What insurance coverage is standard for ocean freight of construction materials?

Marine cargo insurance for ocean freight is governed by the Institute Cargo Clauses, with three coverage levels: **ICC (A) - All Risks** (recommended for most construction materials) - Covers all risks of physical loss or damage except specifically excluded perils (war, strikes, inherent vice, wilful misconduct, delay, insufficient packing) - Best for: roofing sheets, glazing, aluminium profiles, finished hardware, electrical equipment, anything where surface damage matters **ICC (B) - Named Perils + extra coverage** - Covers fire, explosion, vessel sinking/grounding, collision, jettison, washing overboard, water damage to hold/container, earthquake, volcanic eruption, lightning - Best for: bulk steel where minor surface marks are acceptable **ICC (C) - Named Perils only** (basic CIF cover) - Covers only major casualties: fire, sinking, collision, jettison, total loss - Does **not** cover theft, partial damage, or water damage - Generally too narrow for most construction shipments **Add-ons worth considering:** - **War & Strikes** - usually a small extra premium; important on routes via the Red Sea or politically unstable regions - **Theft, Pilferage & Non-Delivery (TPND)** - already in ICC (A), but explicitly check on (B) and (C) - **Rejection Insurance** - covers loss if goods are rejected by destination authorities for compliance failure (relevant for SONCAP/PVoC/SABS regimes) **Typical premium ranges:** - ICC (A) all-risks: 0.20-0.45% of CIF value - ICC (B): 0.12-0.25% - ICC (C): 0.08-0.15% **Practical tips:** - If buying CIF, ask the seller which clauses are in their policy - many default to (C) - Buying insurance locally in the destination country often results in faster claim settlement than claiming against an overseas policy - For high-value containers (over USD 50,000), declare the actual value - under-declaration limits payout - Take photos of the container seal at gate-out and unloading; damaged seals are key evidence for theft claims