Freight Cover
Cargo Insurance Coverage: Annual & Short-Term Multi-Shipment
A-rated insurance underwritten by Lloyds of London

Annual cargo insurance coverage

One policy for a schedule of shipments

Pay-as-you-go one-off transit cover

Automated claims for all types purchased

“60% of aircraft parts & tools traveling the globe are underinsured or shipped without any cargo insurance at all…”
… Until now! Access cost-effective market leading insurance for domestic and international cargo in minutes – thanks to Flycovr’s digital-first approach.
Flycovr
Who is Cargo Insurance Coverage For?

Aircraft Lessors

Original Equipment Manufacturers (OEM’s)

E-Commerce & Trade Platforms

Aftermarket Service Providers

Commercial Airline Operators

Freight Forwarders & Shippers Interest
Instant Cargo Insurance Coverage
Available instantly, simply purchase pay-as-you-go transit insurance from anywhere, anytime through Flycovr.
Time to Quote: 45 Seconds
Coverage Limit: $2 million



Annual Cargo Insurance
With Flycovr, frequent shippers can access an annual cargo insurance policy featuring All-Risk coverage and comprehensive benefits.
Time to quote: 2 Hours
Coverage limit $10 million



Multiple Shipment Insurance
Have a schedule of shipments from a breakdown project? You can fulfill your full schedule of part shipments over multiple journeys with one insurance policy.
Time to quote: 5 minutes
Coverage limit: $10 million



Transit and Stock Throughput
Shipping domestically and internationally, whilst also storing cargo in between destinations – Flycovr can access insurance to cover locations and goods in transit.
Time to quote: 5 minutes
Coverage limit: $10 million per location and goods in transit



Flycovr cargo insurance
What Can be Insured?
01/
Consumables

02/
Expendables

03/
Rotables

04/
Major Assets


Flycovr
Understanding Cargo Insurance Coverage

Do you buy, sell, repair, carry or store aircraft parts?

Do you have it, do you need it, what is it?

Do you import or export goods in the UK or abroad?

Do you transport goods via road, air or water?

Do you warehouse stock or transport goods between locations?

Are you looking into different types of insurance that your business may need?
You may have questions, such as:

What is cargo insurance coverage?

Does my business need cargo coverage insurance if I already have carrier liability?

Who and what does cargo insurance coverage cover?

How much does commercial cargo insurance cost?

What different types of cargo insurance coverage are there?

What is annual cargo insurance?

Is cargo insurance coverage the same as marine cargo coverage?

Does it have small print like all others and is it too expensive to claim?


Different Kinds of Cargo Insurance Coverage
Cargo insurance goes by many different names but its primary purpose is to protect against a shipment being lost, delayed or damaged during transportation.
As goods are shipped via various different routes and means of transit, the different names usually reflect this, although there are sometimes subtle differences. For example, goods transported via airplane, truck, or ship, are all subject to different risks. If your cargo has to make a long journey on a ship, then ocean cargo insurance coverage may be required.
Here are some of the different types of cargo insurance you may encounter:

Marine cargo insurance

Land cargo insurance

Air cargo insurance

Multimodal cargo insurance

Commercial cargo insurance coverage
Why Get Cargo Insurance Through Flycovr?
Your go-to insurtech solution addressing the worldwide underinsurance challenge

Great coverage

Financial protection

Simple claims process

Underwritten by Lloyds of London
Flycovr cargo insurance
What Does It Cover?
01/
Full ATA Chapter & Incoterm Coverage

02/
Door-to-Door Protection (DDP)

03/
Transit via Land, Air or Sea

04/
Any Aircraft Parts Instantly Up to $2million

05/
All High Valued Assets Such as Engines

06/
All-Risk Not Covered by Standard Carriers (FedEx etc)

07/
Physical Loss or Damage

08/
Loading and Unloading Damage

09/
Acts of God & Civil Commotion Risks

010/
Employee Theft

What is the difference
Annual vs Per-Shipment Cargo Insurance
Another important cargo insurance coverage distinction is between ‘per-shipment’ and ‘annual’ coverage. If you make multiple shipments per year, you may benefit from an annual insurance policy . The main differences between these options are:

Per-shipment cargo insurance
This option covers your cargo for an individual shipment. This is ideal for one-off shipments or if you only make occasional shipments.
It can be very cost-effective and flexible because you pay only for coverage for the single shipment. Costs are calculated based on the individual shipment.

Multiple Shipment Cover
Sometimes referred to as Shipper’s Interest, this cover allows for a project of global shipments to be covered with one premium and policy. For example you have a few shipments to make over a 6 week period, to various destinations. One-off per-shipment cover could definitely be used for each one, but this would be a hassle. An annual policy would be overzealous. Therefore, this policy allows for cover for your bespoke needs over a short period of time.

