for damage unless the crash”
    According to the insurance contract executed under “C” conditions (“without liability for damage, unless the crash”), losses shall be indemnified arising from damage or loss of all or part of goods caused by the crash that occurred as a result of:

    • shipwreck, stranding, overturning a sea or river vessel;
    • overturning or derailing vehicle during the ground transportation;
    • vessel or other vehicle collision or contact with other object, excluding water.

    Also, all necessary and reasonable expenses (confirmed by relevant documents) incurred to rescue cargo and reduce loss shall be indemnified.

Insurance premium

The insurance premium is determined based on the size of insured sum and tariff rates. The insurance premium depends on the type of vehicle insurance cover options, the type and nature of cargo, route and other details specifying the extent of the insurance risk.

Cargo insurance tariff rates by contract type

Contract type Rate (as % of insurance amount)
minimum base maximum
«A»: with liability for all risks 0,006 0,261 3,810
«B»: with liability for particular average 0,005 0,237 3,463
«C»: without responsibility for damage unless the crash 0,003 0,142 2,078

Tariff rates under “A” cargo insurance contract

Transport type Rate (as % of insurance amount)
minimum base maximum
Road and Railway 0,006 0,261 3,810
Sea and River 0,005 0,208 3,048
Air and Pipeline 0,004 0,182 2,667

Tariff rates under “B” cargo insurance contract

Transport type Rate (as % of insurance amount)
minimum base maximum
Road and Railway 0,005 0,237 3,463
Sea and River 0,004 0,189 2,771
Air and Pipeline 0,004 0,166 2,424

Tariff rates under “C” cargo insurance contract

Transport type Rate (as % of insurance amount)
minimum base maximum
Road and Railway 0,003 0,142 2,078
Sea and River 0,003 0,114 1,662
Air and Pipeline 0,002 0,099 1,455

Deductible

Insurance contract specifies a deductible, which type and amount are determined by the agreement between the Parties and set either a percentage of the insured sum, or in absolute terms.