Goods-in-transit (cargo) insurance for import-export

No, and this is the costliest mistake. The carrier's liability is capped by international conventions (Hamburg, Montreal, CMR) at a fixed amount per kilo, often far below the real value of the goods. Moreover, the carrier is exonerated in many cases (force majeure, inherent vice, shipper's fault). In a total loss of a container, you might recover only a fraction of your damage. Ad valorem insurance, by contrast, compensates the declared real value regardless of the carrier's fault, and then pursues the carrier itself. It is the only guarantee that genuinely protects the value of your goods.

The incoterm defines the precise point of the journey where risk passes from seller to buyer. Under EXW or FOB, risk shifts early: the buyer (often the Moroccan importer) must insure the goods from the port of departure. Under CIF or CIP, the seller provides insurance, but beware: the minimum cover level (Clauses C) is often insufficient, and the indemnity goes to the named beneficiary. Under DDP, the seller bears the risk to destination. The golden rule: clearly identify from which point YOU bear the risk, and insure exactly that segment, with no gap and no double insurance.

The voyage policy covers a single shipment end to end: ideal for a one-off send or an occasional importer. The open (floating) policy automatically covers all shipments over a period, on a pre-agreed rate; you declare each shipment (or a forecast turnover later reconciled), and every shipment is guaranteed without renegotiating. For a regular importer or exporter, the open policy is cheaper, safer (no forgotten shipment) and instantly provides the insurance certificate banks require. Wafir steers you to the formula suited to your flow frequency.

Standard international-trade practice is to insure the CIF value (cost of goods + insurance + freight) uplifted by 10%. That extra 10% covers incidental costs and expected margin (the "anticipated profit"), so that in a total loss you are reimbursed not only the purchase price but also the costs incurred. For a shipment invoiced at 100,000 MAD CIF, you therefore insure 110,000 MAD. Declaring an accurate value is essential: under-valuing exposes you to a proportionally reduced indemnity (average rule), while over-valuing only entitles you to the proven real value.

Speed determines your compensation. On delivery, inspect the goods and make precise, written reservations on the delivery note or transport document in the carrier's presence: "3 crushed cartons", "container open", etc. Vague reservations ("subject to unpacking") are often unenforceable. Confirm by registered letter to the carrier within the legal deadlines (generally 3 days for non-apparent damage in road transport). Notify your insurer immediately, keep the packaging and photographic evidence, and let the average commissioner it appoints intervene. This file of reservations and survey is what triggers compensation and the recourse against the responsible party.

Even in all-risks form (Clauses A), some exclusions are standard: inherent vice of the goods (a product that deteriorates on its own), defective or unsuitable packaging, mere delivery delay, insufficient declared value, and the insured's wilful misconduct. War and strikes risks are subject to a specific extension, essential on certain sensitive routes. Contamination, loss of market or contractual penalties are not covered. Read the exclusions carefully and pack well: a large share of claim refusals stem from packaging deemed inadequate for the chosen transport mode.