Annual Cargo Insurance
An annual policy can work out cheaper if you transport a large volume of freight in a year. Insuring each shipment individually could work out a lot more expensive and time-consuming if you transport a lot of goods throughout the year.
Through Flycovr you have the option of an annual cargo insurance policy with All-Risk coverage and all the benefits, for a frequent shipper of goods, which that policy brings.
Factors that will affect your annual cover include:
- The type of goods you are shipping
- The value of the cargo
- The method of transportation eg: via air, sea, land
- Are the shipments always the same value throughout the year?
- Where are the shipments going to/coming from?
Need a one or two-month option?
There is also a solution for freight forwarders and shippers who require a monthly or short-term cover option. Especially suited to clients who make 10+ shipments per month, you can get A-rated, all-risk coverage, up to $10 million for domestic and international shipments.
Get in touch for more information and we’ll be happy to help you find the best policy to match your unique needs.
Get Annual & Short-Term Multi-Shipment Coverage in Minutes
A-rated insurance underwritten by Lloyds of London
Is Cargo Insurance Coverage Necessary?
It’s easy to think that having carrier liability insurance is all the protection you need. Shockingly, according to Loadsure, an estimated 60-90% of cargo being transported today is underinsured!
What does this mean?
It could mean several things – none of them good!

Loss of money
If you are shipping valuable goods and they are not covered adequately, you will find yourself at a financial loss when you attempt to make an insurance claim.

Loss of reputation
If your cargo is damaged or lost in transit, your business reputation can be severely damaged. Having the correct cargo insurance coverage can help you recover the loss financially and therefore have the funds to resolve the issue more quickly, thus repairing your reputation with your customers.

Legal action
To make matters worse, you may find yourself facing legal action if you fail to deliver valuable or crucial goods when and where they are needed. Having cargo insurance not only protects you financially in a worst-case scenario, it also indicates that your business is prepared. Many things are outside of our control when shipping goods, but thinking ahead and being fully insured goes a long way if things do go awry.
Underinsured
Why Are Many Businesses Underinsured?
There are several reasons why so much cargo is inadequately covered. The main reason is that many insurance companies make cargo insurance unnecessarily complicated.
Some businesses don’t have adequate cargo insurance coverage due to:
01/
Expensive premiums

02/
Think they are covered already

03/
Complicated claims process


Costs:
With some insurance companies, it can seem like it is so expensive to take out cargo insurance that it’s not worth the expense. Unfortunately, the ‘hope for the best’ approach can have a devastating effect on your business – you also need to ‘plan for the worst’.

Mistaken belief that you are covered already:
If you think that standard insurance has adequately covered your cargo you may be in for a rude awakening if your cargo is lost or damaged. Oftentimes the particular mishaps that befall your shipment are not covered at all by the insurance you have – this can be quite a shock when you try to make a claim.

Complicated claims process
The perception that making a claim is a difficult and lengthy process can be another barrier to a business taking out insurance in the first place. This can of course be a costly mistake if your cargo is lost or damaged in transit.
Customers are therefore either put off by the seeming expense and complexity of cargo insurance coverage and/or making a claim, or a business does take out insurance only to realise, too late, that they are not fully covered when disaster strikes.
There has to be a better way – and there is:

There is a better way
Why Choose Flycovr for Cargo Insurance Coverage?
With Flycovr, we provide cargo insurance to suit you. We understand our customer’s needs very well and we help them to obtain cargo insurance for the modern world of goods transportation. This means; quick, easy and comprehensive coverage:

All-Risk Global Cargo Cover
This means domestic and international coverage for your cargo, door-to-door. Get cover for things that are not generally covered by standard liability insurers (excluding any sanctions or exclusions). Our worldwide coverage even includes civil uprisings, war, strike action, terrorism, ‘acts of God’ and other risks that are usually hard to insure against.

One-Click Insurance Cover
Why complicate things? Get the cargo insurance solution that is hands down the simplest in the market. Powered by AI and automation, you have near-instant coverage – quick and easy! You will typically be able to obtain a quote in about 40 seconds (or less).

Pay-as-you-go
Insurance for any shipments up to $2 million in under a minute, or with one simple annual policy, or even a monthly policy if that suits your needs best.
Not sure what you need? Ask one of our friendly team:


Annual Insurance Option

Cheaper than you’d think insurance
Using AI dynamically costed pricing allows you to obtain the cheapest insurance on the market. This digital pricing system can see you getting prices between 0.01% and 0.85% of the shipment value – making it on average 80% cheaper than with other insurers.

Flexible payment terms
Payment options that suit your business – pay annually, monthly or quarterly.

Documentation made easy
Our digitized system for intaking and issuing documents means a faster and more convenient method of dealing with pesky paperwork. It also means easy visibility and transparency with regards to your account history.

