Marine Cargo Insurance

Marine Cargo Insurance

This policy covers loss or damage to goods and/or merchandise in transit from one place to another by sea, air, rail, road or registered post. The cover provided is in respect of marine perils, war and strike, riot and civil commotion perils.

This policy from Goldstar covers the goods all the way from supplier to final destination under one single policy. This means you do not need to get additional cover from abroad as we insure the full journey.

Types of Marine Cargo Insurance

  1. Marine Open Cover

This provides a blanket cover against loss or damage to all goods transported by a specific carrier, or by a specific shipper, during a stated period. The terms applicable in the policy are agreed in advance at the beginning of the policy period but premiums are charged as and when the actual shipment is done. The insured is required to periodically provide the insurer with the description, quantity, and value of goods shipped during that period.

  1. Marine Specific Policy

This is issued to cover a specific single transit. Mainly this cover ends upon the arrival of cargo at destination.

What’s covered

The perils covered and excluded depend on which type of coverage you choose. There are three basic forms of coverage known as Institute Clauses A, B and C.

Marine Insurance offered by Goldstar Insurance is issued based on an All Risks basis.

An All Risk policy offers even broader coverage than a With Average policy. As the name suggests, this policy covers all transportation risks. An All Risk policy will not, however, cover loss of market or loss or damage caused by delay, inherent vice of the goods, war, strikes, riots and civil commotions, unless specifically included.

What’s not covered

It is important that the insured is aware of the exclusions applicable to “all risks” cover. The most common are loss, damage or expense:

  • Attributable to willful misconduct of the insured
  • Caused by insufficiency or unsuitability of packing or preparation of the cargo
  • As a result of ordinary leakage and wastage
  • Arising from the insolvency or financial default of the owners, charterers or operators of the vessel
  • Caused by inherent vice of the cargo (e.g. the innate tendency of a product to deteriorate over time. For example, fruit will go rotten)
  • Caused by delay
  • Resulting from strikes and labour disturbances (covered by strike clause)
  • Arising from un-seaworthiness of the vessel where the insured is privy to the defects at the time of loading cargo


An important point to note when taking out marine insurance is that the onus is on the insured to ensure adequate packaging and marking. In the event of loss or damage to cargo attributable to inadequate packaging or marking, Goldstar Insurance Company will disallow any claim made.

What’s optional

Choose optional add-ons at an additional cost to create cover that suits you.

  • Political Violence and Terrorism: Cover against political violence and terrorism

Goldstar claim process

No matter what your worry is, we’re here to help
explain the process, assess your claim fairly
and minimize the disruption to you with a transparent claims process.
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How to make a claim

We have a number of options to help you make a 
claim quickly and effectively. Contact our dedicated claims team for advice on
an incident/claim.
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Why choose us ?

Goldstar Insurance was IFM’s Best Insurance
Company in Uganda (2015) and has over
 the years consistently maintained a Global A+ Credit Rating
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2016 Global Business Outlook Award

Best insurance company in Uganda

2015 International Finance Magazine Award

Best insurance company in Uganda

A+ Global Credit Rating Co

Your expert local insurance partner

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  • Ensure you declare a list of items to be insured under contents insurance including serial numbers, model, make and have the correct sum insured
  • Always keep valuables safely and locked out of site to protect against the risk of theft