Insuring equipment at CIF plus 10%: is that enough?
Fatou D.
Verified member · Procurement lead
Gensets at CIF USD 280,000, insured at the customary 110%.
The broker suggests 120% to cover profit, adding USD 300 in premium.
Is the payout difference large, and is it worth it?
Discussion (3)
Rui C.Verified member · Export inspection2026-10-19
Payout is the lower of loss and sum insured, so a higher sum does not change the loss; covering profit addresses indirect loss.
Ade O.Verified member · Procurement lead2026-10-20
Cover type matters more: all risks versus institute clauses differs more than the sum.
Thabo M.Verified member · Fleet manager2026-10-20
Inland legs are often outside marine cover; add that leg separately.
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