Fast claims process
Our claims system is quick and easy – you can make a claim via our digital portal and receive payment within 72 hours – simple!
Data-driven pricing
How Much Does Commercial Cargo Insurance Cost?
Costs can vary according to the insurer and several factors can make a difference to the price, including:
Value of the goods
The type of cargo and its value can affect the price of the insurance. Some cargo may even be so valuable (or dangerous) that it is difficult to insure.
Amount of cover
The level of cargo insurance coverage you require will generally affect the price.
Destination country
Where are the goods being sent to? The destination, as well as the route taken, can affect the cost to insure the cargo.
Method of transportation
Cargo is generally transported via road, sea, or air. Each mode of transport has its own pros and cons and the insurance costs can vary based on this too.
Cargo Insurance Coverage in the Global Aviation Supply Chain
The aviation supply chain is very underinsured, with an estimated 60% of US aircraft freight alone being underinsured.
Estimated 60% of US aircraft freight alone being underinsured.
We’ve already covered some of the main reasons for this shocking statistic; aviation insurance can seem complex and expensive and there is a lack of knowledge in the supply chain which makes freight insurance in particular inaccessible.
The importance of moving shipments around the globe securely cannot be overstated. The aviation supply chain is heavily reliant on aftermarket service providers who make, supply, repair and trade aircraft parts.
Particularly specific to this industry are aircraft parts which are valuable, parts which may have a low financial value but are nonetheless critical, and of course time sensitivity – delay often means more expense!
When you factor in these crucial elements, not being adequately insured makes no sense. Cargo insurance coverage helps to eliminate or reduce financial and reputation risk.
If you could get all-risk shipment coverage in a matter of seconds, recovered to the value of the invoice, and at a fraction of the cost.
Why wouldn’t you? It’s really a no-brainer!

Get a quote in a matter of minutes

Cover Air, Land or Sea through Flycovr

No paperwork, just insurance and ship

A-rated insurance and automated claims
Cargo Insurance Coverage – What Is Covered?
Cargo insurance through Flycovr gives you:

Global door-to-door insurance

All-Risk insurance

Full ATA Chapter coverage

Insurance up to $2 million on aircraft parts

Insurance on high-value parts such as aircraft engines

Protection from damage or loss
including from loading and unloading, general average, civil disturbances, bad weather, employee theft and more. We cover many things that standard carriers (such as FedEx) don’t, for example, “acts of God”, terrorism, war, employee strikes, and more

Detail of the cover
What Isn’t Covered by Cargo Insurance?
Some things are not typically covered by cargo insurance, such as:
- Damage or loss due to inadequate packaging
- Infestation or spoilage
- Deliberate damage by the insurer
- Pre-existing, flawed goods
- Vice/criminality/illegal goods
- Loss of value due to the market itself
- Leakage, wear and tear, loss of volume or weight
In addition, we have a list of excluded goods (this is a non-exhaustive list):
- Commodities, such as soybeans, fruit, cereals, rice, oil, gas, precious metals, iron ore
- Bulk liquids
- Live animals or plants
- Luxury goods including furs, jewellery, perfume, art, antiques, tobacco
- Technology goods such as digital cameras, memory chips, photo sticks, mobile phones, etc
- Cash
- Bullion
- Credit and debit cards
- Hazardous materials including firearms, explosive materials, fuel
- Biological materials used in live science or medical, such as blood
- Narcotics and other pharmaceuticals
See the complete list of exclusions here
After following our comprehensive prompts, adding in all the information needed, you can review your claim fully before hitting the submit button.
It’s as easy as that!
Do I need more cover?
If I Have Carrier Liability Insurance, Do I Need Cargo Insurance Coverage?
Carrier liability insurance is a basic type of insurance which offers some protection but has severe limitations. There is an important distinction too between carrier insurance and cargo insurance.

Carrier liability insurance
Protects the carrier from claims made against it due to negligence. It also covers any fraudulent claims made against damaged or missing goods. The carrier’s liability and compensation are usually limited by the weight of the cargo (not good if your cargo is important or valuable but lightweight). Typically, the shipper has to provide evidence that the carrier is responsible for the damage or loss of the cargo.

Cargo insurance
is intended to insure against goods from being damaged, lost or stolen while in transit. It is designed to reimburse the insured party for the full value of the lost, damaged or stolen goods. You only have to show that the loss or damage happened while being transported.
Conclusion
A Reputational & Financial Shield
Although considered a somewhat complex subject, cargo insurance coverage needn’t be. Here at Flycovr, we understand the ins and outs of cargo insurance, in particular insurance in the global aviation supply chain.
Have you ever been stung by an insurance policy that hasn’t covered you effectively, or encountered an overly complicated claims process that has you pulling your hair out? We understand the frustration and we have a solution:


One-Click global door-to-door insurance

Pay-as-you-go insurance for any shipments up to $2 million

Underwritten to the true value of the cargo, not weight

All-Risk, domestic and international coverage in seconds

Cover even for typically hard-to-insure events

A-rated insurance underwritten by Lloyds of London

Cost-effective pricing through real-time data, often as low as 0.01% of the cargo value

Easily renew or recoup premiums

Accelerated settlements through our claims portal
When you factor all this in, and consider the alternative, it’s an easy decision. We offer the smart cargo insurance coverage that you want and need. Contact us and our friendly team will be happy to help get you started.
All-risk shipment coverage quotes in seconds.
All-Risk Global Cargo Cover
A-rated insurance solutions meticulously crafted by aviation experts exclusively for the aviation industry.

A-Rated all risk quotes in 60 seconds

Only pay for exactly what you need.

Protect stock & freight over land, air or sea

Full invoice settlement in 72 hours or less
