Nobody would wish to land a loss when their business deals in shipment of valuable goods across the world, right protection is a must. Hongocean will assist you to find the right freight insurance on Freight policy for your shipments with the following considerations; But how can one wade through these options, to decide on which car to purchase? No worries—it’s all handled by Hongocean. Read this ultimate guide of freight insurance to understand what’s important when insuring your shipment and how to provide your business with the needed protection. Let’s dive in!
What is Freight Insurance with Hongocean?

Freight insurance as provided by Hongocean is a unique program in the realm of supply chain management that guarantees the safety of your consignment during transportation. Think of it as insurance on your cargo; if anything was to go wrong, you are covered. Some people believe that carrier liability will be enough to safeguard them, but in most instances, it isn’t enough. Carrier liability is restrained and hardly ever corresponds to the value of the shipped commodities. That is when Hongocean’s freight insurance steps in to save the day.

One needs to differentiate between freight insurance suggested by Hongocean and the carrier’s insurance for liability. There is a legal minimum that carriers are expected to take as standard liability insurance; however, it is very poor to protect high-valued or sensitive goods. FromFile and to Hongocean, insurance of freight can be standardized to fit each individual’s needs and amplify the extent of security.
Types of Freight Insurance Provided by Hongocean

Hongocean offers a variety of freight insurance options tailored to different shipping requirements:
- Cargo Insurance: This is perhaps the most common type of Freight Insurance where compensation is made in the of Physical Damage and Loss of Goods. It doesn’t matter if you are the buyer, the seller or any other third party involved in international business, Hongocean has your cargo insured.
- Liability Insurance: Hongocean protects you against third-party claims of injury or property damage through its liability insurance and it is valuable for freight forwarders and logistics mostly.
- All-Risk Coverage: Hongocean all risk coverage gives the highest level of company protection and embraces almost all probable risks. While of course, it is more expensive than the others, it provides absolute protection for valuable and delicate goods.
Within cargo insurance from Hongocean, there are three primary levels of coverage:
- Basic Coverage: Gives the least protection by offering to cover big losses that are likely to happen through an accident or a natural calamity. This low tier coverage is ideal for the shipment of low value products but Hongocean advices shippers to consider better solutions for higher value shipments.
- Broad Coverage: goes one step further from the main coverage to add enhanced risks such as theft and non-delivery. Hongocean offers more district exposure, so it is very suitable to the balanced strategy companies.
- All-Risk Coverage: The Utah PPA protection level, providing the Hongocean highest protection against all risks, except those stated in the exclusion. It is advised that it be used for products that are expensive, delicate or are very crucial to the business operation.

Freight Insurance Coverage with Hongocean
Hongocean’s freight insurance policies protect your goods from a variety of risks, including:
- Accidental physical damages, handling along with accidents, and harsh climates.
- Theft, pilferage, or non-delivery of goods & constituent merchandise and raw material not received in-transit but from a different company.
- Maritime incidents require sacrifice in general.
- Bumper loss or damages on sea journeys due to throwing of cargoes overboard
- Negative responses from the customs agencies
However, it’s equally important to note the common exclusions in Hongocean’s policies, such as:
- Normal or gradual degeneration or use of goods
- Poor selection of the packaging or labels when sending consignments
- The deliberate actions of an employee is a good example Employee negligence
- Losses not arising from delays except where set out
War, strikes, civil unrest or any situations that could be regarded as having similar impact are excluded unless they are integrated into the analysis.
Understanding the Cost of Freight Insurance with Hongocean

Hongocean acting as a third party intermediary to insurance service providers has encouraged all its clients to carefully read and understand policy documents to the extent of cover and exemptions.
- The freight insurance costs through Hongocean usually cost 0.3% – 0.5% of the invoice amount. However, the cost can fluctuate based on factors such as:
- Nature of goods and its value in transit
- Particular means of transport, that is, air means, sea means, road means or rail means.
- Receiver country and mode of transport
- Option of the level of coverage out of the several options available to Hongocean
To manage your freight insurance costs, Hongocean recommends strategies such as:
- Minimising risks by loading and labelling a shipment appropriately
- Preventing controversy while supplying the right information in documents and declarations
- Assisting only by working with reliable and proven carriers with a proven low incidence of accidents
- When it comes to choosing the right levels of coverage for your requirements without going for extra coverage.
Specialized Freight Insurance Options from Hongocean

