Railway transport insurance

Railway Rolling Stock Insurance

Railway transport insurance, or railcar insurance, covers railway rolling stock that is owned, rented or leased. Despite relatively low loss and accident statistics for rail transport, railway insurance is one of the most popular types of cover. Almost all railway companies take out this insurance, because railcars are expensive, restoring them takes considerable time and money, and sometimes rolling stock is practically impossible to restore after an accident.

What can be insured under railway transport insurance

Non-self-propelled towed vehicles are accepted for insurance, namely railcars, trailers, containers, tank cars and other (non-self-propelled) units designed to carry passengers, baggage, freight, freight-baggage and mail by rail.

Cover under a railway transport insurance contract

The insurance contract covers damage to or destruction of railway rolling stock resulting from:

1. objects falling onto the insured property;
2. fire or spontaneous combustion (except for electrical short circuits);
3. a transport accident occurring while the rolling stock is in motion;
4. theft or unauthorized taking of the rolling stock;
5. a natural disaster or natural phenomenon;
6. unlawful acts of third parties (except for unauthorized taking or theft).

Additional cover under railway transport insurance

You can additionally insure railway rolling stock against the risks of damage, loss and/or destruction occurring as a result of:

• test runs of rolling stock after repair;
• training runs;
• testing of new designs, as well as other trial and demonstration runs requiring special permission.

Prices and rates for railway transport insurance

The cost of railway transport insurance is determined by analysing the risk to be insured, but in general, railway risks do not belong to the group of risks with a high probability of occurrence.