The guaranteed value of goods is called insured price, also called declared price. Insurance transportation is an integral part of the railway cargo transportation contract. It is a form of compensation to ensure the equality of interests between the carrier and the shipper after the railway implements the limit compensation. That is to say, when consigning the consigned goods, they should declare the insured amount to the railway carrier on their own initiative and pay the insured fee. The carrier implements special transportation management and certain protective measures for the insured goods. If the insured goods suffer losses due to railway liability, compensation shall be made according to the actual losses, but the maximum amount shall not exceed the insured amount.

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