What is the difference between All Risk and Total Loss coverage?
All Risk marine insurance covers any possible loss or damage ocurred to your cargo during the ocean transit: fire, water damage, theft, partial loss, breakage, etc. It is the most encompassing coverage available in the shipping industry. This type of insurance is recommended for most shipments: household goods, automobiles, electornics, retail products, etc. Total Loss coverage only applies to cases of complete loss, meaning that your whole shipment must be lost or destroyed for this coverage to apply. It will not cover any partial loss or damage. This type of insurance is recommended for idustrial products, bulk cargoes, heavy machinery, etc. Because of the limited covrage total loss is usually costs 50% less than All Risk.
