Container Transport Insurance: Coverage Selection, Insurance Process, and Claims Guide

1. Three Main Types of Coverage

Coverage Type	Scope of Coverage	Recommendation
FPA (Free from Particular Average)	Covers total loss and general average only	❌ Not recommended
WPA (With Particular Average)	FPA + partial loss	🟡 Acceptable
ALL RISKS	WPA + general external risks (theft, rain damage, breakage, etc.)	✅ Most recommended

Additional Risks

Additional coverage can be purchased for: Theft, Pilferage and Non-Delivery (TPND), Fresh Water & Rain Damage, Clash & Breakage, Moisture & Heat Damage, and Package Breakage.

2. Premium Calculation

Premium = CIF Value × 110% × Premium Rate
Example: Cargo value $50,000, Premium rate 0.25%
Premium = $50,000 × 110% × 0.25% = $137.50

3. Claims Process

Step	Action	Time Limit
① Preserve On-Site Evidence	Take photos/videos; keep cargo in its original condition	Immediately
② Notify Relevant Parties	Notify the carrier and insurance company	Within 3 days of taking delivery
③ Apply for Damage Survey	Third-party agency (e.g., SGS) issues a survey report	7–14 days
④ Collect Claim Documents	Policy / Bill of Lading / Invoice / Survey Report	Within 14 days
⑤ Submit Claim	Submit complete documentation to insurance company	Within 30 days

Data Note: Premium rates and insurance clauses are general industry reference values; actual terms are subject to the insurance company's quotation. Data current as of July 2026.

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