I’m not trying to sell you insurance (although we’d be delighted to) I’m just happy to know that you have this aspect covered. I’ve been moving cargo for so long now – long enough to know there’s always the risk of being caught out. Everyone has heard of pilferage, accidental damage, lorry theft, water damage and so on. Something happens to your goods and you have insurance so you are covered.
Some people weigh up the costs of insurance over a given period compared to losses (particularly on robust/low value cargo) and decide it is cheaper to take, hopefully rare, hits.
Transporting cargo has always been viewed as a venture and all cargo owners with goods on a ship are partners in that venture. You share the risks.
An unseen torpedo that can sink your own venture is “General average” – even if your owngoods arrive intact and safe. Say the ship ran aground or cargo was jettisoned in a storm then the ship owners can declare General Average and you, as party to the venture will be expected to contribute to the losses equally with everyone else.
Believe me – it doesn’t seem fair but it happens. “All risks” insurance covers you for a lot more than you may think.