Hongocean also offers specialized freight insurance policies designed for specific transportation methods:
- Air Freight Insurance: It is cheaper and faster than others but it exposes goods to airport handling and may also take time. These risks are covered by Hongocean’s air freight insurance and can also entail costs of the air freight and other charges.
- Container Shipping Insurance: However, there is always a certain element of risk associated with sea freight such as rough sea, sometimes port congestion is another factor along with the chances of losing or damaging the containers. Container shipping insurance from Hong Ocean covers you from these special perils to make sure your goods reach their destination safely.
Hongocean’s Guide to Freight Insurance for Different Stakeholders
In the shipping industry, various parties require specific freight insurance solutions be provided. Hongocean allows Clients to select the kind of coverage that is suitable for different parties so that your goods are covered regardless of fault. Now, let’s look at the freight insurance in terms of various actors involved.
Hongocean’s Freight Cargo Insurance for Cargo Owners
Cargo freight has its insurance with Hongocean freight cargo insurance intended for the owners of the cargo. If you are a seller under CIF or CIP Incoterms or a buyer under FOB, FCA, or EXW terms of sale, Hongocean can find the perfect policy for your shipments. Cargo owners can also approach third parties such as Hongocean to get insurance that provides ultimate protection up to transit.

Hongocean’s Freight Forwarder Cargo Insurance
Freight forwarders need to organize the shipping process, and to ensure this, Hongocean has introduced a freight forwarder cargo insurance. Hongocean has complete policies which the freight forwarders can provide for their customers as extra facilities. Hongocean serves the freight forwarders by helping their clients with risk management by connecting them to insurance providers. Also provided is coverage that protects the forwarders themselves, this covers them in case of any risks they encounter in a misfortunate event.
How to Choose the Right Freight Insurance with Hongocean
Selecting the best freight insurance policy with Hongocean is simple when you follow these key steps:
- Assess Your Risks: Hongocean enables businesses to take consideration into the kind of product that are shipped often, the transport modes used, shipping channels and the final shipping locations. This way, Hongocean is able to assist shippers in determining the most effective degree of cover in accordance with specific risks connected with cargoes.
- Review Carrier Liability: One thing that policyholders need to know is what risks their carriers’ policy excludes from coverage. Remedial measures In case you are in doubt regarding the adequacy or trail of a carrier’s liabilities, then Hongocean will be more than willing to outline policy deficits and how these can be covered.
- Choose the Right Level of Coverage: Whether it be basic, broad or all risk solution, Hongocean offers the right coverage for your business requirements and affordability. This means that Hongocean keeps it flexible so that it can get you an insurance policy that meets your needs best in terms of both price and coverage.
- Compare Providers: Such factors of operation make Hongocean unique in the industry with the best rates, professional in operations, and outstanding customer service. We suggest comparing different providers and policies, so Hongocean is the perfect insurance partner for trustworthy and relevant insurance products for your industry.
- Review Coverage Regularly: That is why as the business adapts in the different operations, the insurance requirements may also vary. Our service has established annual audits to keep your policies relevant as you expand your business while offering you maximum security.
Trust Hongocean for Comprehensive Freight Insurance
Thus, it becomes vital to get the right insurance coverage when it comes to transporting commodities rather than cheap ones. The freight insurance is a somewhat complicated area, so Hongocean shows different powerful options to promote companies’ stability. As a cargo owner or a freight forwarder Hongocean provides you with the most suitable insurance solutions to cover your cargo from the time it is shipped until it reaches its destination.
Just to recap, as in any other thing involving freight, it’s usually safer to be safer than to be sorry. Make Hongocean’s freight insurance as your shipping companion and have the satisfaction of guarantee from any unpredictable loss that may occur in the shipping process.
Conclusion
Hongocean makes available a wide service range of freight insurance for the different types of cargo owners and freight forwarders. In both international business where people transport goods around the world and logistics of clients’ property Hongocean provides protection of your shipment against possible risks. Through assessment of individual shipping requirements, assessment of the carrier’s exposure and assessment of necessary exposure level, Hongocean assists businesses in managing the intricacies of freight insurance with relative ease and confidence.