Declared Value Coverage

Declared Value Coverage, also known as cargo insurance or shipment insurance, is a type of insurance that protects the value of goods being transported against loss, damage, theft, or other risks during transit. When arranging for shipping services, the shipper or cargo owner can declare the value of the goods to be transported, and in exchange, they pay a premium to an insurance provider.  

The insurance coverage typically extends from the time the goods are picked up from the shipper’s location to the time they are delivered to the consignee. In the event of a covered loss or damage during transit, the insurance provider compensates the cargo owner for the declared value, helping them recover the financial loss associated with the damaged or lost goods.