Freight Insurance in Latvia: Instant Cargo Cover per Shipment

If you need freight insurance, you can get it instantly online: per-shipment all-risk cargo insurance is available in Latvia for any single consignment moving by air, sea, road or rail. The typical premium is 0.1%–0.5% of the insured value (CIF value + 10%), with minimum premiums from around €25. Unicore issues a digital policy and a certificate of insurance at the moment of booking through its insurtech partner — no paperwork, no waiting, no annual contract required. Get a price together with your shipping quote here.

Not sure yet whether you need insurance at all? Start with our guide "Do I Need Cargo Insurance?" — this page covers the practical side: what you can insure, what it costs, and how to get a policy issued on the spot.

Carrier Liability Is NOT Insurance

The most common misconception in freight: "the carrier is liable for my cargo anyway". True — but only up to limits set by international conventions, calculated per kilogram of weight, not value, and only if you can prove carrier fault. For damage during storms, force majeure or correctly performed handling, the carrier often owes you nothing at all.

For a detailed comparison of transport contracts and liability (AWB vs CMR vs Bill of Lading), see our carrier liability comparison guide.

What All-Risk (ICC A) Covers — vs ICC B / ICC C

The global standard for cargo insurance is the Institute Cargo Clauses (ICC). Clause A is "all risks" — everything is covered unless specifically excluded. Clauses B and C cover only listed perils and are cheaper, but with significant gaps. For most commercial cargo we recommend ICC A.

Common exclusions (even under ICC A)

• Inherent vice — e.g. natural spoilage of produce, rusting of metals, ordinary loss in weight or volume.
• Insufficient or unsuitable packing performed by the shipper.
• Loss caused by delay — even if the delay itself was caused by an insured peril.
• Willful misconduct of the assured.
• Sanctions-listed cargo, or shipments with unpaid premium.

War and strikes risks are not in the standard wording but can be added via the Institute War Clauses / Institute Strikes Clauses — on most routes for a small additional premium.

What Freight Insurance Costs

The insured value follows international practice: invoice value + freight cost + 10% imaginary profit (the so-called CIF + 10% formula). The premium is a percentage of that amount:

* Assuming insured value ≈ €22,880 (invoice €20,000 + freight €800 = €20,800 × 110%). Minimum premiums are typically €25–50 per policy — so for very small shipments the effective percentage rate can be higher.

For a full explanation of how insurers build their rates (commodity, route, packing, claims history), see our guide on how cargo insurance costs are calculated.

How to Get Covered with Unicore (4 Steps)

1. Request a quote. Tell us the cargo value, route and transport mode — air, sea, road or rail — in our quote form. The insurance price is calculated digitally alongside your freight rate.
2. Instant digital quote. Through our insurtech partner Breeze, the premium is priced in seconds based on commodity, value and route — no insurance broker, no waiting.
3. Policy and certificate immediately. On booking confirmation the policy is bound and you receive a Certificate of Insurance as a PDF within minutes — valid for letters of credit and CIP/CIF transactions.
4. Single shipment or annual open cover. Insure one specific shipment, or — if you ship regularly — set up an annual open cover policy with a lower per-shipment rate. If a loss occurs, claims handling is supported by the Unicore team in Riga.

Insurance is part of our complete freight forwarding service — one contact for transport, customs and the policy.

If Cargo Arrives Damaged: The Claims Process

1. Note the damage at delivery. Before signing the POD or CMR consignment note, write specific reservations on it ("3 cartons crushed, shrink-wrap torn") — a clean, unreserved POD seriously weakens your claim.
2. Photograph everything. Packaging, labels, seal numbers and the damage itself — before the cargo is moved off the vehicle if possible.
3. Hidden damage — 3 days. If damage is only discovered on unpacking, written notice to the carrier must be sent within 3 days of delivery for road cargo (CMR Art. 30); for air cargo within 14 days.
4. Larger claims — surveyor. For claims above roughly €5,000 the insurer normally appoints an independent surveyor to inspect the damage. Do not repair or dispose of cargo before the survey.

Typical document list

• Insurance certificate / policy
• Commercial invoice and packing list
• Transport document (AWB, CMR or Bill of Lading) with reservations noted
• Photographs and damage description
• Written claim against the carrier and the carrier's reply
• Survey report (if one was appointed)

Payout timelines: straightforward, well-documented claims are usually settled within 2–4 weeks of submitting the complete document set; more complex cases involving a surveyor take 1–3 months. The Unicore team in Riga helps assemble the file and deals with the insurer on your behalf.

When Insurance Is Mandatory or Strongly Advised

• CIP and CIF transactions (Incoterms 2020). The seller must insure: CIP requires ICC A (all-risk) level cover, CIF requires at least ICC C. See our Incoterms guide.
• Letters of credit. Banks almost always require an insurance certificate for 110% of the CIF value as part of the document set — without it, payment is not released.
• High-value cargo. If your cargo value per kilogram is well above the carrier's liability limit (~€10/kg by road), insurance is effectively your only real protection.
• Used machinery and equipment. Caveat: insurers often offer only ICC C or total-loss cover for used machinery and exclude pre-existing damage — ask for the exact wording before booking.

Frequently Asked Questions

How much does freight insurance cost?

Typically 0.1%–0.5% of the insured value (CIF value + 10%). General cargo within the EU costs around 0.10–0.20%, intercontinental shipments 0.15–0.35%, and fragile or theft-prone cargo 0.3–0.5%. Minimum premiums are usually €25–50 per policy.

Can I insure a single shipment?

Yes. Unicore issues per-shipment all-risk policies digitally at booking — no annual contract required. For regular shippers, an annual open cover policy usually works out cheaper per shipment.

Isn't the carrier already liable for my cargo?

Only up to legal limits that rarely cover real value: 8.33 SDR/kg (~€10/kg) by road under CMR, 22 SDR/kg (~€27/kg) by air, and 2 SDR/kg by sea — and only if you prove carrier fault. All-risk cargo insurance pays the full insured value regardless of fault.

How fast can I get an insurance certificate?

Immediately. Through our insurtech partner Breeze, Unicore generates a digital quote at booking and issues the policy and certificate of insurance within minutes — fast enough for letter-of-credit deadlines.

What does all-risk cargo insurance not cover?

Standard exclusions under Institute Cargo Clauses A include inherent vice (natural spoilage), insufficient packing by the shipper, loss caused by delay, willful misconduct of the assured, ordinary loss in weight, and sanctions-listed or unpaid cargo. War and strikes cover can be added by endorsement.