Freight Insurance
Delay Cargo Insurance: Get Covered in Minutes.
Insure against financial losses, business interruption, and consequential damages caused by delays.
Instant digital online quotes
3, 6 & 12 hour delay cover
Buy $2.5k to $250k in less than 60 seconds.
Claims settled in 48 hours
What is Freight Delay Insurance?
Cargo delay insurance protects time-critical shippers against business interruption costs as a result of delayed cargo. Delay claims are excluded from traditional insurance policies.
3 hour | 6 hour | 12 hour Delays
Freight Delay Insurance
What Delays Can Be Covered?
Insurance policies have historically excluded delays.
01/
Servere Weather
02/
Airport or Freight Terminal Shutdown
03/
Natural Disasters (Earth Quakes, Wildfires etc)
04/
FAA Regulatory and Airline Crew Restrictions
05/
Aircraft Equipment Breakdown
06/
Carrier Disruption and Bankruptcy
07/
Aircraft Fuel Shortages
08/
International Conflicts
Instant Cover up to $250,000
Get instant per-shipment cargo delay quotes via our partnership platform. AI-powered underwriting engine generates quotes in milliseconds.
Automated Claims
Automated claims settled within 48 hours with no manual intervention required delivering transparency and speed.
Pay-as-you-Go Cover
Lightning fast transactions via digital API integration delivering seamless access to pay-as-you-go coverage.
Protect Reputation
Delayed cargo cover empowers you to generate new businesses and increase clients’ retention.
Who Can Benefit
So who is a freight delay insurance policy for?
Airline Operators
Parts Stockists
Aircraft Lessors
Repair Station Operators (Part 145)
AOG & Time Critical Freight Forwarders
Original Equipment Manufacturers (OEMs)
Distributors
Out of Your Control – Cargo Delays!
Freight Delay Protection for Anything Over 12+ Hours Late
Protect your cash flow, contractual obligations and your reputation by being instantly compensated for any shipments that do not arrive to their destination in time.
Frustrated when shipments don’t arrive in time?
Sales taken a hit due to lost cargo?
Been unable to meet contractual obligations?
Risk Management
Delayed Cargo Insurance
Protect yourself today through Flycovr and remove financial risk and reduce reputational damage
$6 Trillion of goods and assets moved every year
62.1% of cargo flights are delayed each year
$50 Billion estimated financial loss due to logistics disruptions each year
Almost zero cargo in transit is insured against delay
Frequently Asked Questions about Cargo Delay Insurance
What is Cargo Delay Insurance and why do I need it?
Flycovr has partnered with a revolutionary AI-driven insurtech to deliver a unique global pay-as-you-go insurance solution for time critical freight. This is referred to as cargo delay or freight delay insurance. Even if you have already bought all-risk cargo coverage this policy acts as a complimentary additional layer of protection for the event that the goods do arrive but not in the required (or contracted) timeframe thus exposing your business to unforseen costs such as finanacial penalties, demurrage, restocking fees and storage for example.
How long does it take to get a quote?
You can get per-shipment and annualized cargo delay quotes via our digital online platform in seconds. The AI-driven underwriting engine generates cargo risk pricing in milliseconds. The only information required is the relevant flight details or air waybill tracking number and a cover limit selection and then you can get a quote or checkout in less than a minute.
Can I offer Flycovr’s Freight Delay Insurance to my customers?
Absolutely. Freight delay insurance is one of Flycovr’s core digital product offerings. Per-shipment and annualized cargo delay quotes are available via our digital online platform or via seamless API integration for commercial partners. Explore how help you unlock extra revenue from your platform by checking out our partnerships page.
Are there any disclaimers related to the policy?
Disclaimer: All insurance information is provided exclusively by Otonomi Insurance Services, LLC (“Insurance Services”).
