Cargo insurance

Safety cushion for transporting

We, transport and logistics company SIA Vervo, have always been a reliable freight carrier, which ensures that transport of goods is safe and cargo insurance is advantageous with us. Do you wish to transport a freight but are afraid about its safety? Do not worry, because Vervo team is ready to insure cargo and let you feel safe about the transportation process.

When and why are cargoes being insured?

Any entrepreneur operating in freight transport industry will assure that cargo insurance is a crucial precondition for transporting goods. Insurance allows the owner protecting his cargo from damage during loading, unloading or transporting.

With us you can insure different cargoes:

Road freight
Rail freight
Sea Freight
Air freight
All kinds of cargo insurance policies will protect you from various losses, which may occur whilst transporting the cargo (in case of a road accident or natural disaster or fire; if cargo has been stolen, robbed, exploded; due to neglect or other accident leading to damaged cargo during its transport in any of offered transport networks).

Who undertakes insurance

Cargo insurance is important for any business related to transport of material values. If you insure your cargo, you protect yourself from potential losses. If you don't want to insure it on your name, do not worry — at us the cargo insurance can be undertaken by:


Responsibility from loading to unloading is assumed only by cargo owner.


Responsibility during cargo shipment is assumed by the customer.

Co-insurance of cargo

Responsibility for one part of the route is assumed by the owner, and the other part by the customer.

We will also take care of formalities — you will not have to worry and spend time to settle import and export formalities.

What makes your cargo insurance price?

Together we will elaborate the most suitable insurance plan depending on your wishes and possibilities, and the price will depend on several important factors, including:

Type of cargo

Cargoes are divided according to diverse parameters, for example, product durability, fire safety and other properties.

Shared values

The more valuable the cargo is the higher the potential insurance price.

ICC classes

A – responsibility for all risks
B – responsibility for named risks
C – limited responsibility for named risks.
Additional insurance is needed where the value of your cargo exceeds 8.5 EUR per kilogram, because, according to Geneva Convention on the Contract for the International Carriage of Goods by Road (CMR), which stipulates third party liability of the carrier for maintaining of a cargo, the applicable rate is 8.33 SDR or approximately 8.5 EUR per 1 kg of cargo. This rate is subject to changes, because it is related to SDR currency basket. For example, if you lose 1 kg of gold, you will redeem 8.5 EUR.
Before you insure a cargo, think well of the most suitable types of policies in your case. At Vervo you can arrange the following insurance policies:
Responsibility for all risks
Responsibility for a separate road accident
Without liability for damage, except of destruction
Our professional and experienced consultants will gladly tell you more about cargo transport insurance and what services we offer during the first free of charge consultation. By cooperating with Vervo you will receive a professional free of charge consultation, full range freight transport insurance services and other logistics services.

Contact us now and get your price offer!

Cargo insurance news

Ten of the most amusing insurance cases in Latvia

Ten of the most amusing insurance cases in Latvia

Feb 07, 2019
Although insurance mainly serves as a financial solution for complicated life situations, every now and again people come across the most amusing cases. On this special occasion – April Fools – Swedbank has compiled a list of ten of the most amusing insurance…
Balta: insurance market grows more rapidly than the economy

Balta: insurance market grows.

Mar 10, 2017
«The number of insurance association owners is reducing, which could mean a smaller number of insurance companies in the future. One positive development for the insurance market is that it grows more rapidly than the economy,» Balta chairman of the board…
BALTA: growth in non-life insurance market exceeds GDP growth indexes

BALTA: growth in non-life insurance market

Dec 05, 2016
In spite of slow non-life insurance market growth in Latvia, which had reached a mere 6% in the first three quarters, BALTA insurance association concluded the first nine months of 2016 with profits of EUR 3.2 million.

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  • Phone: +371 67674570

  • E-mail: [email protected]

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