Marine Cargo and Transit insurance is ideal for importers and exporters as well as cargo owners shipping domestically looking to protect cargoes in transit. Whether it’s by sea, air, rail, or road, customers can rest assured their insured goods are protected.
1,597 million tonnes of cargo is moved across Australian wharves in 2015–16.
(Department of Infrastructure, Regional Development and Cities, Statistical report, Australian sea freight 2015-2016, 2018)
The value of Australia’s exports by sea was $218.9 billion in 2015–16.
(Department of Infrastructure, Regional Development and Cities, Statistical report, Australian sea freight 2015-2016, 2018)
99% of Australian exports use sea transport.
(Department of Infrastructure, Regional Development and Cities, Maritime, 2018)
Marine cargo and transit insurance cover almost any type of goods whilst in transit within Australia or around the world, for a single shipment or all shipments over a 12-month period. Cover can be tailored to suit the specific needs of different cargoes and additional options are available to allow customisation to suit an individual customer needs.
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for:
Kerri runs a small business that exports organic cheeses from Australia to Asia. It’s a new business, so she works very hard to provide quality products and build her client base.
Recently, a shipment of her cheeses that were going to a new client was left on the dock unrefrigerated – and the cheeses were spoilt. Not only did Kerri lose valuable product, but she also missed out on the repeat business of the new client.
Thankfully, Kerri had marine transit insurance, which covered her products from the time they left her business until they were in her client’s possession. While her insurance didn’t help her keep the new client, at least the insurance reimbursed Kerri for the cost of the cheeses that were spoilt.
Marine cargo and transit insurance cover almost any type of goods whilst in transit within Australia or around the world, for a single shipment or all shipments over a 12-month period. Cover can be tailored to suit the specific needs of different cargoes and additional options are available to allow customisation to suit an individual customer needs.
when all your shipments are covered for a pre-agreed amount based on the type of goods that are being moved.
for unique or major shipments, or once-off movement.
offers covers home contents and personal belongings whilst they are being moved to between old and new home property, whether it’s within Australia or to an overseas destination.
Carriers Goodwill insurance – is designed to protect the transport operator or carrier with the ability to have commercial settlements made to their customers for loss or damage to their goods or livestock from an insured event at the carrier’s request, regardless of their legal liability.
There is no requirement for the carrier to issue consignment notes or operate under other contracts of carriage.
Carriers Liability covers your legal liability regarding compensation for loss or damage to goods, merchandise, and/or livestock. With the transportation of goods key to many businesses within our industry, it is important to know that you are covered for both your vehicle and its cargo.
It is important to review and consider the Product Disclosure Statement (PDS) for full details on coverage.
For professional advice on Business Insurance placement solutions, please contact All Star Brokers.
