Kelias 95LEARNING SPACE
FREIGHT TRANSPORT

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Initial professional qualificationLithuania / EU · C / CE
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QUESTION 282Not studied yet

What is the insurable value of goods?

General insurance conceptEditorial review

Answer

The insurable value is the monetary value of the property interest being insured, determined in the way specified by the contract. It is not automatically the sum insured or the eventual payment.

Please note

The policy terms, deductible and coverage determine the actual valuation and payment. This short definition does not replace them.

A simple explanation

Insurable value describes the monetary interest in the insured property, whereas the sum insured is the amount of cover set by the contract. They may differ, so a payment cannot be determined simply by looking at the goods invoice.

REMEMBER

Value, sum insured and payment are different things.

Sources and checks

Editorial review: 2026-09-28.

Learning objective: Distinguish the insurable value of goods, the sum insured and a possible payment. EU syllabus area: 2.2. The definition was clarified editorially; the Bank of Lithuania's general property-insurance explanation that was read does not replace the terms of a specific cargo policy. Editorial review completed on 2026-09-28; the earlier source-check date was not updated.

This version has not yet undergone a full check against its sources.

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For an instructor and a small group: choose one C/CE freight transport topic in the Lithuania and EU context. Use your own devices, including a phone and a computer.

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  2. A lesson and a diagram. Discuss what they explain and which conditions matter.
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Translated from the Lithuanian edition. The material concerns Lithuania and the EU; source-check dates refer to the Lithuanian answers.

Study materials for C/CE drivers: 300 questions with explanations, lessons, quizzes and practical scenarios. Based on Lithuania's and EU rules.

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