Insurance Branches

Transportation Insurance

Transportation Insurance covers the risks that can occur during transportation of cargo, and compensates the owner against any "disasters".

Transportation Insurance covers goods transported in or out of Greece and with a very low cost you can insure your cargo whatever its value.

With transportation insurance there are three basic coverage categories (insurance clauses), which insure your merchandises:

  • Clause C: This covers damage from impact, collision, capsizing, fire, explosion, sinking or stranding of the ship, general average sacrifice, estuary sea freight as well as participation in the costs of general average and salvage.
  • Clause B: Covers clause C damages with additional coverage for earthquake, volcano eruption, lightning strike, merchandise damages due to waves, water flood (sea, drinking or lake), lost goods during loading - unloading of the ship.
  • Clause A: Covers all risks during transportation (covers Clause B and C damages with additional protection against loss due to theft, piracy and malicious acts) except those specifically excluded from the contract. The main exceptions of the contract are, customer mischief, natural degradation of the cargo, product defects, warfare, terrorist acts, delays, etc.

Additional coverages can be negotiated to cover damages due to warfare, confiscation, abandoned mines, (only for marine transportation), losses due to strikes or terrorism. Special clauses can also cover a number of specialized products, such as frozen meat, petroleum products, coal, timber, bottles, etc.