CMR Insurance
Key characteristics
- Validity per transport/journey
- Validity per time period
- National and international coverage
CMR insurance – insurance for transported goods and carriers – is an indispensable and mandatory product by law in the case of domestic and international transport. The CMR policy has as beneficiary the carrier, as a carrier, who is insured the responsibility during the transport, for the vehicles stipulated in the insurance contract.
The basic principles of the CMR policy are the same from one insurer to another, but the insurance conditions are different, depending on the internal policies within each company. Therefore, understanding the contractual clauses and selecting the right product are essential.
The object of the CMR insurance is the liability of the companies that carry out national or international transports with vehicles (which are expressly mentioned in the insurance policy), for the damage or destruction of the goods entrusted for transport.
The CMR insurance covers risks related to the total, partial loss or damage of the cargo, as well as the delay of the transport, if it is found that it caused a damage.
The liability of the carrier starts from the receipt of the goods until its delivery and is responsible for the total, partial loss or damage of the transported products as well as for exceeding the delivery term.
The CMR policy covers risks related to the total, partial loss or damage of the cargo, as well as the delay of the transport, if it is found that it caused a damage.
The liability of the carrier starts from the receipt of the goods until its delivery and is responsible for the total, partial loss or damage of the transported products as well as for exceeding the delivery term.
Only the responsibilities incumbent on the carrier as a carrier for damages caused to goods transported by vehicles are subject to insurance, according to the provisions of Articles 17 and 23 of the “Convention on the Contract for the International Carriage of Goods by Road (WRC)”, both on the territory Romania, as well as abroad. The validity of the insurance can be determined on a certain transport / trip, or on a certain period of time.
- loss and damage of goods during road transport and theft, with the mention that if the vehicle loaded with goods is transported part of the route by sea, inland waterway, railway or air in the execution of a unitary transport without unloading the goods from the vehicle, this policy covers the entire mixed transport;
- delay in delivery, within the limits of transport taxes;
- within the insured amount, the reasonable expenses incurred to prevent the occurrence of the risk, save or limit the damages, as well as the expertise and court expenses when the insured was obliged to pay damages in a civil action.
The inclusion of theft risk coverage differs from one insurance company to another. Some insurers do not consider theft as part of a CMR insurance, so the damage caused by theft would not be the fault of the carrier. Most insurance companies only compensate for burglary. There are also insurers that cover the theft in whole or in part, including it in the policy as an additional clause, for which they request the payment of an additional premium.
To better understand this type of CMR insurance we invite you to schedule an appointment with a Destine Broker consultant, here.
a) indirect damages (for example: decrease in commodity prices)
b) expenses for the improvement, transformation of the goods as well as the repair of some damages caused by causes that are not included in the insurance policy
c) damages caused to the goods transported as a result of:
- war, strikes, civil unrest, etc.
- use of uncovered vehicles without tarpaulin, if this method of use has been expressly agreed between the parties
- lack or defect of packaging for goods exposed by nature to damage or injury when not packed or poorly packaged
- handling during loading and unloading, as well as during the movement of the means of transport due to non-compliance with the anchoring norms
- the nature of some goods, exposed to causes inherent in this very nature, either complete or partial decay or damage due to breakage, rust, spontaneous decomposition, drying, normal leakage or the action of parasites and rodents
- insufficient or unsatisfactory loading or numbering of packages
- transport of live animals.
Insurance premium – is calculated according to the insured amount, the insured risks as well as depending on the deductible you can opt for.
The insured period varies between one month and one year.
