Freight & Cargo Insurance Solutions with LMBF

Whether your goods or being transported across land, via railway, over seas, or even crossing international borders, your business relies on their safe delivery. More and more, our economy has become increasingly dependent on trade cross-country - but the risk of damages and the growing frequency of theft to goods-in-transit is on the rise as well. Businesses are starting to recognize the consequences of a failed delivery, not only to their finances but to their business’ reputation and relationships with clients. The solution lies in freight and cargo insurance. LMBF’s cargo insurance programs are designed to give your delivery or carrier business the comprehensive coverage it needs to protect its bottom line against common risks and vulnerabilities.

What Cargo Insurance Coverage Offers



Cargo insurance protects your business from the potential financial setback that arises from damages or loss to a shipment. Your cargo insurance may include coverage for goods while they are in transit, whether via a plane, ship, or truck, and during unloading/loading.



Your cargo insurance may include coverage for unexpected delays. If delays in delivery result in a liability claim, your cargo insurance may include coverage for any incurring lawsuit expenses and awarded settlements.



If a client perceives your company’s actions have resulted in the loss or damages to goods in transit, you may be facing a lawsuit. Your cargo liability insurance may include coverage for any lawsuit expenses that arise as a result.

  What freight and cargo insurance cover
  • Damages to goods while in transit
  • Theft of goods
  • Lawsuit expenses
  • Delayed shipments
  What freight and cargo insurance do not cover
  • Intentional damages
  • Illegal materials in-transit
  • Damages to vessels

What is cargo insurance?

Cargo insurance is a commercial insurance policy designed to protect carriers for damages to goods-in-transit. This policy is good for importers and exporters, traders, wholesale merchants, manufacturers, and more. Some policies can be supplemented to include coverage for damages or losses that occur during purely domestic transit movements, while in-storage or warehouse, exhibition, and more.

Freight & Cargo Insurance for These Business Sectors:

For a number of industries, shipments are integral to their business operations. Even one loss could cause significant interruption, which your transportation company may be unable to fully recover from. LMBF wants to ensure that your transit or delivery company gets the cargo liability insurance solutions it deserves to keep on its feet. See below for an example of some of the business sectors and individual enterprises that may benefit from cargo and freight insurance.
Manufacturing Industry


  • Metal manufacturers
  • Autobody part manufacturers
  • Chemical manufacturers
  • Food manufacturers
More info
Transportation Industry


  • Airlines
  • Freight road transportation
  • Courier companies
  • Railways
  • Trucking companies
More info
Retail Industry

Retail Industry

  • Liquor retail
  • Grocery retailing
  • Furniture retailing
  • Garden supplies retailing
  • Auto parts retailers
More info
Wholesale Distribution Industry

Wholesale Distribution

  • Agricultural machinery wholesale
  • Audio and video equipment retailers
  • Bakery product wholesale merchants
More info

Our Cargo & Freight Insurance Partners

The future of globalization is in cross-country trade and international deliveries. Even if you’ve been shipping for years and completed hundreds of shipments without issue, cargo insurance is still an important purchase. After all, you wouldn’t want that perfect record to be ruined. LMBF has partnered with some of the top freight & cargo insurance carriers to help ensure your business can recover from a loss - reputationally and financially - and continue to do shipments as per usual without any significant interruption.

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Freight & Cargo Insurance Coverage: Some Frequently Asked Questions

A: Cargo insurance may not be required depending on your industry and where you operate, but it is highly recommended as your own cargo insurance policy - even if your transit carrier offers insurance - guarantees you will receive sufficient limits of liability. It may also be less expensive compared to the transit carrier-provided option.

A: The cost of cargo insurance largely depends on where the cargo is coming from/where it is being sent, what route the carrier is taking, what vehicle - i.e, airplane, ship, truck, if the cargo is fragile, potentially hazardous, perishable, and then the overall physical features of the cargo, such as its weight, its size, and various dimensions.

A: Freight and cargo insurance offer similar coverage but differ in who they protect. If your business acts as the freight forwarder/carrier, it will require freight insurance. However, as a manufacturer or seller (i.e, who is sending the goods) you will need cargo insurance. The main objective of both these policies is to protect the company from any liability that may result from financial loss.

A: In the event of a claim, freight insurance is designed to payout based on the total weight of the goods, rather than the cargo’s entire value. Cargo insurance, on the other hand, will cover the sender of the shipment for the full value of the shipped goods.

A: Most insurance carriers will allow cargo and/or freight insurance policies to be set up for any type of international or domestic shipments. This includes a number of different modes of transportation, whether that’s railway, truck, land, air, sea - or a combination of any of these.

A: Generally, cargo insurance may include coverage for any damages or losses that occur to goods while unloading and loading is occurring. Be sure to check the details of your policy, however, as cargo insurance policies can vary by provider.