What are the approved jurisdictions for the policy
Insurance Services is currently licensed as an insurance producer in the following U.S. states: AR, AZ, CO, DE, FL, GA, IL, IN, KY, MD, MA, MI, MN, MS, NH, NJ, NY, OH, PA, TN, TX, WA, and WI. This disclaimer will be updated upon receipt of additional state licenses.
Customers from outside those states should inquire with Flycovr/Otonomi as to the names of any licensed brokers or producers that can provide insurance-related information for its parametric cargo delay insurance program.
The product is also offered in the following jurisdictions on a non-admitted basis: Chile, India, Hong Kong, Mexico, Peru, and Turkey.
Frequently Asked Questions about Flycovr Ltd
Does Flycovr advise on insurances?
No, Flycovr Ltd, is an independent platform that is not regulated to advise on insurance by the Financial Conduct Authority. Flycovr acts as an introducer and connects customers with regulated advisers specific to your needs.
What does being “an introducer” mean and are Flycovr Ltd regulated by the Financial Conduct Authority?
Flycovr Ltd can obtain customer information and provide access to insurance products if the information is deemed suitable for that area of specialism for that regulated insurance adviser.
Under Chapter 5, of The Perimeter Guidance manual, within the FCA Handbook, Flycovr Ltd operates as an introducer or referrer, enabling the provision of information about a potential policyholder to a relevant insurer or an insurance intermediary. Our regulated and specialist broker partners will organise and underwrite all insurance policies. Flycovr Ltd does not provide or underwrite the insurance products purchased.
Who has access to my data?
Flycovr Ltd will have to provide the information provided by our customers to insurance advisers to be able to get you the correct advice required for the desired insurance products. Flycovr Ltd will not pass your information onto any other entities other than registered insurance providers within the Flycovr network.
Flycovr Cargo Delay
Pay-as-You-Go Cargo Delay Insurance
Cargo delays can cause major issues and losses for businesses, despite being totally out of your control! Supply chain disruptions can lead to inventory loss of value or cause certain sales to be left unfulfilled.
Sometimes even, a missed SLA or contractual obligation can have more severe consequences to your finances or long term relationships.
Let Flycovr ensure you are supported throughout, and maintain control of your own destiny.
Air freight is a fast and efficient method of transporting goods around the globe. The aviation supply chain relies heavily on the reliable delivery of such cargo and unfortunately, with over 52 million metric tons of goods each year being delivered, delays and issues are inevitable.
More significantly perhaps, is actually the value of the freight that is being transported by air makes up an incredible 35% of world trade value with IATA suggesting this makes up over $6.8 trillion worth of goods annually.
However, delays are inevitable and it is vital that you and your business, protect your commercial bottom line through delayed cargo solutions when there are so many possible factors that can cause delays.
There are also many parts of the air cargo process that are susceptible to delays, all through the process:
Origin Forwarder
Transport Carrier
Destination Forwarder
Origin Carrier
Destination Carrier
Cargo Delay Protection
Your Business Value and Reputation
Industry-wide cargo appears to have returned to pre-covid values and with so much of this being shipped via air cargo worldwide, and with all the different parties above involved, it is unfortunately inevitable that delays can and will occur.
It is therefore crucial that you protect yourselves from potential delays that can cause a number of consequences to your business value and reputation.
Sales taken a hit due to lost cargo?
Been unable to meet contractual obligations?
Could You Partner with Flycovr?
Leveraging cutting-edge technology & unparalleled industry expertise, flycovr transforms aviation insurance, delivering specialised coverage in less than 60 seconds.
Creating a more sustainable supply chain by redefining how insurance is bought and sold in our industry.
Flycovr aviation liability insurance
Partner with us – intergrate Flycovr into your platform
Aviation logistics freight insurance – Instant one-off insurance
Protect Your Business From Unexpected Delays
Buy instant time critical cover.
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
Pay-as-you-go coverage – Only pay for exactly what you need.
Protect stock and freight over land, air or sea
Full invoice settlement in 72 hours or less
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