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Cargo insurance

Deductible (Excess)

In Indonesian: Risiko Sendiri (deductible)

A deductible, or excess, is the part of a loss the insured bears before the insurer pays. It can be a fixed amount per claim, a percentage of the insured value, or both. Illustration: with a USD 500 deductible, a USD 2,000 loss is paid at USD 1,500, while losses under USD 500 are not paid. Fragile or theft-prone goods often carry higher deductibles. Compare deductibles, not just premiums, when choosing a policy.

Related terms

  • Cargo Insurance (Marine Cargo Insurance)

    Cargo insurance protects the cargo owner against loss of or damage to goods during sea, air or land transport.

  • All Risks Cover

    All risks is a cargo cover against all physical loss or damage from external causes except those expressly excluded, normally based on Institute Cargo Clauses (A).

  • Particular Average

    Particular average is a partial loss that affects only a particular interest and is not shared, such as some cartons damaged by seawater or crushed during discharge.

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